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q44. Help pls The balance sheet and income statement data for ABC Factory indicate the following: Bonds payable, 10% (issued 1998 due 2022) P1,000,000 Preferred
q44. Help pls
The balance sheet and income statement data for ABC Factory indicate the following: Bonds payable, 10% (issued 1998 due 2022) P1,000,000 Preferred 5% stock, P100 par (no change during year) 300,000 Common stock, P50 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 e.g. 3.5)Step by Step Solution
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