Please need answer the financial accounting question get correct answer A company reports the following:DollarIncome before income tax 8,000,000Interest expense500,000Determine the number of times interest charges areearned.

Step 1: Define InterestInterest is the amount that is charged on the amount borrowed by a business.…

Answered: A company reports the following: Dollar…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 8CDQ

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Similar questions

How do I calculae the times interest earned ratio?
Please answer this question.
Times interest earned A company reports the following: Income before income tax $1,108,800 Interest expense 112,000 Determine the times interest earned ratio. If required, round the answer to one decimal place.
Times interest earned A company reports the following: Income before income tax expense $1,271,600 Interest expense 187,000 Determine the times interest earned ratio. If required, round the answer to one decimal place.
A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year.
Times interest earned A company reports the following: Income before income tax expense $4,300,000 Interest expense 600,000 Determine the times interest earned ratio. Round your answer to one decimal place.fill in the blank 1
A company reports the following: Sales Average accounts receivable (net) $511,000 73,000 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Iacouva Company reported the following on the company’s income statement for two recent years: Please see the attachment for details: a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place.b. What conclusions can you draw?
A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.
. Great Products, Inc. reported the following on the company’s income statement in two recent years:Current Year Prior YearInterest Expense $270,000 $250,000Income before income tax expense 4,212,000 3,450,000a. Determine the times interest earned ratio for the current year and the prior year. Round to one decimal place. b. Is the times interest earned ratio improving or declining?
A company reports the following: Sales $1,359,990 Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover.fill in the blank 1 b. Determine the number of days' sales in receivables.fill in the blank 2
K McDaniel and Associates, Inc. reported the following amounts on its 2024 income statement: Year Ended December 31, 2024 Net income Income tax expense Interest expense $ 22,950 6,600 3,000 What was McDaniel's times-interest-earned ratio for 2024? OA. 7.65 OB. 10.85 OC. 9.85 OD. 8.65 point(s) possible ...

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A company reports the following: Dollar Income before income tax 8,000,000 Interest expense 500,000 Determine the number of times interest charges are earned.