Question
The times interest earned ratio of McHugh Company is 4.5. The interest expense for the year was P20,000, and the company's tax rate is 30%.
- The times interest earned ratio of McHugh Company is 4.5. The interest expense for the year was P20,000, and the company's tax rate is 30%. The company's net income is:
Group of answer choices
P49,000
P54,000
P22,000
P66,000
P42,000
Slosh Cleaning Corporation services both residential and commercial customers. Slosh expects the following operating results next year for each type of customer:
ResidentialCommercialSalesP60,000P140,000Contribution margin ratio50%30%
Slosh expects to have P50,000 in fixed expenses next year. What would Slosh's peso sales revenues from Commercial customers have to be next year in order to generate a profit of P166,000?
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
111950242X, 1-119-50242-5, 978-1119502425
