Balance sheet and income statement data indicate the following: Bonds payable, 10% (due in two years) Preferred 5% stock, $100 par (no change during year) Common stock, $50 par (no change during year) Income before income tax for year Income tax for year Common dividends paid Preferred dividends paid Interest expense Based on the data presented, what is the times interest earned ratio? Round your answer to two decimal places. 2.46 3.07 0.41 5.07 $868,000 263,400 2,167,800 353,540 81,447 108,390 13,170 86,800

Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Trueman Corporation issued $400,000 of 20-year, 11% bonds for $369,908, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31. (a) Confirm the bond issue price. Round your answers to the nearest whole number. Present value of principal repayment $ Present value of interest payments $ Selling price of bonds (b) Indicate the financial statement effects using the template for (1) bond issuance, (2) semiannual interest payment and discount amortization on June 30, and (3) semiannual interest payment and discount amortization on December 31 of the current year. $369,908 Round answers to nearest whole number. Use negative signs with answers, when appropriate. Balance Sheet Transaction Cash Asset + (1) (2) (3) Noncash Assets = Liabilities + Contributed Capital + Earned Capital Revenue Income Statement - Expenses = Net Income

Subject : Accounting On January 1, Boston Company completed the following transactions (use a 7% annual interest rate for all transactions): (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Borrowed $117,200 for nine years. Will pay $7,100 interest at the end of each year and repay the $117,200 at the end of the 9th year. Established a plant remodeling fund of $491,650 to be available at the end of Year 10. A single sum that will grow to $491,650 will be deposited on January 1 of this year. Agreed to pay a severance package to a discharged employee. The company will pay $76,100 at the end of the first year, $113,600 at the end of the second year, and $151,100 at the end of the third year. Purchased a $175,500 machine on January 1 of this year for $35,100 cash. A five-year note is signed for the balance. The note will be paid in five equal year-end payments starting on December 31 of this year. Required: 1. In transaction (a),…

The Cidros reported the following information on long-term debt:   Current year Previous year Total long-term debts $14,578 millions $18,564 millions Minus the current portion (1,290) millions (1,540) millions Long-term debts 13,288 millions 17,024 millions Determine how much total current liabilities changed between the previous year and the current year as a result of the long-term debt portion. Explain your answer.Indicates the balance of the debt the following year if The Cidros does not acquire another long-term debt in the next few years.