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
Answer:
c) $288,000
Explanation:
The computation of the cost of goods manufactured is shown below:
Cost of goods manufactured = Opening balance of Work in process + Manufacturing cost - Ending balance of Work in process
where,
Opening balance of Work in process equal to
= $42,000 × 100 ÷ 40
= $70,000
So, the cost of goods manufactured is
= $70,000 + $260,000 - $42,000
= $288,000
Answer:
Credit to Cash for $4,995 is correct
Explanation:
here is a complete question
has a gross salary for May of $7,000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 21%. Which of the following is a part of the journal entry to record the disbursement of his net pay? (Assume a FICA-OASDI Tax of 6.2 % and FICA-Medicare Tax of 1.45%. Round the final answer to the nearest dollar.) A. debit to Cash for $4,995 B. debit to FICA Tax Payable of $4,995 O C. debit to Employee Income Tax Payable of $4,995 D. credit to Cash for $4,995
The computation of the amount that becomes the part for accrual the employer payroll taxes is shown below:
Gross Pay $7,000
Less: Deductions
Federal Income tax $1,470 ($7000 × 21%)
FICA-OASDI tax $434 ($7000 × 6.2%)
FICA-Medicare tax $102 ($7,000 × 1.45%)
Total Deductions 2006
Net pay $4,995
Answer:
Dividend yield is 2.91 %.
Explanation:
Dividend yield = Annual Dividend per Share / Stock Price per Share × 100
<em>where,</em>
Annual Dividend per Share = Total Dividends ÷ Total Number of Shares
= $835 ÷ 500
= $1.67
<em>then,</em>
Dividend yield = $1.67 / $57.48 × 100
= 2.905 or 2.91 %
Answer:
B. Draft
Explanation:
Draft -
It refers to the piece of textual information, which may consist of drawing along with text, is referred to as a draft.
It is a type of rough framework of the main idea or project, which helps to frame the original project in a more efficient manner.
Hence, from the given scenario of the question,
The framework or the order written by the Mulch - Rite, is referred to as a draft.