Times Interest Earned Ratio: It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation Accrued Expenses: Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period 1. To compute:- The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

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Sales and Production Budgets Vibrant Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Estimated inventory Rumble Thunder 247 66 (units), June 1 Desired inventory 284 57 (units), June 30 Expected sales volume (units): North Region 2,250 2,500 South Region 5,850 5,100 Unit sales price $125 $195 a. Prepare a sales budget. Vibrant Inc. Sales Budget For the Month Ending June 30 Unit Unit Volume Sales Selling Price Total Sales Product and Area Model Rumble: North Region South Region Total Model Thunder: North Region South Region Total Total revenue from sales QO QO 0000000 b. Prepare a production budget. Vibrant Inc. Production Budget For the Month Ending June 30 Units Units Model Model Rumble Thunder Expected units to be sold Total units required Total units to be produced

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Answer 2

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

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Answer 3

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Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

Expert Solution & Answer

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Answer 4

Question

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

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Answer 5

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

Answer 6

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

Answer 7

Chapter 9, Problem 1AA

To determine

Times Interest Earned Ratio:

It a ratio that helps in measuring the company’s ability to pay off its interest through the income generated by a company before interest and tax. It tells that how much amount a company has to use to pay off its interest obligation

Accrued Expenses:

Accrued expenses are those expenses which have been incurred by the company in an accounting period but for that payment has to be made in the next accounting period

1.

To compute:-The times interest earned ratio for the fiscal year ended 2015, 2014 and 2013.

Answer 8

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

Answer 9

2.

To determine

To identify:-A’s total accrued expenses.

A’s total accrued expenses for the fiscal year ended 2015 is $25,181. (Refer appendix-A’s consolidated balance sheet)

3

To compute:-A’s times interest earned ratio for the year ending after September26,2015 and comparer the result of times interest earned ratio of company A for the year ended 2013,2014,2015,2016 and 2017.

Answer 10

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Answer 13

Ch. 9 - Prob. 1MCQ Ch. 9 - Prob. 2MCQ Ch. 9 - Prob. 3MCQ Ch. 9 - Prob. 4MCQ Ch. 9 - Prob. 5MCQ Ch. 9 - Prob. 1DQ Ch. 9 - Prob. 2DQ Ch. 9 - Prob. 3DQ Ch. 9 - Prob. 4DQ Ch. 9 - Prob. 5DQ

Solution Summary: The author explains the times interest earned ratio, which helps in measuring the company's ability to pay off its interest.

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