Balance sheet and income statement data indicate the following: Bonds payable, 12% (due in 15 years) $1,247,416 Income before income tax for year 401,495 Income tax for year 120,449 Interest payable 33,000 Interest receivable 19,000 Interest expense 149,690 Based on the data presented above, what is the times interest earned ratio? (Round to two decimal places.) a.0.88 b.3.68 c.1.88 d.2.68

Q: equired How much is the total current liabilities and non-current liabilities?

A: The current liabilities are due and payable within one year and non- current liabilities are due and…

Q: Current Attempt in Progress The adjusted trial balance for Ayayai Corp. at the end of the current…

A: Long term liability does not include  Mortgage payable which is due currently And notes payable in 3…

Q: Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00…

A: In the Given question we require to calculate the firm's total changes in cash from the prior year…

Q: The following bond investment transactions were completed during a recent year by Starks Company:…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Bonds Payable has a balance of $1,137,000 and Discount on Bonds Payable has a balance of $13,644. If…

A: Bonds: Bonds is a long-term liability of a company where it has to repay the principal amount  along…

Q: Principal $ 575 Time (years) 1 Rate of compound interest Compounded Periods 4 % Quarterly 4 Rate 1%…

A: Time value of money :— According to this concept, value of money in present day is greater than the…

Q: ABC Company issued $100,000 in bonds for $98,000. The bonds had a stated rate of 12% and pay…

A: The objective of the question is to determine the correct journal entry to record the first interest…

Q: Determine the annual before-tax interest cost for each company in dollars. b. Determine the annual…

A: Formula: Annual before-tax interest cost = Face value of bonds payable x Interest rate

Q: Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The following selected information are made available by AAA company for the current year: Accounts…

A: Proportionate Percentage of Financial statement The calculation of proportionate percentage of…

Q: Assuming a 360-day year, the interest charged by the bank, at the rate of 7%, on a 90-day,…

A: Notes payable is a financial instrument used to raise funds for financial obligations. Interest is…

Q: The following information is for AmBank. The ECR reflects the relationship of each account's rate to…

A: Earnings Credit Rate is referred to as ECR. It is the interest rate that banks use to account for…

Q: Current Portion of Long-Term Debt Connie's Bistro, Inc. reported the following information about its…

A: The long term liabilities are the liabilities to be paid after one year  The current liabilities are…

Q: Medhurst Corporation issued $87,594 in bonds for $98,782. The bonds had a stated rate of 2% and pay…

A: Interest payment = Face value of bonds*2%*3/12

Q: Analyzing and Computing Accrued Interest on Notes Compute any interest accrued for each of the…

A: Lender Issuance Date  Principal  Coupon rate (%) Term   Accrued Interest  Nissim 21-Nov  $…

Q: The debt is amortized by the periodic payment shown Compute (a) the number of payments required to…

A: A loan is an agreement where one party receives an amount in exchange for paying it back later in…

Q: Current portion of long-term debt Connie's Bistro, Inc. reported the following information about its…

A: Long term are those debt which are to be repaid within a period more than one year. They are…

Q: Th

A: a) To calculate the repricing gap, we need to determine how much of the liabilities and assets will…

Q: What is the firm's cash flow from financing?

A: Cash Flow from Financing Activities Cash Flow from Financing Activities is the net amount of funding…

Q: Question Related data of John-j Company:                                    Face amount P2,550,000…

A: Bond: It is long-term source of finance issued by the firm to raise money. It has a fixed maturity…

Q: he following information is available for three companies. Rope Company Chain Company Line Company…

A: Interest is a cost to the borrower. The lender charges interest from the borrower. The company pays…

Q: Medhurst Corporation issued $89,487 in bonds for $91,321. The bonds had a stated rate of 7% and pay…

A: BOND  Bond is a Financial Securities which is Generally Issued by the Corporation's, Government…

Q: For numbers 17-18: Karina Company provided the following data for the current year: Cost Retail…

A: FIFO is a technique of inventory valuation under this inventory is recorded on the basis of first in…

Q: If bond interest expense is $800,000, bond interest payable increased by $8,000 and bond discount…

A: Solution: Cash paid for bond interest = Bond interest expense - Increase in bond payable - Decrease…

Q: If $434,000 of 10% bonds are issued at 94, the amount of cash received from the sale is a.$407,960…

A: Formulas: Cash received = Face value * Discount rate

Q: On the first day of the current fiscal year, $2,000,000 of 7%, 10-year bonds, with interest payable…

A: Bonds are issued by the company to meet the financial requirements of the company without losing its…

Q: Bonds Payable has a balance of $962,000 and Premium on Bonds Payable has a balance of $10,582. If…

A: A bond is basically an interest-bearing loan instrument that is issued by the companies in order to…

Q: Medhurst Corporation issued $86,722 in bonds for $94,389. The bonds had a stated rate of 8% and pay…

A: The quarterly payment on the bond is calculated on the face value of the bonds at the stated rate…

Q: Krystian Inc. issued 12-year bonds with a face value of $150,000 and a stated rate of 4% when the…

A: Formula: Total cash flows = Principal + Interest

Q: Enter the 3 missing pieces of information. Note: Please make sure your final answer(s) are in…

A: Nominal Interest Rate = ((1 + Periodic Interest Rate)^(1 / Compound) - 1) * CompoundPeriodic…

Q: On January 1, Year 1, Bluestone Company issued bonds with a face value of $500,000 at 90. How will…

A: Bonds are usually issued by the company as to raise short term finance. These are basically issued…

Q: 15. ABC Company Issues $100,000 of 30 year 5% bonds at 102. What entry is used to record this…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Bonds Pavable has a balance of $1.184.000 and Discount on Bonds Payable has a balance of $11.840. If…

A: Let’s assume the par value is $100 Total number of bonds issued would be : $11,84,000 / $100 i.e…

Q: PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent…

A: The reporting of the current portion of the long term debt will be done as the current liability on…

Q: True (t) or False (f) _____ If $240,000, 8%, bonds are issued on January 1, and pay interest…

A: Here, we are required to select whether given statement is true or false. It is mentioned in the…

Q: determining the amount of the remittance.

A: Remittance of Amount :- Amount which is Remittance after deducting Commission & any other…

Q: Subject : Accounting On January 1, Boston Company completed the following transactions (use a 7%…

A: PV is the way of calculating the present value of cash flows arising in the future present value of…

Q: The Cidros reported the following information on long-term debt:   Current year Previous year…

A: Change in current liabilities: Change in the current liabilities = Prior year current liabilities…

Q: Item Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00…

A: Statement of cash flows: The statement of cash flows records all the sources and use of the cash in…

Q: Current portion of long-term debt Connie's Bistro, Inc. reported the following information about its…

A: Long Term Debt - Long Term debt is the amount borrowed by the company for a more than one year. It…

Q: ! Required information [The following information applies to the questions displayed below.] Dunphy…

A: Bonds payable is one of form of liability being incurred in business. On bonds, regular interest…

Q: How much interest receivable is reported on the December 31, 20x2 statement of financial position

A: Given face value as on Jan 1, 20x1 = P1200000 Interest rate = 10% Given Interest are net due as on…

Q: Find the compound interest on a $4,000 investment at 0.75% compounded daily for 14 days. | Click the…

A: Compound interest is the interest which gets add to the principal . it is also known as interest on…

Q: You are told that a note has repayment terms of $1,150 per quarter for 4 years, with a stated…

A: Present value is the estimation of the current value of future cash value which is likely to be…