1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
shtirl [24]
2 years ago
9

g provides the following income statement for 20X9: Net Sales $240,000 Cost of Goods Sold 110,000 Gross Profit $130,000 Operatin

g Expenses: Selling Expenses 45,000 Administrative Expenses 12,000 Total Operating Expenses 57,000 Operating Income $73,000 Other Income and (Expenses): Loss on Sale of Capital Assets (29,000) Interest Expense (1000) Total Other Income and (Expenses) (30,000) Income Before Income Taxes $43,000 Income Tax Expense 5000 Net Income $38,000 Calculate the times-interest-earned ratio.
Business
1 answer:
grin007 [14]2 years ago
8 0

Answer: 44 times

Explanation:

Times interest earned ratio aims to show just how much the company is able to cover its interest obligations using its operating income.

Times interest earned ratio = Net income before interest / Interest expense

Net income before interest = Operating income loss on sale of capital assets

= 73,000 - 29,000

= $44,000

Times interest earned ratio = 44,000 / 1,000

= 44 times

You might be interested in
Maple Leaf, Inc., a television manufacturer, would like to reduce its inventory. To this end, you are asked by the operations ma
irga5000 [103]

Answer:

Maple Leaf, Inc.

Inventory Turnover:

b. Greater than 2 but less than 3

Explanation:

a) Data and Calculations:

1) Average inventories:

Raw materials     $2,500,000

Work-in-process  $1,000,000

Finished goods      $800,000

Total average inventory   $4,300,000

Cost of goods sold = $12,000,000

Inventory Turnover = Cost of goods sold/Average Inventory

= $12,000,000/$4,300,000

= 2.79 times

2) Inventory turnover is a financial ratio that shows the number of times in a year that inventory has been sold by Maple Leaf, Inc.  When it divides the number of days, say 360 days in a year, the ratio that comes out shows the number of days it takes Maple to sell its inventories.

3 0
3 years ago
The board of directors for tundrapro, inc., is searching for a new ceo. the firm is in need of new direction after suffering sev
larisa86 [58]
The board needs employees who have transformational qualities as well.
7 0
3 years ago
Generally, the payment of an accelerated death benefit is _______ to a recipient if the benefit payment is qualified.
IrinaK [193]

The correct answer is Tax free.

An Accelerated Death Benefit (ADB) enables the holder of a life insurance policy to obtain a portion of the death benefit from the insurer before passing away. The policyholder must typically have a terminal illness with a life expectancy of two years or fewer.

<h3>How are benefits for hastened death paid?</h3>

A lump amount may be provided as part of some hastened death benefits. With a benefit for a terminal disease, this happens more frequently. Payments for chronic illnesses are more frequently made. According to Schelhaas, some accelerated death benefit riders are simple because they pay a specific portion of the death benefit.

To know more about Insurance , visit: brainly.com/question/27822778

#SPJ4

8 0
1 year ago
Technology is defined as human ________________ in action that involves the generation of knowledge and processes to develop sys
dybincka [34]

Answer:

innovation

Explanation:

Technology is defined as human innovation in action that involves the generation of knowledge and processes to develop systems that solve problems and extend human capabilities.

To innovate is to make changes in something established, especially by introducing new methods, ideas, or products.

7 0
2 years ago
Why is accounting hard?
hjlf

Answer:

Accounting can be tough. ... The course load is quite intense, with classes in mathematics, finance, business, and accounting. While some concepts can be challenging, by studying the material and taking the time to make sure you fully understand accounting principles, you can be successful.

<h3>Please mark as brainliest</h3>
6 0
2 years ago
Other questions:
  • Cesar claims he found a definite way to save money, "Buy direct from the manufacturer. Any time intermediaries get involved, you
    7·1 answer
  • "When ClubCorp had an attrition problem, they hired a market research company to get to the bottom of things. What two things di
    7·1 answer
  • What is the difference between federal purchases and federal​ expenditures?
    13·1 answer
  • Valley Farms offers to sell Whole Harvest Bakeries, Inc., five hundred bushels of wheat. Whole Harvest responds, "We agree to bu
    8·1 answer
  • Ken and lynn paid $5,000 to purchase series ee bonds in the name of their​ 11-year-old son. The son has no other​ income, and th
    9·1 answer
  • David Nason purchased a recreational vehicle for $25,000. David went to City Bank to finance the purchase. The bank required tha
    8·1 answer
  • A premium bond is defined as a bond that: Multiple Choice A) has a duration that is less than 1.0. B) has a face value that exce
    9·1 answer
  • Suppose there is a duopoly of gas companies, Energy X and Energy Y. The following is the market demand for gas. There are no mar
    13·1 answer
  • Segment Contribution Margin Analysis The operating revenues of the three largest business segments for Time Warner, Inc., for a
    11·1 answer
  • What are REITs? please help
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!