Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am sorry for adding multiple questions but all of them are related and chained up. fABC Company's balance sheet is as follows: Assets Cash

image text in transcribed

I am sorry for adding multiple questions but all of them are related and chained up.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
\fABC Company's balance sheet is as follows: Assets Cash $6,000 Marketable securities 3,200 Accounts receivable 5,200 Inventory 14,400 Property and equipment 68,000 Accumulated depreciation (5%) Total assets $91,800 Liabilities 8: stockholders' equity Accounts payable $3,400 Notes payable (current) 1,400 Mortgage payable (long-term) 1,800 Bonds payable (long-term) 28,600 Common stock, $30 par 24,000 Paid-in capital in excess of par 11,600 Retained earnings ,M Total liabilities & stockholders' equity $91,800 The average number of common stock shares outstanding during the year was 840 shares. Net income for the year was $6,300. If you have insufficient data to use averages in ratio computations, use year-end balances in the calculations. ABC's debt to equity ratio is: \fThe following data were abstracted from the financial records of the Dixon Corporation for 2019: SalesW Interest expense 120,000 Income taxes 600,000 Net income 800,000 How many times was interest earned in 2019? Multiple Choice 0 15.33 times 14.40 times 0 O 12.67 times 0 15.45 times

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cambridge IGCSE And O Level Accounting Coursebook

Authors: Catherine Coucom

2nd Edition

1316502775, 978-1316502778

More Books

Students also viewed these Accounting questions

Question

4. What is the goal of the others in the network?

Answered: 1 week ago

Question

2. What we can learn from the past

Answered: 1 week ago