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Question - The Morrit Corporation has $480,000 of debt outstanding, and it pays an interest rate of 12% annually. Morrit's annual sales are $3 million, its average tax rate is 25%, and its net profit margin on sales is 3%. If the company does not maintain a TIE ratio of at least 4 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.
a company purchased equipment valued at 200000 on january 1. the equipment has an estimated useful life of six years or
Ask friends to go get coffee and the first question is which Starbucks is close for everyone to meet. Many know and enjoy Starbucks coffee but not many know the history surrounding the numerous brands and types of coffee. Opening in the 1970s the ..
Assigning Costs to a Cost Object, Direct and Indirect Costs Hummer Company uses manufacturing cells to produce its products.
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month.
Green Landscaping Inc. is preparing its budget for the first quarter of 2017. Determine the Accounts receivable and Accounts payable
Greg, a cash method of accounting taxpayer, owns 100 shares of Parker Corporation stock with a basis of $20,000. Greg receives two liquidating distributions of $8,000 on March 3 of last year, and $8,000 on August 8 of this year. The amount of the ..
Compute the number of performances required to break even for each concert. These are separate computations for each dance concert. Compute break even for the organization as a whole and express the result in revenues instead of the number of perfor..
curren co. paid dividends of 3000 6000 and 10000 during 2010 2011 and 2012 respectively. the company had 500 shares of
Based on US GAAP (section 605), what is appropriate to recognize revenue upon transfer of the inventory to the carrier in Transaction 2?
What are the general regulatory issues hrm and provide some detail for each.Concerning benefits programs what are the legally required elements in hrm?
Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year
Using only the amounts given, compute net cash provided by operations, both without and with the reclassification of the receivables. Which reporting makes Moss look better?
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