Homework Answers
Times Interest earned ratio = Earnings before Income taxes / Total Interest expense
Earnings before income taxes = Income before income taxes + Interest expense
Earnings before income taxes = $420,000 + $80,000
Earnings before income taxes = $500,000
Times Interest earned ratio = $500,000 / $80,000
Times Interest earned ratio = 6.25 times
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Hsu Company reported the following on its income statement: Income before income taxes Income tax expense...
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Hsu Company reported the following on its income statement: Income before income taxes $308,827 Income tax expense 92,648 Net income $216,179 Interest expense was $78,205. Hsu Company's times interest earned ratio (rounded to two decimal places) is a. 2.76 times Ob. 3.95 times c. 1.76 times d. 4.95 times
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Times interest earned Berry Company reported the following on the company's income statement in two recent...
Times interest earned
Berry Company reported the following on the company's income
statement in two recent years:
Current
Year
Prior
Year
Interest expense
$425,000
$467,500
Income before income tax expense
6,587,500
6,872,250
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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Please answer All questions 1.) A company reports the following: Income before income tax $3,617,600 Interest...
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Times interest earned
Berry Company reported the following on the company's income
statement in two recent years:
Current
Year
Prior
Year
Interest expense
$425,000
$467,500
Income before income tax expense
6,587,500
6,872,250
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?
Times interest earned Berry Company reported the following on the company's income statement in two recent years: Current Year Prior Year $405,600 Interest expense Income before income tax expense $338,000 4,360,200 5,353,920 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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