Interest earned ratio for the year
In a recent year Joey Corporation had net income of $140,000, interest expense of $40,000, and tax expense of $20,000. What was Joey Corporation's times interest earned ratio for the year?
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Determine rate of return that must be earned on net proceeds so as not to dilute earnings in inital year. Original 2,500,000 shares with after tax earnings of $7,500,000. New issue is 600,000 sh at 20.00 with 5% spread, and $200,000 out of pocket
When bonds are issued at a premium, the bond premium:
Blue Company acquires Maize Company by acquiring its net assets. On the date of the combination, the book value of Maize's identifiable net assets is $200,000. The fair value of its identifiable net assets is $300,000. Blue pays a total of $350,00
What amount will be recorded as goodwill by Burrough Corporation while recording its investment in Helyar?
On May 1, Jeff Wilkins started Skyline Flying School, a company that provides flying lessons by investing $45,000 cash in the business. Following are the assets and liabilities of the company on May 31, 2012 and the revenues and expenses for the m
Arnold Corporation has been authorized to issue 40,000 shares of $100 par value, 8%, noncumulative preferred stock and 2,000,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2011, t
Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.
Shorebuck's Coffee can sell all the units it can produce of either latte or cappuccino but not both. Latte has a unit contribution margin of $45 and takes three machine hours to make and cappuccino has a unit contribution margin of $32 and takes t
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