1. On January 1, 2012, a franchisor received P150,000 cash and a P850,000 10% note as payment for a franchise contract. The franchisor incurred P700,000 to satisfy all costs related to the franchise contract. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

2. On January 1, 2012, a franchisor received P150,000 cash and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P700,000 to satisfy all costs related to the franchise contract. Imputed interest is 10% a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

3. On January 1, 2012, a franchisor received P150,000 cash and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P700,000 to satisfy all costs related to the franchise contract. Imputed interest is 10%. The collection of the note is not reasonably assured. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

4. On January 1, 2012, a franchisor received P150,000 cash and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P700,000 to satisfy all costs related to the franchise contract. Imputed interest is 10%. The collection of the note is uncertain. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

5. On January 1, 2012, a franchisor received P150,000 refundable cash payment and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P100,000 to satisfy services which is a fair measure of the down payment paid. Imputed interest is 10%. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

6. On January 1, 2012, a franchisor received P150,000 non-refundable cash payment and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P100,000 to satisfy services which is a fair measure of the down payment paid. Imputed interest is 10%. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

7. On January 1, 2012, a franchisor received P150,000 refundable cashdown payment and a P850,000 noninterest-bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P100,000 to satisfy services which is a fair measure of the down payment paid. Imputed interest is 10%. The collection of the note is not reasonably assured. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?

8. On January 1, 2012, a franchisor received P150,000 non-refundable cash and a P850,000 noninterest- bearing note as payment for a franchise contract. The note is payable in 2 equal installment payments starting June 30, 2012. The franchisor incurred P100,000 to satisfy services which is a fair measure of the down payment paid. Imputed interest is 10%. The collection of the note is uncertain. a.How much is the Franchise Revenue? b.How much is the gross profit realized in this transaction?