The Morrit Corporation has $1,080,000 of debt outstanding, and it pays an interest rate of 11% annually. Morrit's annual sales are $6 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 6 to 1, then its bank will refuse to renew the loan, and bankruptcy will result. What is Morrit's TIE ratio?

Answers

Answer 1

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


Related Questions

Calculate the FV for the following 3 scenarios. Investment scenario #1:
You invest $1,000 (PV) for 10 years (n) at an interest rate of 5% (r). What is the amount you would receive at
the end of 10 years (FV)?
Investment scenario #2:
You invest $5,000 (PV) for 20 years (n) at an interest rate of 8% (r). What is the amount you would receive at
the end of 20 years (FV)?
Investment scenario #3:
You invest $10,000 (PV) for 30 years (n) at an interest rate of 12% (r). What is the amount you would receive
at the end of 30 years (FV)?
PLEASE ANSWER WITH WORK SHOWN :)

Answers

Answer:

?

Explanation:

Answer:

$2191.12

Explanation:

We are asked to find the value of a bond after 10 years, if you invest $1000 in a savings bond that pays 4% interest, compounded semi-annually.

FV=C_0\times (1+r)^n, where,

C_0=\text{Initial amount},

r = Rate of return in decimal form.

n = Number of periods.

Since interest is compounded semi-annually, so 'n' will be 2 times 10 that is 20.

4\%=\frac{4}{100}=0.04

FV=\$1,000\times (1+0.04)^{20}

FV=\$1,000\times (1.04)^{20}

FV=\$1,000\times 2.1911231430334194

FV=\$2191.1231430334194

FV\approx \$2191.12

Therefore, the bond would be $2191.12 worth in 10 years.

Fred must have licensure in order to work as a Barber in New York State. When Fred proves that he has the training and skills needed to be a Barber, who provides the licensure?

Answers

Answer: the body governing control on business

Explanation:

The body responsible for issuing of tax in most countries and cities differs, in most cities an organization could be set up to monitor different business or a specific business or the state government of that city may stand up for such responsibility. It all depends on the state.

Answer:

the government

Explanation:

It's the government who give license to work as a barber, the policies change according to state. However, in general basics, it takes around 1500 hours of instruction, and the minimum age is 16 years old, to have high school diploma and past the licensing exam.

what do you think about how the seniors of 2020 should have there graduation.

Answers

Answer:in our town what the seniors are doing is they drive up to the field in their cars and then one by one get out and walk the stage.

Answer:

^^

Explanation:

During the interview process with both companies, Justin learns something about a new product that Big Box Co. Is producing that will directly compete with Hope Springs. Because Justin learned about the ethics of and what is unethical, he will not share this information during his interview with Hope Springs.

Answers

Answer:

Ethics of Competition

Explanation:

Justin Justin learned about the ethics of competition, which implies that he does not disclose what he knows even if it is not in favour of Hope Springs because competition allows for such concealment of information.

Remember, a major facet of the"ethics of competition" is that it allows for freedom, so Big Box Co. has the freedom to produce any new product that would give her greater advantages.

Ethics in the organization have an important role in the marketing of the organization and the employee's ethics are responsible for the company's work. The organization's ethics helps in evaluating the stake of the company in the market.

The ethics learned by Justin helps him maintain the principle of both the companies. The sharing of information from Justin's end will deteriorate his employee's ethics, and his chances of being selected for the company's position may reduce.

For more information about ethics, refer to the link:

https://brainly.com/question/25510191          

The founders of the U.S. wanted to avoid establishing a permanent aristocracy or group of wealthy families who could control a great deal of the nation’s wealth. How is this idea related to estate and gift taxes?

Answers

Answer:

There are two points that I would like to single out that are very similar. First by implementing tax and gift taxes, Founding Father wanted to weaken families and business of that time, since there was a threat that rich families could become permanent aristocracy which over time could lead to the point where that families will rule the US. Second, by implementing those two taxes, government is taking a share from receivers since the receivers are getting some good that they did not earn it, they have just received it as a gift or as an estate. This way inheritance or gift would be of a much lesser value then it was before someone’s death or before someone made a gift. This was important because wealth of powerful families would just accumulate and grow so government of that time, strictly out of political reasons, prescribed those two taxes, so that the wealth will be smaller of value after tax.

The idea of avoiding an aristocracy by the founders of USA is related to estate and gift taxes because:

There was a need to reduce the influence of the wealthy

According to the given question, we are asked to show the link which the founders of America had to preventing aristocracy and imposing estate and gift taxes.

