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: 401 Weeks Ago, 5 Days Ago
Questions Answered: 66690
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 6.00

Sherwill's statement

Sherwill's statement of consolidated income is as follows:

Net sales

$658

Other income

8
 

666

Costs and expenses:

  

Cost of products sold

418

Selling and administrative expenses

196

Interest

16
 

630

Income before income taxes and extraordinary charges

36

Income taxes

18

Income before extraordinary charge

18

Extraordinary charge-- losses on tornado damage (net)

4

Net income

$14
   
   

Note: depreciation expense totals $200; operating lease payments total $150; and preferred dividends total $50. Assume one-third of operating lease payments is for interest.

Compute the times interest earned. Round to two decimal places

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Question text

Sherwill's statement of consolidated income is as follows:

Net sales

$658

Other income

8
 

666

Costs and expenses:

  

Cost of products sold

418

Selling and administrative expenses

196

Interest

16
 

630

Income before income taxes and extraordinary charges

36

Income taxes

18

Income before extraordinary charge

18

Extraordinary charge-- losses on tornado damage (net)

4

Net income

$14
   
   

Note: depreciation expense totals $200; operating lease payments total $150; and preferred dividends total $50. Assume one-third of operating lease payments is for interest.

Compute the fixed charge coverage. Round to two decimal places

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 03:08 PM My Price 6.00

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