Define franchises and licenses

Q: A new machine with a purchase price of $99,636, with transportation costs of $7,636, installation co...

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to ...

Q: how to correct a credit invoice (issued by the business) has not been recorded at all?

A: When customers return goods due to various reasons like damaged goods within the warranty period, pu...

Q: After all the ledgers had been drawn up, the following differences and errors were identified. Indic...

A: Debtor Control account is a ledger account that analyses the amount owed to your company. The balanc...

Q: Define the term Retail Terminology.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic transaction...

Q: If bonds are issued at a discount and the effective-interest method is used, the amount ofinterest e...

A: Bonds: Bonds are a kind of interest bearing notes payable, usually issued by companies, universitie...

Q: Vacation Destinations offers its employees the option of contributing up to 7% of their salaries to ...

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its emplo...

Q: Ihshl

A: The Fundamental accounting equation, likewise called the accounting report condition, speaks to the ...

Q: At one time, Boeing closed a giant deal to acquire another manufacturer, McDonnell Douglas. Boeing p...

A: Given: The deal was closed by the Boeing to attain another manufacturer named, McDonnell Douglas.

Q: Define retained earnings

A: Financial Accounting:   It refers to the process of recording the financial transactions of the busi...

Q: Hepner Corporation has the following stockholders’ equity accounts:         Preferred stock (8%...

A: Goodwill: It is the intangible asset that adds value to the organisation fame.

Q: On January 17, Papa’s Pizza signs a contract with Bug Zappers for exterminating services related to ...

A: Matching principle: According to this principle, the expense should be recognized when it is actuall...

Q: Required 1. Prepare an income statement and a statement of owner’s equity for the year and a classif...

A: Hey, since there are multiple questions posted, we will answer first question. If you want any speci...

Q: What are the risks from subversive threats?

A: Taking illegal access over a firm internal system network by doing activity of surpassing the tradit...

Q: Wentz Co. made it a priority to negotiate better credit terms with its suppliers so it could defer p...

A: Defer payments are those payments which got delayed and no interest or principal amount is paid duri...

Q: Roswell Corporation reported the following data:Dividends.................. $ 5,000Purchase returns....

A: Gross profit percentage = (Gross profit / Sales revenue) x 100 where, Gross profit = Sales revenue -...

Q: When taxes are "too high", taxpayers start to cheat on their taxes and dangerous consequences can re...

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization t...

Q: On January 1, 2020, Grouper Company purchased 12% bonds having a maturity value of $350,000, for $37...

A: Hello, since your question has multiple parts we will solve the first question for you. If you want ...

Q: Assume you are the controller of a large corporation, and the chief executive officer (CEO) has requ...

A: Memo is a typically concise composed message or report. Memos have a twofold reason: they point out ...

Q: After you have completed a bank reconciliation, there can be numerous un‐ reconciled bank statement ...

A: Bank reconciliation statement is a statement prepared to reconcile the difference between the 'Bank ...

Q: Assume that you are the president of your company and paid a year-end bonus according to the amount ...

A: Net income: Net income can be defined as income earned during an accounting year by the company or b...

Q: Which of the following is a disadvantage of outsourcing? Group of answer choices A. freeing up capa...

A: A very common outsourcing scenario is the decision of a company to produce a component that is neede...

Q: Accounting Question

A: Balance Sheet shows the financial position of the company at a particular point of time. It lists th...

Q: Entries into T Accounts and Trial Balance Connie Young, an architect, opened an office on October ...

A: CASH   Connie young - capital    1.                   $39,700 2.                           $4,000...

Q: GAO Auditor Independence. The GAO reporting standards for performance audits statethat each report s...

A: Given: The GAO reports standards for the performance of audits.

Q: When managerial accountants design an evaluation system that is based on criteria for which a manage...

A: Performance measurement can be explained as an indicator in management accounting that evaluates the...

Q: The Loft Etc. Store near the Academy of Arts sells all sorts of academic supplies and university mem...

A: Since we answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and specif...

Q: What happens to the par value, the share’s trading price, and the number of shares outstanding in a ...

A: If stock is split in a 2-for-1, there were following changes: Par value: The par value of share gets...

Q: Analysing the Accounting Information System of HARDA Fashion.HARDA Fashion sells ready-to-wear fashi...

A: Given: The information of Accounting of HARDA fashion is given.

Q: Southeast Systems has the following balance sheet and the income statement. The company had 10 milli...

A: Common-size value of accounts receivable for 2014 = Accounts receivable of 2014 / Total assets of 20...

Q: Fundamental Principles (Comprehensive). In each of the following, identify which ofthe elements of t...

A: a) Responsibility Principle: It is the duty of an auditor to make appropriate competence and capabil...

Q: Rooney Modems, Inc. makes modem cards that are used in notebook computers. The company completed the...

A: Depreciation = ( cost of Asset - salvage value ) / useful life

Q: After fieldwork audit procedures are completed, a partner of the CPA firm who has not been involved ...

A: As per Standard of Auditing the main focuses of Second Review is Confirmation of Financial Statemen...

Q: Damon Company receives its monthly bank statement, which reports a balance of $2,000. After comparin...

A: Deposits in transit: Deposit in transit means the money received by a company and recorded in the co...

Q: On March 15, Maxwell Plush sold and shipped merchandise on account for $6,000 to Kittson Amusement P...

A: Given information is: On March 15, Maxwell Plush sold and shipped merchandise on account for $6,000 ...

Q: All of the following are controls for cash received over the counter excepta. a printed receipt must...

A: Correct option to the above question is d. The sales clerk must have access to the cash register tap...

Q: The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:  ...

A: Journal Entries means the entries to be recognized in the accounting books of the company for all th...

Q: SafeData Corporation has the following account balances and respective fair values on June 30:  ...

A: When the company is acquired to another company on the basis of the fully acquired then the company ...

Q: Which of the following does not assign a value to a business opportunity using time-value measuremen...

A: Answer : D Payback period method

Q: When prices are rising, would you choose a FIFO or weighted average cost flow assumption? Explain, u...

A: Cost Flow Assumptions: It is an assumption that determines the way or order in which the costs shoul...

Q: Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid r...

A: The journals are: In the books of Sweet Catering Journals Date Particulars LF Amt(Dr.)($) Amt...

Q: In your answers to the following set of questions,assume that Ross Corporation has $200 millionof as...

A: Bankruptcy is a process, legal process, by which people or entities who cannot repay debts to credit...

Q: What is the answer to number three I have already tried sales discount and and sales returns and all...

A: Net method: Under the net method, the sales are initially recorded with the net amount i.e., after d...

Q: how to declare the dividend of a business

A: Proprietors and speculators in independent companies get an incentive from their possession stakes t...

Q: On January 1, 2021, Winn Heat Transfer leased office space under a three-year operating lease agreem...

A: The journal entries: In the books of Winn Heat Transfer Journal Entries Date Particulars LF A...