As a result of this, we need to remember than an aristocracy is a government based on the wealthy and influential members of the society and this was one of the things which the Founding Fathers of America sought to prevent.

With this in mind, we can see that they imposed gift and estate taxes which was specifically targeted at the extremely wealthy so that their influence would be reduced and the country would not become an aristocracy.

Read more here:

https://brainly.com/question/20830385

Drag each tile to the correct location. Match each scenario to the appropriate form of business communication. Arty wants to talk with a coworker about providing support for another coworker. Samir wants to share an editing checklist he created with his team. Elena wants to quickly ask her team leader a question about a task she's working on. Rosanna needs to talk to an employee about his poor performance.

Answers

Answer:

digital messaging:

Samir wants to share an editing checklist he created with his team.Elena wants to quickly ask her team leader a question about a task she’s working on.

face-to-face or phone calls

Rosanna needs to talk to an employee about his poor performance.Arty wants to talk with a coworker about providing support for another coworker

Mason bought a rotisserie in preparation for a party he was planning. When he put a chicken on the rotisserie, it would not rotate, but stayed in one position where it burned the chicken on one side a left it raw on the other. Does Mason have any recourse?

Answers

Answer:

Yes Mason has recourse

Explanation:

In this scenario Mason bought a rotisserie that did not work as expected. That is it did not rotate as it should thereby causing burning of the chicken.

Even is the seller of the rotisserie did not give a warranty to cover the product, there is an implied warranty that covers the use of goods.

Implied warranty is the minimum requirement expected from the use of a product. For example a.television is expected to come on when in use..

So Mason has a recourse because he is covered by implied warranty.

Which two sentences describe characteristics of a partnership?
The owners are free from personal liability.
The owners pool their resources to raise capital.
The owners in a partnership are called members.
The business benefits because owners can share responsibilities.

Answers

Answer:

The owners pools their resources to raise capital

The business benefits because owners can share responsibilities

Explanation:

The partnership business is a form of business where two or more people come together to form a business, It entails pooling of resources together and joint management towards profit making.It is guided by partnership deed.

Members are referred to as partners and not members. It does not have a separate entity , hence the partners liabilities for debts

It has a close similarities to sole proprietorship but the membership varies from two - One hundred.

Answer:

The owners pools their resources to raise capital

The business benefits because owners can share responsibilities

Explanation:

Question 14 (2 points)
Which career cluster involves hands-on occupations and possibly working outside?
Investigative
Realistic
Enterprising
Conventional

Answers

Answer: Enterprising

Explanation: Hands-on jobs are occupation that requires little education, it relate to the practice of learning from experience on the job rather than reading and learning from books. The career cluster of hands-on occupation includes; technicians, plumbers, woodwork, hygiene and catering workers etc.

Enterprising is characterized by great imagination and initiative with energetic to carry out work . Enterprising best fit hands-on career cluster.

The manager of East India Ice Cream Shop keeps track of the number of customers served at different periods of the day in an attempt to plan a schedule for workers that matches the demand for the restaurant's products. By using this tracking system, the manager of East India is utilizing ________ control.

Answers

Answer: Output

Explanation: The output control system refers to one of the organizational control systems which is employed by business strategist and establishment in tracking the progress, growth, flaws and ways whereby an organization can improve, provide better services and ultimately make more revenue. The output control system is focused on that aspect of a business offering which can be quantified, such that executives could analyze the feedback and thus use it as a guide to provide and improve on future projects or services. In the scenario above, data was studied to identify peak periods in other to schedule worker's shift so that the organization would not fall short of workers at the time which they are mostly required.

Sometimes applicants are not hired solely because of a wrong impression the employer received during the interview.



Please select the best answer from the choices provided



OT



OF

Answers

The correct answer is T (True)

Explanation:

In the process of hiring a new employee, there are many factors employers consider such as experience, knowledge, communicational skills, among others. Besides this, one of the factors that influence employers in this process is the impression they have about candidates. For example, a candidate without enough experience or knowledge might still be hired if the employer had the impression that the candidate is willing to learn and is interested in the job. In the same way, applicants with enough experience and knowledge might not be hired if the employer has a negative impression of them. Thus, it is true some applicants might not be hired only because of a wrong or negative impression the employer had about them during the interview.

Answer:

true

Explanation:

Your new team is working hard, but they are all less experienced than you and don't complete their tasks as quickly. What would you be most and least likely to do?

