Hsu Company reported the following on its income statement: Income before income taxes $420,000 Income tax expense 120,000 Net income $300,000 An analysis of the income statement revealed that interest expense was $80,000. Hsu Company's times interest earned was
A) 8 times.
B) 6.25 times.
C) 5.25 times.
D) 5 times.
B
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The records of Andrews Company reflect the following data: Work in process, beginning of the month - 4,500 units; 1 / 3 completed at a cost of $2,400 for materials, $825 for labor, and $5,00 . for overhead. Production costs for the month - materials - $20,695; labor - $13,050; overhead - $41,500 Units completed and transferred to finished goods - 35,000 Work in process, end of month - 3,00
units; 3 / 4 completed What is the unit cost for material? a. $.66 b. $.59 c. $.56 d. $.62
Which of the following would not be considered a capital expenditure?
a. The addition of a building wing b. A tune-up of a company vehicle c. A complete overhaul of an air-conditioning system d. The cost of installing a piece of equipment
After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns are $37,875 and $32,735, respectively. What is the amount of net income or net loss for the period?
A) $5,140 net income B) $37,875 net loss C) $5,140 net loss D) $32,735 net income
A retailer of sporting goods equipment is interested in learning what peoples' attitudes, motivations, and feelings are about its product lines. All of the following are potential sources for this information EXCEPT:
A. observation research B. mail questionnaire C. in-store interview D. telephone survey E. focus-group interviews