Answer:
7.86
Explanation:
Given,
Net income = $16,481
Tax rate = 21 %
interest expense = $3,681
Depreciation expense = $4,385
Cash Coverage ratio =
EBIT = Expense before tax
Cash Coverage ratio =
Cash Coverage ratio =
Cash Coverage ratio =7.86
Hence, the cash coverage ratio is equal to 7.86.
Answer: True
Explanation: The chances of a taxpayer being audited by the IRS has decreased substantially over the last decade. This is in part due to a decrease in the IRS 's budget, an increase in their workload with a subsequent decrease in its enforcement workforce. In fiscal 2019 the IRS audited about 0.45% of individuals returns, and this figure decreased from 2018, which sat at 0.59%. Nowadays IRS focuses more on auditing the taxes of the wealthy, and organisations nationwide.
Diversity should not be applauded because the people of a nation should be from that nation
Answer:
D. $605,500
Explanation:
At the end of 2014, the Retained Earning balance was $533,000. This serves as our beginning balance for the year 2015.
Furthermore, Dividends are expected to be paid out, i.e. a deduction on the balance sheet.
Retained Earnings on the 2015 budgeted balance sheet = Beginning Balance + Expected Net Income - Expected Dividend
=533,500+112,000-40,000
=$605,500