Answers

Answer:

I would encourage them ,show them how the work is done and tell them to keep working harder

Explanation:

Why does the US import oil?

A.because it has exported too much oil
B.because it does not produce any oil
C.because it does not produce enough oil
D.because it has exported too little oil


Answers

Answer:

C. because it does not produce enough oil.

Explanation:

Although, the United States is one of the leading producers of oil, yet still import oil because it does not produce enough oil to meet the demand of its citizens. In other words, the United States consumes more than what she can produce.

Another reason is that most refineries in the United State are created basically for heavy crude whereas most of what she produce are light crude oil. The United States import the oil she is able to process while she export to other countries to complete the setup process.

The remedy to the above situation is when new refineries are built which are somewhat expensive or the existing refineries are upgraded to meet with the demand.

Answer:

D. Because it does not produce enough oil.

edg 2020.

Coach Sieb Has a treadmill desk. Walking on the treadmill will break down her triglyceride Levels 90% faster what is the percent that it breaks down while sitting

Answers

Answer:

0%

Explanation:

Base on the scenario been described in the question, where we saw coach Seib has 90% faster breaking her triglyceride Levels while working, when sitting, she has a 0% of breaking her triglyceride Levels because no movement, there will be no breakdown in the triglyceride Levels

Which multimedia and interactive elements do you think would best support your viewpoint on the topic you chose for your blog? Write two to four sentences explaining what multimedia and interactivity you will use and why.

Answers

Answer:

I will use images and details from credible websites, which will boost my own credibility and support my claim. I will also use charts and graphs from trusted web resources, such as government and university sites, to make my supporting evidence clear

Explanation:

I took the test

Brainiest???

The Use of videos, audios, and images in the blog will not only make it attractive but also make it credible.

Best Way to Write Blog

To write a credible and attractive blog we need to use multimedia such as videos, images, link of credible websites. We can also use other elements which can autocorrect grammer mistakes, can easily provide best charts and graphs.

The use of these elements can give a better outlook to our blog, and also create a sense of trust and credible information.

Learn More about Blog here:

https://brainly.com/question/898474

100 POINTS PLEASE HELP!!! Designers consider both elements and principles of design when creating advertisement layouts. Research one element of design and one principle of design. Write a 5- to 10-sentence paragraph explaining how each might be used during the creation of an ad.

Answers

Answer:

Designers could use size in order to bring the most important aspects such as the message or product to the eye of those viewing the ad. Designers could also use color in order to showcase the most important products vs those apart of a collection. Designers could use harmony to bring the ad together and make it all seem as if it is one piece. Variety could also show that the designers have many different things to offer to the public.

Explanation:

Sorry, I tried my best, idk if this is what you are looking for?

Element of Design: One element of design that is used is value, which helps create shading texture when needed. This can help a substance seem "popped-out", and can be used to catch people's attentions. Design is important also in creating what can be seen by the naked eye, and what is placed on there can draw different people into seeing the product in their own eyes. Appearance can be appealing or even unappealing, in getting people to be interested & even talk about the design. Designers design something that is either aesthetically pleasing, or would catch a person's attention, and hopefully spread the word around. Examples of value can be shading, different shades of the same color, etc.

Principle of Design: One principle of design is harmony, which can make it feel wholesome or pleasing the a person. This is a very good way to draw people (especially a sect commonly known as perfectionists) to buy the product. The opposite can also be said, as the distortion can also draw people to buy the product. As long as the design appeals to potential buyers, it is worthwhile to use.

~

2) Moonlight Company wrote off the account of one of its customers, X, in 2018 for $500. On January 21, 2019, X unexpectedly repaid his account in full. The company uses the direct write-off method to account for uncollectible receivables. Journalize the entries required for Moonlight Company on January 21, 2019

Answers

Answer:

A journal entry was carried out for Moonlight Company for January 21, 2019, and is shown below in the explanation section

Explanation:

Solution

Given that:

Moonlight Company Journal Entries on January 21, 2019

JOURNAL ENTRY  

Date                Account name                    Debit         Credit

Jan. 21, 2019               Cash                       500  

     (Income statement -Bad debts recovered)              500

         (record the bad debts recovery from customer X)

what is product placement

Answers

Answer: A practice in which manufacturers of goods or providers of a service gain exposure for their products by paying for them to be featured in movies and television programs.

Explanation:

Explanation:

Product placement Is where a company or seller places a product In a certain location so that the consumer Is more apt to buy that product, such as a candy bar or pack of gum near the cash register, leading the consumer to an impulse buy.

