The following information relates to the Davensmith Company: Interest payable, beginning of period $ 60 Bond discount amortization, end of period 40 Interest payable, end of period 10 Total interest expense reported on the income statement 850 Bond discount amortization, beginning of period 70 What was the amount of interest paid? $820 $870 $830 $850
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Question Content Area
The following information relates to the Davensmith Company:
Interest payable, beginning of period $ 60 Bond discount amortization, end of period 40 Interest payable, end of period 10 Total interest expense reported on the income statement 850 Bond discount amortization, beginning of period 70
What was the amount of interest paid?$820$870$830$850
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- Required information ©lmage Source, all rights reserved. Knowledge Check 01 The times interest earned ratio is computed as: O interest expense times income before interest expense and income taxes. income before interest expense and income taxes divided by interest expense. income before interest expense divided by interest expense. O income before income taxes divided by income taxes. > F5 F4 F8 94 F7 F10 6- LL %23 2$ % 5. 9. 6. RQuestion 1The following information was extracted from the financial statement of Barryfor the year ended 31 December 2020. RMSales 437,500Opening inventories 17,500Closing inventories 26,250Cost of sales 262,500Other income 3,750Expenses 61,250Current liabilities 47,250Trade receivables 39,375Bank 8,750Cash 31,500Required:(a) Show the formulae and compute the value of the following for Barry:(i) Purchases(ii) Gross profit(iii)Net ProfitUse the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Balance Sheets for 2020 & 2021.
- Net Income Interest (Loss) $ 185, 000 179, 600 157, 250 188, 100 Expense $ 59,200 80, 820 Income Taxes a. $ 46, 250 b. 64, 656 66,045 90, 288 C. 44, 030 11, 286 d. Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? Complete this question by entering your answers In the tabs below. Times Interest Interest Earned Ratio Coverage Compute times interest earned. Times Interest Earned Ratio Company Choose Numerator: Choose Denominator: Ratio %3D %3D times times times !! times !! Interest Coverage >Use the below information to answer the following questions: 20202021Sales$11,573$12,936Depreciation 1661 1736Cost of goods sold 3979 4707Other Expenses 846 924Interest Expense 776 926Cash 6067 6466Accounts Receivables 8034 9427Short-term Notes Payable 1171 1147Long-term debt 20,320 24,696Net fixed assets 50,888 54,273Accounts Payable 4384 4644Tax rate 26% 34%Inventory 14,283 15,288Payout ratio 33% 30% A. Create the Income Statements for 2020 and 2021 (including dividends paid and retained earnings).Use the amortization table to determine how much of the 8th payment is interest E Click the icon to view the amortization table. Amortization Table - X The interest amount af the Bth pnyment is S (Type an integer or a decimal.) Amortization Table Рауment Number Amount of Payment Interest Portion to Principal Principal at End of Period for Perlod $1000.00 $918.93 $86.07 $5.00 $81.07 $86.07 $4.59 $81.48 $837.46 $755.57 $86.07 S4.19 $81.88 $86.07 $3.78 $82.29 5673.28 $86.07 $3.37 $82.70 $590 58 S86.07 $86.07 $2.96 $83.12 $507 46 $423.93 $2.54 $83.53 $83.95 $86.07 $2.12 $339.08 $86.07 $1.70 $1.28 S84.37 $84.79 $255.61 10 $86.07 $170 82 $85.60 11 $86.07 S0.85 $85.22 12 S86.03 $0.43 S05.00 $0.00 Print Done
- Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $31,654 Accounts receivable 69,987 Accrued liabilities 6,524 Cash 16,364 Intangible assets 38,210 Inventory 80,832 Long-term investments 90,451 Long-term liabilities 73,398 Notes payable (short-term) 26,425 Property, plant, and equipment 659,739 Prepaid expenses 1,697 Temporary investments 38,252 Based on the data for Harding Company, what is the amount of quick assets?Question Content Area A company reported the following information: Interest receivable, December 31, 2023: $8,000 Interest receivable, December 31, 2022: $11,500 Interest revenue for 2023: $16,000 Interest receivable, December 31, 2023 $8,000 Interest receivable, December 31, 2022 11,500 Interest revenue for 2023 16,000 How much cash was received for interest during 2023?Life-Positive’s Account Balances 2021 ($) 2022 ($) accounts payable 24,600.00 21,250.00Accounts receivable 15,700.00 12,340.00Cash 23,450.00 28,600.00Cost of goods sold 19,700.00 23,000.00Depreciation 3,090.00 4,590.00Dividends 5,800.00 10,800.00Interest 2,340.00 2,890.00Inventory 7,050.00 8,640.00Long-term debt 28,000.00 30,000.00Net fixed assets 41,500.00 48,000.00Other expenses 2,400.00 2,800.00Sales 58,000.00 62,500.00Short-term Notes Payable 2,890.00 2,340.00Shares outstanding 85,000.00 90,000.00 tax rate is 32% 4. Calculate the cash flow from assets, cash flow to creditors,and cash flow to stockholders…
- Saved e Quiz: Accounting for Current Liabi... A Required information Knowledge Check 01 The records of Pippins, Incorporated, included the following information: Net sales 475,000 Gross margin Interest expense Income tax expense Net income 000'0 000'0 Compute the times interest earned ratio, rounded to the nearest decimal. O 4.8 O 6.4 O7.4 O 20.0 *********** II F3 F5 F6 F8 F4 #3Question Content Area Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $33,234 Accounts receivable 67,995 Accrued liabilities 6,510 Cash 22,738 Intangible assets 35,347 Inventory 83,390 Long-term investments 101,069 Long-term liabilities 79,156 Notes payable (short-term) 27,161 Property, plant, and equipment 689,074 Prepaid expenses 2,037 Temporary investments 30,842 Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? a.3.1 b.0.8 c.1.8 d.15.4Net Income Interest (Loss) $ 185, 000 179, 600 157, 250 188, 100 Expense $ 59, 200 Income Taxes $ 46, 250 64,656 66, 045 90, 288 a. b. 80, 820 44,030 11, 286 c. d. Compute times interest earned. Which company indicates the strongest ability to pay interest expense as it comes due? Complete this question by entering your answers In the tabs below. Times Interest Interest Earned Ratio Coverage Which company indicates the strongest ability to pay interest expense as it comes due? Which company indicates the strongest ability to pay interest expense as it comes due? < Times Interest Earned Ratio