Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 4.00

Bonds payable

   
   

Balance sheet and income statement data indicate the following:

Bonds payable, 10% (issued 1988 due 2012) $1,000,000
Preferred 5% stock, $100 par (no change during year) 300,000
Common stock, $50 par (no change during year) 2,000,000
Income before income tax for year 350,000
Income tax for year 80,000
Common dividends paid 50,000
Preferred dividends paid 15,000
   


Based on the data presented above, what is the number of times bond interest charges were earned (round to one decimal point)?

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 02:08 PM My Price 4.00

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