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Question - The Morrit Corporation has $480,000 of debt outstanding, and it pays an interest rate of 8% annually. Morrit's annual sales are $3 million, its average tax rate is 25%, and its net profit margin on sales is 7%. If the company does not maintain a TIE ratio of at least 5 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morrit's TIE ratio? Do not round intermediate calculations. Round your answer to two decimal places.
What caused the change in Cisco's comprehensive income in fiscal year 2009? What was the amount of Accumulated other comprehensive income (loss) that Cisco reported in its July 28, 2009 balance sheet? Be specific.
how is a taxable estate calculated? how do lifetime gifts fit into this equation? if you had an estate worth 10 million
Using time value of money tables, a financial calculator, or Excel spreadsheet functions, calculate the amount of the annual rental payment
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If the profit was P800, 000 during 2018, how much should each partner receive under each of the following conditions: Ables and Galang agreed to share profit
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Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are: Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
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