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Category > Accounting Posted 07 May 2017 My Price 5.00

Delectable Turnip Inc.'s net income for the most recent year

Delectable Turnip Inc.'s net income for the most recent year was $10,508. The tax rate was 34 percent. The firm paid $3,685 in total interest expense and deducted $4,382 in depreciation expense. What was the company's cash coverage ratio for the year?

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Alpha Geek
(8)
Status NEW Posted 07 May 2017 05:05 PM My Price 5.00

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file 1494179928-Answer.docx preview (67 words )
D-----------ele-----------cta-----------ble----------- Tu-----------rni-----------p I-----------nc.-----------'s -----------net----------- in-----------com-----------e f-----------or -----------the----------- mo-----------st -----------rec-----------ent----------- ye-----------ar -----------was----------- $1-----------0,5-----------08.----------- Th-----------e t-----------ax -----------rat-----------e w-----------as -----------34 -----------per-----------cen-----------t. -----------The----------- fi-----------rm -----------pai-----------d $-----------3,6-----------85 -----------in -----------tot-----------al -----------int-----------ere-----------st -----------exp-----------ens-----------e a-----------nd -----------ded-----------uct-----------ed -----------$4,-----------382----------- in----------- de-----------pre-----------cia-----------tio-----------n e-----------xpe-----------nse-----------. W-----------hat----------- wa-----------s t-----------he -----------com-----------pan-----------y's----------- ca-----------sh -----------cov-----------era-----------ge -----------rat-----------io -----------for----------- th-----------e y-----------ear-----------? -----------Ans-----------wer----------- C-----------ash----------- co-----------ver-----------age----------- ra-----------tio----------- = -----------(Ea-----------rni-----------ngs----------- be-----------for-----------e i-----------nte-----------res-----------t a-----------nd -----------tax----------- ad-----------d N-----------on -----------Cas-----------h e-----------xpe-----------nse-----------)/I-----------nte-----------res-----------t E-----------xpe-----------nse----------- Ca-----------sh -----------cov-----------era-----------ge -----------rat-----------io -----------= (-----------$ 1-----------9,6-----------06 -----------add----------- $ -----------4,3-----------82)-----------/$ -----------3,6-----------85 -----------= 6----------- -----------
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