Answered: how much were the expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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An insurance company collected $3.6 million in premiums and disbursed $1.96 million in losses. Loss adjustment expenses amounted to 6.6 percent and dividends paid to policyholders totaled 1.2 percent. The total income generated from their investments was $170,000 after all expenses were paid. What is the net profitability in dollars? (Enter your answer in dollars not in millions.) Net profitability
You are given the following information for Oceans of Fun.: sales = $74, 020; costs = $34, 980; addition to retained earnings 59,540; dividends paid $7,800; interest expense $2, 580; tax rate = 21 percent. Calculate the depreciation expense. (Do not round intermediate calculations.)
Use the following information from separate companies a through d Net Income (Loss) Income Taxes $ 44,500 $ 178,000 172, 600 62, 136 151,300 52,955 63,546 181, 100 7,244 86,928 Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? a. b. C. d. Answer is not complete. Complete this question by entering your answers in the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Company Interest Expense $ 85,440 43, 150 a b d Times Interest Earned Ratio Choose Numerator: Income before interest and taxes $ $ $ $ Choose Denominator: Interest expense / 178,000 X/ $ $ 172,600 X/ 151,300 X/ $ 181,100 1 $ Times Interest Earned Ratio 85,440 43,150 52,955 7,244 = Ratio 2.08 4.00 2.86 25.00 times times times times Interest Coverage >
26.Land costing $96,832 was sold for $69,017 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?

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