Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve this case study for me please!!!! if not clear please provide me with your email ACC 399 Case study Summer 2020 Msal is

please solve this case study for me
please!!!!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
if not clear please provide me with your email image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
ACC 399 Case study Summer 2020 Msal is a leading provider of genuine automotive spare parts for Land Rover and Jaguar. The company imports its products from U.K. and has the sole right to distribute them in the MENA region. However, there is other competitors in the market, MJ experienced successful growth in sales in Lebanon and has a strategy to expand its sales in the region and acquire more spare parts brands. In the preparation for the upcoming meetings in which senior management will consider several expansion and acquisition decisions, the assistant controller, prepared the financial statements for the year ending December 2019. The controller obtained a copy of the balance sheet at December 2018 (see exhibit I) and a list of the transactions that occurred during 2019 (see exhibit 2). While preparing the financial statements, the controller wondered whether the company would be in the position to expand in new markets and do more acquisitions and what constraints the existing de covenants would impose on the fimm strategy The change in the purchasing power of the Lebanese society and complexity of executing letter of credits due to the Lebanese economic and monitory conditions are likely to be significant issues facing the adoption of expansion strategy Required: 1. Consider the statement of financial position in exhibit I. Prepare the general journal and ledgers according to 2019 summary of transaction. 2. Using the results from (1), prepare the trail balance and the set of financial statements for the year ending December 2019 3. Do you support the company's plan to expand? Justify your answer Note: Case solution should be prepared using Microsoft excel MUI. Statement of Financial Position Year ended December 2018 ASSETS Non-current assets Property. Plant and Equipment 730,928 Les accumulated depreciation 314,118 416.810 Goodwill-net of amortization 193.263 Investments 122675 Total non-current assets 732,748 Current assets Inventory 66,851 Trades receivable 168,771 Other current assets 19,471 Cash and cash equivalent 1.842 256.935 Totales 599,683 LIABILITIES Non-current de Other long-term liabilities 59,05! 318617 2:05 + IE 1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Rehabilitation Tax Credit IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304114686, 978-1304114686

More Books

Students also viewed these Accounting questions

Question

4. Does cultural aptitude impact ones emotional intelligence?

Answered: 1 week ago