JANE creates a franchise for the sale of a particular product, JANE incurs P600,000 initial direct costs for each franchisegranted. At December 31, 20x6, JANE granted the following people franchises that have open accounts with JANE.ANNABETYCHERRYDANACash paid (down payment)Note unpaid (face P1,000,000)Services completedProbability of collectionContinuing franchise fee200,000400,000200,000550,000200,000200,000910,000700,00025%10%95%100%Likely1% of NIUnlikely1% of NIUnlikely19%6 of NILikely1% of NIPeriod of refund1/31/20172/28/2017 12/30/2016 12/30/2016What is the total revenue to be recognized by JANE on December 31, 20x6?

Given: JANE incurs P600,000 initial direct costs for each franchise granted. At December 31, 20x6,…

d. At December 31, 20x6, JANE granted the following people franchises that have open accounts with DANA ANNA BETY CHERRY ash paid (down payment) ote unpaid (face P1,000,000) ervices completed robability of collection Continuing franchise fee 200,000 200,000 200,000 200,000 910,000 95% 700,000 400,000 550,000 25% 10% 100% Likely Unlikely Unlikely Likely 1% of NI 1% of NI 1% of NI 19% of NI

d. At December 31, 20x6, JANE granted the following people franchises that have open accounts with DANA ANNA BETY CHERRY ash paid (down payment) ote unpaid (face P1,000,000) ervices completed robability of collection Continuing franchise fee 200,000 200,000 200,000 200,000 910,000 95% 700,000 400,000 550,000 25% 10% 100% Likely Unlikely Unlikely Likely 1% of NI 1% of NI 1% of NI 19% of NI

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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H1.