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kvasek [131]
2 years ago
8

For the most recent year, Camargo, Inc., had sales of $546,000, cost of goods sold of $244,410, depreciation expense of $61,900,

and additions to retained earnings of $74,300. The firm currently has 21,500 shares of common stock outstanding and the previous year’s dividends per share were $1.25.
Assuming a 23 % income tax rate, what was the times interest earned ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
weqwewe [10]2 years ago
3 0

Answer:

Explanation:

As we know that time interest earned ratio = Income before interest and taxes / interest expense.

Sales                                                                                           = 546000

less: cost of goods sold                                                            =  (<u>244410</u>)

            Gross profit                                                                       301590

Less: <u>expenses</u>

          Depreciation expense                                                      =( <u>61900   </u>)    

         Profit before interest and taxes                                         239690

Less: tax

      (239690 * 23%)                                                                =   (<u>55128</u>)            

                         Profit                                                                   184562

Profit - Retained earning Addition  = Interest

      184562 - 74300 = 110262.

Interest earned ratio = 239690 / 110262 = 2.17 times  

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A broker enters into an Exclusive Right-to-Buy contract with a purchaser. The purchaser finds a satisfactory property and makes
Artyom0805 [142]

Answer:

The buyer doesn't have any obligation to give a bonus to the seller's agent, nor the seller's agent have any right to request some type of payment from the buyer regardless of what tasks he/she performed. But if the buyer decides to give a bonus to the agent because he/she wants to (for whatever possible reason), both parties must fully disclose in writing the circumstances regarding the payment.

4 0
1 year ago
On October 3, Nick Carter, a carpenter, received a cash payment for services previously billed to a client. Nick paid his teleph
LekaFEV [45]

Answer:

D) credit to Accounts Payable.

Explanation:

The journal entries are shown below:

1. Cash A.c Dr

         To Account receivable A/c

(Being cash is received for performing the services)

2. Telephone expenses A/c

         To Cash A/c

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3. Equipment A/c Dr

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According to these journal entries, the option D is correct

4 0
1 year ago
You are a manager in a supermarket. One evening, you hear raised voices and see Chuck shouting at a customer, "I’m not going to
shusha [124]

Answer:

punishment

Explanation:

Basically, the manager is trying to change the behavior of his employee, Chuck. In management and organizational psychology, that is often referred to as the <em>reinforcement theory of motivation</em>.

In this example, the manager uses remuneration punishment in order to alter Chuck's noted behavior pattern.

<u>NOTE </u>- This is not to be confused with <em>negative reinforcement</em>, which is also related to the reinforcement theory. Although the term <em>negative </em>may imply some similarities with punishment, negative reinforcement is a different concept. While punishment is directly weakening the <em>unwanted </em>behavior, negative reinforcement is strengthening a <em>desired </em>behavior, by means of removing an unwanted consequence <u>for the employee</u> when he follows the wanted behavior pattern.

For example, a form of negative reinforcement would be if Chuck knew upfront that his pay would be reduced if he yelled at his customers and he avoided yelling in the first place because of that.

3 0
1 year ago
A bond has a face value of $1,000, a coupon of 4% paid annually, a maturity of 30 years, and a yield to maturity of 7%. What rat
Lelechka [254]

Answer:

-11.8%

Explanation:

the key to answer this question is to remember that valuation of a bond depends basically of calculating the present value of a series of cash flows, so let´s think about a bond as if you were a lender so you will get interest by the money you lend (coupon) and at the end of n years you will get back the money you lend at the beginnin (principal), so applying math we have the bond value given by:

price=\frac{principal*coupon}{(1+i)^{1} }+ \frac{principal*coupon}{(1+i)^{2} } \frac{principal*coupon}{(1+i)^{3} }+...+\frac{principal+principal*coupon}{(1+i)^{n} }

so in this particular case that one year later there are 29 years to maturity so we have:

price=\frac{1,000*0.04}{(1+0.08)^{1} }+ \frac{1,000*0.04}{(1+0.08)^{2} } \frac{1000*0.04}{(1+0.08)^{3} }+...+\frac{1,000+1,000*0.04}{(1+0.08)^{30} }

price=553.6638

so as we have a higher rate the investment has the next return:

return=\frac{553.66}{627.73} -1

return=-11.8\%

4 0
1 year ago
Which of the following factors can impact your monthly auto insurance premium?
erastova [34]

Answer:

The correct answer is: Your age, driving record, and annual mileage.

Explanation:

Auto insurances take into account several risk factors at the moment of evaluating what type of coverage insureds should purchase. Individuals' <em>age (higher premium if older), driving record (higher premium if negative),  and average annual mileage (higher premium the more mileage</em>) are key factors insurance companies tend to consider to find out what is the most convenient policy for those people and based on that, the premium that will be charged every month.

6 0
1 year ago
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