Question
Exercise 9-10 Number of times interest earned LO 9-3 The following data come from the financial records of Adams Corporation for 2014. Sales $ 845,000
Exercise 9-10 Number of times interest earned LO 9-3 The following data come from the financial records of Adams Corporation for 2014.
Sales $ 845,000
Interest expense 4,300
Income tax expense 27,000
Net income 30,000
Required How many times was interest earned in 2014? (Round your answer to 2 decimal places.)
1. Interest earned_____________________________times.
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
