Question: Visit SEC website (https://www.sec.gov/edgar/searchedgar/companysearch.html) and find the relevant information from the 10K report (filed on March 16, 2021) of Dollar Tree Inc. for the year

Visit SEC website (https://www.sec.gov/edgar/searchedgar/companysearch.html) and find the relevant information from the 10K report (filed on March 16, 2021) of Dollar Tree Inc. for the year ended on January 30, 2021, and answer the following questions.

Required:

Answer with supporting information from 10K report.

a. When is sales revenue recognized and does it include sales tax?

b. What is the amount of long-term debt and how much (in millions) is due in the year 2024?

c. What is the measurement basis of assets and liabilities that are not subject to fair value adjustments?

d. Is the Family Dollar trade name amortized?

e. What is the depreciation method for Property, plant and equipment?. What are the useful lives of Furniture, fixtures and equipment?

f. What are considered cash equivalents?

g. Recently, Dollar Tree Inc. management has expressed concerns over an activist investor who owns approximately 5.7% of the outstanding common stock. If this investor asks Dollar Tree Inc. to record his personal living costs as expenses of Dollar Tree Inc., explain what accounting assumption will be violated?

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a When is sales revenue recognized and does it include sales tax ANS WER Sales revenue is recognized at the time of sale which is when the merchandise is delivered to the customer and title passes to ... View full answer

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