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Solnce55 [7]
3 years ago
14

In a recent year hart corporation had net income of $125,000, interest expense of $30,000, and tax expense of $40,000. what was

hart corporation’s times interest earned for the year?
Business
1 answer:
makkiz [27]3 years ago
4 0

Net income = $125,000

Interest expense = $30,000

Tax expense = $40,000

Interest times hart corporation earned for the year = ?

First add all the expenses and then divided by interest expense to get interest times.

= ($125,000 + $30,000 + $40,000) / $30,000

= $195,000 / $30,000

<span>= 6.5 </span>

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A Student Loan is the answer.
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Finding ordered pairs that satisfy all of the inequalities in the system is called
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6 0
3 years ago
Wattan Company reports beginning inventory of 20 units at $44 each. Every week for four weeks it purchases an additional 20 unit
nydimaria [60]

Answer:

The cost of goods available for sale is $4,760

Explanation:

Goods available for sales include all those goods which is available on the beginning of the period and all the purchases / production during the period.

Beginning Inventory = 20 x $44 = $880

Purchases for the month = ( 20 x 45 ) + ( 20 x 46 ) + ( 20 x 49 ) + ( 20 x 54 )

Purchases for the month = $900 + $920 + $980 + $1,080

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6 0
3 years ago
On January 1, 2016, Woodstock, Inc. purchased a machine costing $40,000. Woodstock also paid $1,000 for transportation and insta
Margaret [11]

Answer:

b. $6,000

Explanation:

Depreciation is calculated on the cost of asset. Cost of asset includes the transportation and installation cost, because both are necessary in order to function the asset.

Accordingly total cost of asset = $40,000 + $1,000 = $41,000

Salvage value = $5,000

Thus, amount to be depreciated = $41,000 - $5,000 = $36,000

Useful life of the asset = 6 years

Straight line depreciation = $36,000/6 = $6,000 annually.

8 0
3 years ago
The payroll register of Castilla Engineering Co. indicates $2,820 of social security withheld and $705 of Medicare tax withheld
vfiekz [6]

Answer:

The journal entry shown below:

Explanation:

According to the scenario, the journal entry for the given data are as follows:

Salary expense A/c Dr $47,000

To Social security A/c $2,820

To Medicare tax A/c $705  

To Federal withholding A/c $7,990

To Retirement savings A/c $2,700

To Salaries payable A/c $32,785

(Being the payroll for current period is recorded)

Salaries payable computation =  Salary expense - Total other deductions

= $47,000 - ( $2,820 +,$705 + $7,990 + $2,700)

= $32,785

(Note: There are two Federal withholding amounts are given. we have considered the first amount to calculate.)

3 0
3 years ago
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