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yKpoI14uk [10]
3 years ago
10

When a times-interest-earned ratio is 8.5, this means that the firm:?

Business
1 answer:
never [62]3 years ago
6 0
<span>Answer: This means that income is 8.5 times greater than his annual interest expense. In other words, it can afford to pay additional interest expenses.</span>
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uring December, Rainey Equipment made a $676,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 1.5
ExtremeBDS [4]

Answer:

Please refer to the below for the appropriate journal entry

Explanation:

Accounts receivable Dr $726,700

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Sales revenue account Cr $676,000

Sale taxes payable account Cr $50,700

{(6% + 1.5%) × $676,000

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Which of the following statements about Treasury Stock is correct? Multiple Choice The balance in the Treasury Stock account inc
DedPeter [7]

Answer:

The balance in the Treasury Stock account reduces total Stockholders' Equity

Explanation:

Treasury stock also known as reacquiring stock refers to outstanding shares which were previously owned by a company which is then bought back by shareholders of that company. Treasury stock do not have much value but provide  means of  raising the price of share which in turn provides profits for investors.  

Treasury stock is normally recorded in the shareholders equity section of the balance sheet representing the number of repurchased shares from the open market, thereby reducing shareholder's equity by the amount paid for the stock

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