What is the times interest earned ratio

Assignment Help Financial Accounting
Reference no: EM133059581

Question - Balance sheet and income statement data indicate the following: Bonds payable, 8% (due in 15 years) $1,348,708 Preferred 8% stock, $100 par (no change during the year) 200,000 Common stock, $50 par (no change during the year) 1,000.000 Income before income tax for year 348,699 Income tax for year 104,610 Common dividends paid 60,000 Preferred dividends paid 16,000 Based on the data presented, what is the times interest earned ratio (round to two decimal places)?

Reference no: EM133059581

Questions Cloud

What is meant by the complementarity principle : What is meant by the complementarity principle, where is it regulated in the Rome statute, and in what way does it serve the purpose of ICC
Record the issuance of the bonds and warrants : Blossom Corporation issued 1,900 $1,000 bonds at 103. Use the proportional method to record the issuance of the bonds and warrants
Journalize the entry for Smith contribution : Trevor Smith contributed equipment, inventory, and $48,000 cash to a partnership. Journalize the entry for Smith contribution
Compute the bond interest expense : On January 1 of the current year, Barton Corporation issued 8%, 5-year bonds with a face value of $84,000. Compute the bond interest expense
What is the times interest earned ratio : Balance sheet and income statement data indicate the following: Bonds payable, 8% (due in 15 years) $1,348,708, What is the times interest earned ratio
Determine the revenue per employee : During Year 2, the business expanded into three new regions of the country. For Year 1 and Year 2, determine the revenue per employee
Nutrition in your everyday life : Consider the ways you have heard the words nutrient and nutrition in your everyday life. Based on your exposure so far, what do you think these words mean? H
Implications of inadequate strategic is planning : Consider an organization that you believe does not conduct adequate strategic IS planning. What are the implications of this inadequate strategic IS planning?
Software to perform daily departmental functions : Identify a list of at least 3-5 potential vendors to provide HIM related software to perform daily departmental functions.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd