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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How do I calculae the times interest earned ratio?
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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.
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
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?
. 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?
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 ...
Berry Company reported the following on the company's income statement in two recent years: Current Year Prior Year Interest expense $499,000 $598,800 Income before income tax expense 7,435,100 $9,101,760 a. Determine the number of times interest charges were earned for current Year and prior Year. Round to one decimal place. Current Year Prior Year b. Is the number of times interest charges are earned improving or declining?
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What is its accounts receivable turnover for the period?
Times interest earned

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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.