Answer:
the times was interest earned in Year 3 is 11.2 times
Explanation:
The computation of the times interest earned ratio is given below:
The times interest earned ratio is
= (Net income+ Income tax expense+ Interest expense) ÷ Interest expense
= ($25,500 + $25,500 + $5,000) ÷ $5,000
= 11.2 times
Hence, the times was interest earned in Year 3 is 11.2 times
The same is to be relevant
Answer: The March 31 adjusting journal entry shoud include $1200
Explanation: Given that the
Supplies on hand = $500
Candy purchased supplies of $1200 and used supplies of $500
The unused supplies will be:
1200 - 500 = 700 dollars
The March 31 adjusting journal entry shoud include the addition of the supplies on hand and the unused supplies. That is,
500 + 700 = 1200 dollars
Answer:
$25,778
Explanation:
During the first year, $4,800 were deposited. Using the future value of an investment formula, after one year, this amount becomes:
X = 4,800 (1+0.09)
= 5,232
Now, they add $6,600 to that amount. Now we have a total of:
6,600 + 5,232 = 11,832
During year two, the amount above becomes:
X = 11,832 (1+0.09)
= 12,897
And at the end of year two, $8,800 are added. Now we have a total of:
12,897 + 8,800 = 21,697
During years three and four, that amount finally becomes:
X = 21,697 (1+0.09)^2
= 25.778
Thus, after four years, the Jenkisn Family Fun Center will have $25,778 to buy the equipment.
Answer:
If inflation is expected to be 7% this next year, your friend will be earning a -2% interest.
Step-by-step explanation:
Real interest rate is the interest rate that takes inflation into account. To calculate for the real interest rate, we have:
<em>Real interest rate = nominal interest rate - inflation rate</em>
<em>Real interest rate = 5% - 7%</em>
<em>Real interest rate = -2%</em>
In this case, the borrower will get paid and your friend will be the one penalized.
Negative interest rates occur infrequently and usually only when a country's central bankers are forced to utilize the monetary policy tool -- where the interest rates are set below zero -- during harsh economic times.
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