On January 15, the end of the first biweekly pay period of the year, North Company's payroll register showed that its employees earned $26,000 of sales salaries. Withholdings from the employees' salaries include FICA Social Security taxes at the rate of 6.2%, FICA Medicare taxes at the rate of 1.45%, $2,500 of federal income taxes, $648 of medical insurance deductions, and $170 of union dues. No employee earned more than $7,000 in this first period. Prepare the journal entry to record North Company's January 15 (employee) payroll expenses and liabilities Answer is not complete. Date Jan 15 No General Journal Debit Credit Sales salaries expense FICA-Social sec. taxes payable FICA-Medicare taxes payable Income taxes expense Employee life insurance payable 26,00 17 Employee union dues payable Salaries payable

Answers

Answer:

Explanation:

Debit :

Sales salaries payable $26,000

Credit :

FICA- Social security taxes payable: 1,612

FICA- Medicare taxes payable: 377

Federal income taxes payable: 2,500

Employment medical insurance payable: 648

Employee union dues payable: 170

Salaries Payable: 20,693

Social security taxes = 26,000 x 6.2%

Medicare taxes = 26,000 x 1.45%

Answer:

January 15:

Dr. Sales salaries expense: 26,000

Cr. FICA- Social security taxes payable: 1,690

Cr. FICA- Medicare taxes payable: 406

Cr. federal income taxes payable: 2500

Cr. Employment medical insurance payable: 648

Cr. Employee union dues payable: 170

Cr. Salaries Payable: 20,586

Explanation:

January 15.

Dr. Sales salaries expense: 26,000

Cr. FICA- Social security taxes payable: 1,690

Cr. FICA- Medicare taxes payable: 406

Cr. federal income taxes payable: 2500

Cr. Employment medical insurance payable: 648

Cr. Employee union dues payable: 170

Cr. Salaries Payable: 20,586

WORKING :

FICA - Social security tax = 0.065 × 26000 = $1690

FICA- Medicare taxes payable: 0.0145×26000 = 377

This is for my NJROTC class! Pls help!

Answers

Answer: Option 1

Explanation:

Answer:

option1

Explanation:

Research indicates that 17 percent of consumers recognize the Flatfeet brand of athletic wear. If there are 30,000 consumers in your town, how many will recognize the Flatfeet brand?

Answers

Answer:

5,100 Consumers

Explanation:

The 17% of the total consumer recognize Flatfeet brand which means:

Consumers who recognize Flatfeet = Total Consumers * percentage of people that recognize the brand

Here

Total consumers are 30,000

And

Percentage of people that recognize the brand is 17%

By putting values, we have:

Consumers who recognize Flatfeet Brand = 30,000 * 17%

Consumers who recognize Flatfeet Brand = 5,100 Consumers

Identify three things that:
Speed up the inflow of cash into a business

Answers

Money, smart ideas and good speech

In general, how long does it take to accomplish a long-term goal?
A.
a few days to a week
B.
a few weeks to a month
C.
a few months to a year
D.
more than a year
Reset
Next

Answers

Answer:

The answer is D.more than a year

Explanation:

Write a paragraph about the financial impact of the coronavirus on our country. What evidence have you seen?

Answers

Answer:

2.9 million more Americans have filed for unemployment, bringing the two-month total to more than 36 million. The US April unemployment rate has risen to a record 14.7%, with more than 20 million jobs lost last month.if more people keep being unemployed the world would be chaotic. And even worse millions can die from starvation and lose their homes.

Explanation:

HELP 100 POINTS!! Review different ways businesses advertise on the Internet. Research three different methods of online advertising. For each method, include the following information. Be specific as pricing will be determined on size and reach of the ad. (5-6 sentences for each method)

Answers

Social media adsTargeted adsOnline commercial videos

Those are some of the ways to elaborate on the topic but plz write the essay yourself

Thomas company uses a standard cost system and recognizes the materials purchase price variance at the time materials are purchased. information for raw materials for product rbi for the month of october follows: standard unit price $1.80 actual purchase price per unit $1.65 actual quantity purchased 4,000 units actual quantity used 3,900 units standard quantity allowed for actual production 3,800 units what is the materials purchase price variance?

