Answer:
The correct answer is 2.29
Explanation:
The debt-to-capital ratio (D/E) is a measurement of a company's financial leverage.
D/E=Total debt/Total equity
Total debt=(notes payable (10.5) + current maturities of long-term debt (39.9) + long-term debt (239.7) = 290.1
Total Equity = 126.6
D/E= 290.1/126.6=2.29
Thus, the debt to equity ratio for Luther in 2018 is closest to 2.29
Answer:
the cost of the merchandise sold for November if the company uses LIFO is c. $590
Explanation:
LIFO Inventory System sells the Inventory recently acquired first followed by the Older Inventory Acquired.
<u>Cost of the merchandise sold for November - Calculation</u>
November 4 : 10 units × $19 =$190
November 17 : 20 units × $20 =$400
Total =$590
Answer:
Explanation:
Let's recall the formula that will be used for calculations
The annual payment on the loan=Present value of a loan/PVIFA
r=7%; n=5
Annual payment on the loan=71500/4.100197=17438.19
OR we can use the financial calculator and input the following data:
PV = 71500; r=7%; n=5; PMT=?
PMT=17438.19
Amortization schedule:
YEAR Beg. balance Total PMT Interest PMT Principal PMT End. Bal.
1 71500 17438.19 5005 12433.19 59066.81
2 59066.81 17438.19 4134.68 13303.51 45763.3
3 45763.30 17438.19 3203.43 14234.76 31528.54
4 31528.54 17438.19 2207 15231.19 16297.35
5 16297.35 17438.19 1140.81 16297.38 0
*5005 = 71500 ×0.07
12433.19=17438.19-5005 and so on...
Answer:
Depreciation Expense=$7800
Explanation:
Step 1:
Calculate Net Income:
Net Income=Retained Earnings + Dividends
Net Income=$6250+$2200
Net Income=$8450
Step 2:
Calculate earnings before tax:
Earnings before tax=Net Income/(1-Tax Rate)
Earnings before tax=$8450/(1-0.35)
Earnings before tax=$13000
Step 3:
Depreciation Expense=Sales-Costs-Interest expense-Earnings before tax
Depreciation Expense=$48,000- $22,400-$4,800-$13000
Depreciation Expense=$7800
Answer:
Explanation:
Number of completed barrels = 216 + (244-216)*60%
= 233 barrels
Cost per barrel = (3245+3230)/233 = 27.8
Cost of oil shipped in pipeline = 216 * 27.8= 6003 millions
Cost of work in process ending inventory = (244-216)*60% * 27.8
= 467.04 million