Answer:
Explanation:
As we know that time interest earned ratio = Income before interest and taxes / interest expense.
Sales = 546000
less: cost of goods sold = (<u>244410</u>)
Gross profit 301590
Less: <u>expenses</u>
Depreciation expense =( <u>61900 </u>)
Profit before interest and taxes 239690
Less: tax
(239690 * 23%) = (<u>55128</u>)
Profit 184562
Profit - Retained earning Addition = Interest
184562 - 74300 = 110262.
Interest earned ratio = 239690 / 110262 = 2.17 times
Answer:
Explanation:
3. Trade Business ... including any and all business that buy from others companies to sell to the public.
4. Extraction business ... as they extract materials from the earth so that manufacturers can create valuable products for customers.
5. nonprofit corporation ... these corporations are legal entities which do not operate as a business and usually make all of their money through donations and grants to use for the benefit of the public, but can also sell goods and services for money.
6. franchise. ... there are many examples of franchises such as McDonalds, Target, Walmart etc. All of which sell the rights to individuals to operate under the franchises name.
7. retailer ... in other words these are the final stores where customers ultimately purchase the product. This can either be a brick and mortar store or an online shop.
Answer:
$26,516.67
Explanation:
Using the area occupied as a method of cost allocation (for maintenance and utilities expenses) will result in the departments occupying larger spaces bearing larger cost than departments occupying smaller spaces.
Furthermore, the same is applicable to the administrative expense which is based on the number of students.
Given that the administrative costs for the school were $63,000, maintenance fees were $25,000, and utilities were $7,300, the amount to be allocated to welding department is
= 70/280 * $63,000 + 12,000/36,000 * ($25,000 + $7,300)
= $15,750 + $10,766.67
= $26,516.67