Answers

Answer: $600F

Explanation:

Given the following :

standard unit price - $1.80

actual purchase price per unit - $1.65

actual quantity purchased - 4,000

units actual quantity used - 3,900

units standard quantity allowed for actual production - 3,800 units

Material purchase price variance = ( Actual unit price of material - standard unit price of material) × Actual unit of material purchased

($1.65 - $1.80) × 4000

( $0.15) × 4000

$600F (Favorable) because standard price is higher than actual price

If you are a Japanese producer who sells products in the US, you want a foreign exchange future without going through the futures market. So, you borrow money in dollars with an interest rate of 5% and immediately convert it to yen at a rate of 1 dollar to 100 yen. Then you put the money in a Japanese interest-bearing account with an interest rate of 10%. What is the forward exchange rate in this case?

Answers

Answer:

104.76 yen per dollar

Explanation:

the forward rate = spot rate x [(1 + foreign interest rate) / (1 + domestic interest rate)] = 100 yen x [(1 + 10%) / (1 + 5%)] = 100 yen x (1.1 / 1.05) = 104.76 yen per dollar

Since the interest rate in Japan is higher than the interest rate in the US, investors will start to purchase more yens in order to gain higher interest rates, which will eventually appreciate the yen against the dollar until both interest rates match.

In one of the training sessions in your company, you notice several members are not from the United States. These members are also reticent and not contributing to the session. What technique can you use to encourage these members to voice their opinions?

A. brainstorming
B. passing the clipboard
C. go-round
D. whole-group discussion

Answers

Answer:

Go-round

Explanation:

It is not uncommon that some people can be reticent and not contributing to discussion during a session. This does not mean that such people do not have anything to contribute but may just be shy .

One technique to encourage these members to express their opinion is by employing the go - round discussion method. This can give them the courage to voice their opinion when it is their turn to speak


You invest $5,000 (PV) for 20 years (n) at an interest rate of 8% (r). What is the amount you would receive at
the end of 20 years (FV)?

Answers

Answer:

sweet

Explanation:

Which is the most common type of precipitation?

Answers

Answer: Rain.

Explanation:

Bill Nye.

Answer: Rain

Explanation:

Other Questions
Consider this quadratic equationX^2+2x+7=21 Convert 2.5 tons into pounds.2.5 T =lb()) 500 lb(1) 2,500 lb1) 5,000 lb>> 50 lb If a hypothetical future Earth has increased the amount of radiation emitted to 604 W/m, calculate the hypothetical global surface temperature in degrees Kelvin and then in Celsius Find the Surface Area of the Square PyramidStep 1:Step 2:Step 3:Step 4: *(20 Points) In the water cycle diagram above, which letter representsgroundwater?Select One:QSTR Which chromosome is involved in Prader Willi and Angelman Syndrome?A) Chromosome # 46B) Chromosome # 1C) Chromosome # 15D) Chromosome #23 HOW did the goals of the soviet union change over time? Compare the initial goals of the Soviet Union to its later actions Soy bean type 1 yielded 125 bushels per acre last year at a research farm. This year, soy bean type 2, planted in the same location, yielded only 100 bushels per acre and there was a drought. The researchers do not know whether the difference is a result of the superiority of type 1 soy beans or the drought. What is this an example of? The function Fx) = log5 xis increasing. Michael created this painting what art style did she use The music teacher has a list of 128 students who have signed up for music classes. The music teacher can register 6 students in each class. What is the least number of classes needed for all the students to be registered in a class? The surface area of a sphere is 200.96 square centimeters. What is the approximate volume of the sphere? Use 3.14 for . Round your answer to the nearest hundredth. A population is growing continuously at a rate of 5%. If the population is now 3400, what will it be in 17 years? Round to the nearest thousand. A flagpole casts a shadow that is 25 feet long. A signpost near the flagpole is 3 feet tall, and it casts a shadow that is 5 feet long. How tall is the flagpole? will an organism always have the same response to a chemical regardless of the dose it is exposed to? What was one major cause of the Great Depression?A)Banks lent more money than they had and made risky investments on Wall Street.B)Governments forced banks to only lend out what they had on hand, freezing credit markets.C)The United States had paid a tremendous economic cost for World War I, and couldn't pay its war debts.D)Workers were being paid too much, and many businesses couldn't afford to employ them. Provide an example of a time in your personal or work life when you used the household measuring system and measured out an exact amount of liquids or solids. Millie has a rectangular pen for her dog that measures 10 ft wide by 12 ft long. She wants to increase the area to 168 ft by increasingthe width and length by the same amount, X.Which equation can be used to find x? a(b+c) =a.b+a.c, where a, b, and c are real numbers. Use the distributive property to simplify the expression 8(3+4)=24+ ? How is the AB blood group an example of codominant inheritance