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Brilliant_brown [7]
3 years ago
5

A company had interest expense of $7,800, income before interest expense and income taxes of $19,200, and net income of $9,600.

The company's times interest earned ratio equals:
Business
1 answer:
mina [271]3 years ago
3 0

Answer:

2.5 times

Explanation:

The company's times interest ratio is computed as;

= Income before interest expense and income taxes / Interest expenses

Given that;

Income before interest expense and income taxes = $19,200

Interest expenses = $7,800

Then,

Company's interest times ratio = $19,200 / $7,800

Company's interest times ratio = 2.5 times

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Determine whether the following arguments are best interpreted as being inductive or deductive. Also state the criteriayou use i
eduard

Answer:

Congruent triangles has the two angles of one of their sides equal

This means if a triangle side has angles of 30 and 60 degrees the other triangle also has 30 and 60 degrees.

An isoceles triangle will have 2 angles of the same degree. Thus, If triangle A is isoceles then, two angles add up to make the third equal to one these two.

We should remember that angles inside a triangle always add up to 180ª

2a +b = 180

a + b = 180 - a

if the other triangle has 2 angles mathing the isoceles triangle, then it is also  an isoceles.

Uploaded an image of an isoceles triangle to understand better.

Explanation:

6 0
3 years ago
In 2019, George and Martha are married and file a joint tax return claiming their two children, ages 10 and 8 as dependents. Ass
Tresset [83]

Answer:

The answer is option (b)$4,000

Explanation:

Solution

Given that:

Now

The income of George and Martha is =$119.650

For year 2019 child tax credit is $2,000 per dependent child subject to a minimum income of $2,500.

The Income limit for Married Jointly Filed is= $400,000.

Thus

They are eligible for $2,000 tax credit per child.

So,

Tax Credit = $2,000 * 2

= $4,000

Note: The AGI limit phaseout begins at $400000 for joint tax filers

8 0
4 years ago
As of December 31, Year 1, Flowers Company had total assets of $220,000, total liabilities of $66,000, and common stock of $110,
liberstina [14]

Answer:

(b) After-closing balance in the Retained Earnings account on December 31, Year 1,

Total Stockholder's equity = Total assets - Total liabilities

                                            =  $220,000 - $66,000

                                            = $154,000

After-closing balance of Retained Earnings = Total Stockholder's equity - Common stock

                                                                        = $154,000 - $110,000

                                                                        = $44,000

(a) Before-closing balance in the Retained Earnings account on December 31, Year 1.

Net Income = Revenue - Expenses

                   = $40,000 -  $23,000

                   = $17,000

Before-closing balance of Retained Earnings:

= After-closing balance of Retained Earnings + Dividend paid - Net Income

= $44,000 + $3,200 - $17,000

= $30,200

(c) Before-closing balances in the following accounts:

Revenue = $40,000

Expenses = $23,000

Dividend = $3,200

(d) After-closing balances in the following accounts:

Revenue = $0

Expenses = $0

Dividend = $0

Because revenue and expenses are transferred to income statement and dividend are transferred to retained earnings.

6 0
3 years ago
The number of shares issued represents the number of shares ______. Multiple choice question. the company is allowed to sell sol
skad [1K]

Answer:

sold

Explanation:

6 0
3 years ago
Q 3.35: paulson oil account balances at january 31st include: cash $70,000, accounts receivable $100,000, common stock $120,000
AleksAgata [21]
Cash Balance at the beginning of February:
70,000
Collected $25,000 of AR:
+25,000
Paid 10,000 owed
-10,000
Cash Balance at the end of February:
70,000 + 25,000 - 10,000 = 85,000 
7 0
3 years ago
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