Arnold Electronics reported the following amounts on its 2016 income statement: Year Ended December 31, 2016 Net
Question:
Year Ended December 31, 2016
Net income.......$ 49,000
Income tax expense.... 7,350
Interest expense.... 5,000
What is Arnolds times-interest-earned ratio for 2016?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (18 reviews)
Timesinterestearned ratio Net ...View the full answer
Answered By
Vineet Kumar Yadav
I am a biotech engineer and cleared jee exam 2 times and also i am a math tutor. topper comunity , chegg India, vedantu doubt expert( solving doubt for iit jee student on the online doubt solving app in live chat with student)
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Accounting questions
-
Verifine Corporation reported the following amounts on its 2016 comparative income statements: Perform a horizontal analysis of revenues and net income-both in dollar amounts and in percentages-for...
-
Tri-State Optical Company reported the following amounts on its balance sheet at December 31, 2012 and 2011: Requirement 1. Prepare a vertical analysis of Tri-State assets for 2012 and2011. 2012 2011...
-
Fitzgerald Corporation reported the following amounts on its 2010 comparative income statement: Perform a horizontal analysis of revenues and net income both in dollar amounts and in percentages for...
-
John and Adam exchange offices in a transaction that qualifies as a like-kind exchange. As part of the transaction, Adam gives John a truck. In addition, Adam agrees to assume a $20,000 liability...
-
When can an agent be personally liable on a contract entered into on behalf of a principal?
-
Figure P8.31 shows a proposed foundation site, with 10 ft of sand overlying 15 ft of clay with consolidation properties shown. The clay is normally consolidated. Assume 1-D conditions. (a) Compute...
-
1. What do you think caused the large increase in the price of coffee in 1997? 2. Use supply and demand diagrams to explain (a) the fall in coffee prices in the late 1990s and early 2000s, and in the...
-
Syntex, Inc. is considering an investment in one of two common stocks. Given the information that follows, which investment is better, based on risk (as measured by the standard deviation) andreturn?...
-
1) Calculate the pore pressure, the total stress, and the effective stress at the middle of the clay layer. (a) before the embankment construction; (b) after the embankment construction, considering...
-
Federal government budgeting is the forecast or estimate of revenue and expenditures for each fiscal year. The federal budget, like a household budget, itemizes government spending for the following...
-
Fernandez Motors, a motorcycle manufacturer, had the following contingencies. a. Fernandez estimates that it is reasonably possible but not likely that it will lose a current lawsuit. Fernandezs...
-
Consider the following transactions of Moore Software: Mar. 31 Recorded cash sales of $170,000, plus sales tax of 5% collected for the state of new Jersey. Apr. 6 Sent March sales tax to the state....
-
A company is experiencing lower than expected sales. The company's executives agreed that in order to make up some of the lost revenue's impact on the bottom line, expenses must be lower. One of the...
-
An efficient supply chain is a prize worth striving for. According to Accenture, the consultancy firm, supply chain leadership can increase a companys market capitalisation by between 7 and 26 per...
-
What are the basic differences between the AFL as a labor union and the CIO type of union?
-
Estimate the cycle time and production of a 30-cubic-yard wheel tractor scraper carrying rated capacity, operating on a 4,500-foot level haul. The road flexes under load, has little maintenance, and...
-
What is a limited liability corporation? Discuss its advantages and disadvantages. You can search the Internet for the brief IRS Publication 3402, Taxation of Limited Liability Companies, which...
-
Using a table similar to that shown in Figure 3.11, calculate A divided by B using the hardware described in Figure 3.9. You should show the contents of each register on each step. Assume A and B are...
-
A driver starts the engine of an automobile that is stopped with its front wheels resting against a curb and tries to drive over the curb. Knowing that the radius of the wheels is 12 in., that the...
-
The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books: Accounts...
-
Knight Corp., a lamp manufacturer, provided the following information for the year ended December 31, 2014. Requirements 1. Use the information to prepare a schedule of cost of goods manufactured. 2....
-
Use the following information for a manufacturer to compute cost of goods manufactured and cost of goodssold: Beginning Ending Inventories: Raw Materials Work-in-Process Finished Goods Other...
-
Fido Grooming provides grooming services for pets. In April, the company earned $ 16,300 in revenues and incurred the following operating costs to groom 650 dogs: Wages...
-
1. Round-robin (RR) scheduling was referred as fair queuing (FQ) by John Nagle in 1985 when proposing RR in the gateway between a local area network and the internet to reduce network disruption from...
-
b) Show that (A^ (BVC)) (A (BVC)) in the following three ways: (15 Points) i) truth table ii) logical equivalence iii) Boolean algebra
-
5. Write the truth table for the CMOS Circuit given below and mention what logic gate does it represent. (10 points) VDD C BA A B C GND -Y
Study smarter with the SolutionInn App