Answer:
(a) 62%
(b) 3.83 times
(c) Yes
Explanation:
(a) Ellie's debt ratio:
= Total Debt ÷ Total assets
= $39 million ÷ $63 million
= 0.62 or 62%
(b) Ellie's times interest earned ratio:
= Interest ÷ EBIT
= $23 million ÷ $6 million
= 3.83 times
(c) Yes, it has enough times interest ratio.
If Interest expenses increased to $7 Million, then
Company could easily raise more debt to finance additional funding needs.
It depends on what cover he have even full cover or lie ability insurance
Answer:
APR = 669.17%
Explanation:
Cash 4U is charging $55 in interest for 6 days, that means it is charging Bob $9.17 in interest per day which is equivalent to 1.8333% daily interest. If we want to determine the APR we just have to multiply the daily interest by 365 days = 1.8333% per day x 365 days = 669.17%
Answer:
The correct answer is $177,955.
Explanation:
According to the scenario, the computation of the given data are as follows:
Capital in excess of par account = $74,500
Common stock = $85,000
Retained earning = $141,500
So, we can calculate the balance in the capital in excess of par account be after the dividend by using following formula:
Capital after Dividend = Balance sheet amount of Capital + ( Issued additional share × Capital in excess of par per share )
Where,
Issued additional share = 11% × $85,500 = 9,405
And Capital in excess of par per share = $12 - $1 = $11
By putting the value, we get
Capital after dividend = $74,500 + ( 9,405 × $11)
= $74,500 + $103,455
= $177,955
Answer:
A two-column schedule listing names and balances of all ledger accounts.
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
A trial balance consists of a two-column schedule listing names and balances of all ledger accounts.