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The following data come from the financial records of Adams Corporation for 2014. Sales .............. $720,000 Interest expense ......... 6,000 Income tax expense ......... 12,000 Net income ............ 42,000 Required How many times was interest earned in 2014?

The following data come from the financial records of Adams Corporation for 2014.
Sales .............. $720,000
Interest expense ......... 6,000
Income tax expense ......... 12,000
Net income ............ 42,000

Required
How many times was interest earned in 2014?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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Fundamental Managerial Accounting Concepts

Fundamental Managerial Accounting Concepts

ISBN: 978-0078025655

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Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old

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Posted Date: February 07, 2014 11:08:31
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