debit franchise fee
credit cash /bank
Expense dr Cash cr
From the website http://www.sonicdrivein.com/business/franchise/index.jsp These are the basic requirements to own a SONIC franchise: The term of a SONIC franchise is 20 years, plus a 10-year renewal. The franchise fee is $30,000, with a total initial investment ranging from $710,000 to $2.3 million. You must have prior or current successful restaurant experience and/or strong entrepreneurial skills. Royalty fees are 1 to 5 percent; advertising fees are 4 to 5 percent. Financial Requirements Are: Liquidity Net Worth 1 Store $500,000 $500,000 2 Stores $1,000,000 $1,000,000 3 Stores $1,500,000 $1,500,000 5+ Stores $2,000,000 $3,500,000 For more detailed information, please see the FAQs section of this Web site. If you are interested in owning a SONIC franchise, please fill out and submit the online Request Form. You may also call our Franchise Sales Department at: 1-800-569-6656 for more information and assistance, or write to: SONIC Industries, Inc. Franchise Sales Department 300 Johnny Bench Drive Oklahoma City, OK 73104
in chennai sathyabama mba fees structure
cheese
10000
yes
Debit cash / bankCredit fee income
Dr Land & Property Cr Bank
Debit: Deferred loan origination fees Credit: Interest income
DR DIRCTOR FEES CR Bank / ACCRUALS
cash a/c debit fees a/c credit
Fees A/c Dr. To Cash A/c Cr.
Debit cash / bank / accounts receivableCredit fee income
debit cashcredit professional fee revenue
Bank Fees DR. Normal Expesnes Accrual Account Cr.
what is the accounting entry for provision for audit fees
debit share capital accountcredit legal fee expenses
The approximate Burger King franchise net profit is listed at 500,000 dollars per year. This is after franchise fees combined with annual sales.