Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Aug 2017 My Price 9.00

Ratio of liabilities

Ratio of liabilities to stockholders’ equity and number of times interest charges are earned

Current Year Previous Year Accounts payable $ 924,000 $ 800,000 Current maturities of serial bonds payable 200,000 200,000 Serial bonds payable, 10%, issued 2009, due 2019 1,000,000 1,200,000 Common stock, $10 par value 250,000 250,000 Paid-in capital in excess of par 1,250,000 1,250,000 Retained earnings 860,000 500,000 The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent  years:

 

 

 

 

 

 

 

 

 

 

 

The income before income tax was $480,000 and $420,000 for the current and previous years,  respectively.

a.     Determine the ratio of liabilities to stockholders’ equity at the end of each year. Round to one decimal place.

b.    Determine the number of times the bond interest charges are earned during the year for both years. Round to one decimal place.

c.     What conclusions can be drawn from these data as to the company’s ability to meet its currently maturing debts?

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 08:08 PM My Price 9.00

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