The following data were abstracted from the records of Johnson Corporation for the year: Sales P1,800,000 Bond interest expense 60,000 Income taxes 300,000 Net income 400,000 How many times was bond interest earned? Group of answer choices 11.67 13.67 7.67 12.67

The following data were abstracted from the records of Johnson Corporation for the year: Sales P1,800,000 Bond interest expense 60,000 Income taxes 300,000 Net income 400,000 How many times was bond interest earned? Group of answer choices 11.67 13.67 7.67 12.67

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 1PEA

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Question

The following data were abstracted from the records of Johnson Corporation for the year:

Sales P1,800,000

Bond interest expense 60,000

Income taxes 300,000

Net income 400,000

How many times was bond interest earned?

Group of answer choices

11.67

13.67

7.67

12.67

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