Answer:
<u>PetSmart</u> is an example of a speciality store.
Explanation:
It sells stuff only related to pets, unlike the other stores mentioned.
Answer:
3.020
Explanation:
Morrit Corporation
interest amount = $1,080,000*.11 = $118,800
Net profit = 3% *$6,000,000= $180,000
Net profit + tax = profit before tax =
180000/.75 = 240000
Profit before tax + Interest = Earning before interest and tax
= $240,000+$118,800 = $358,800
TIE ratio= EBIT/Interest = $358,800/118,800
= 3.020
Therefore the TIE ratio is 3.020
Some of the challenges of this company include lack of control over financial reporting in all branches, and inaccurate data to make decisions for next years.
DEF Ltd's main problem is the inaccuracy regarding the recognition of revenue and other inconsistencies in financial reporting. This problem includes:
- Inaccuracies related to revenue and deferred revenue.
- Lack of documentation of some transactions.
Moreover, these problems are intended to be solved through a review process and training seminars. These two ideas are useful for the problem; however, the company might face some challenges and problems such as:
- Lack of control in all branches: DEF Ltd seems to be a big company with multiple branches around the world. This makes it difficult for the company to control all financial records even if employees are educated about the process through seminars.
- Inaccurate data for next periods: Considering there are lots of inconsistencies and some of the reports are incomplete, it is likely even after the review process the company does not have complete information about the previous transactions or revenues. This can affect future projections and decisions.
Note: This question is incomplete; here is the missing part:
Using the disclosures above as a starting point, brainstorm about the challenges regarding internal controls and that a company may face in doing business internationally?
Learn more in: brainly.com/question/10916805
Answer:
The journal entry to record depletion is :
Debit : Depletion Expense $74,235
Credit : Accumulated Depletion $74,235
Explanation:
<em>Depletion Expense = Depletion rate × units extracted during the year</em>
where,
<em>Depletion rate = (Cost - Salvage Value) ÷ Estimated total units</em>
Therefore,
Depletion rate = ($404,000 + $101,000 + $80,800 - $161,600) ÷ 4,040 tons
= $ 105 per ton
Therefore,
Depletion Expense = $ 105 per ton × 707 tons
= $74,235
<u>Journal Entry :</u>
Debit : Depletion Expense $74,235
Credit : Accumulated Depletion $74,235
Answer:
The optimal bundle is 6 pairs of dress shoes and 3 pairs of Crocs.
Explanation:
From the question,
Allowance (M) = $450; Price of dress shoes, Pd = $50; Price of crocs, Pc = $50
Note: MRS-price ratio, MUC- marginal utility from consuming casual Crocs ,MUD- marginal utility from consuming dress shoes
Optimal bundle is determined where MRS = Price ratio
MRS = MUC/MUD = 20DC/10C2 = 2D/C
Price ratio = Pd/Pc = 50/50 = 1
So, 2D/C = 1
Therefore, C = 2D
Budget constraint: M = Pd*D + Pc*C
So, 50D + 50*(2D) = 450
50D + 100D = 150D = 450
So, D = 450/150 = 3
C = 2D = 2*3 = 6
