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a. Use the following information for questions 27 and 28: KimDrei Group of Companies charges an initial fee of P1,600,000 for a franchise, with P320,000 paid when the agreement is signed and the balance in four annual payments. The present value of the annual payments, discounted at 10%, is P1,014,000. The franchisee has the right to purchase P60,000 of kitchen equipment and supplies for P50,000. An additional part of the initial fee is for advertising to be provided by Pasta Inn during the next five years. The value of the advertising is P1,000 a month. 27. When KimDrei prepares its financial statements, the franchise fee revenue to be reported is: P1.264,000 C. P1,334,000 b. P1,324,000 d. P1,600,000 28. When KimDrei prepares its financial statements, the unearned franchise fee revenue to be reported is: a. Zero P60,000 b. P10,000 d. P70,000 29. Ronella Ocampo sells hairstyling franchises. Ronella Ocampo receives P50,000 from a new franchisee for providing initial training, equipment and furnishings that have a stand-alone selling price of P50,000. Ronella Ocampo also receives P30,000 per year for use of the Ronella Ocampo name and for ongoing consulting services (starting on the date the franchise is purchased). Carlos became a Ronella Ocampo franchisee on July 1, 20x6, and on August 1, 20x6, had completed training and was open for business. How much revenue in 20x6 will Ronella Ocampo recognize for its arrangement with Carlos? P65,000 b. P10,000 d. P70,000 C. a. Zero C