Calculate times interest earned ratio for latonya flop shops

Assignment Help Financial Accounting
Reference no: EM132952286

Sales are $1.52 million, cost of goods sold is $610,000, depreciation expense is $152,000, other operating expenses is $302,000, addition to retained earnings is $145,000, dividends per share is $1, tax rate is 40 percent, and number of shares of common stock outstanding is 92,000. LaTonya's Flop Shops has no preferred stock outstanding.

Problem 1: Use the above information to calculate the times interest earned ratio for LaTonya's Flop Shops, Inc.

Reference no: EM132952286

Questions Cloud

Gender difference in leadership gaps in the workplace : Provide FIVE strategies for how the human resource can reduce the gender difference in leadership gaps in the workplace. Explain each strategies.
How does sustainability influence production of nestle : How does sustainability influence production of nestle?
Discuss implementation of innovative business strategies : Discuss the implementation of innovative business strategies that will help in addressing the sustainability challenges in nestle?
Conducting a performance review of an employee : In this task you are required to describe an appropriate course of activities/actions that you have undertaken to manage the below mentioned workplace situation
Calculate times interest earned ratio for latonya flop shops : Sales are $1.52 million, cost of goods sold is $610,000, depreciation expense is $152,000. Calculate times interest earned ratio for LaTonya's Flop Shops, Inc.
Effective implementation of the strategic plan : How do team members hold each other accountable for the effective implementation of the strategic plan? For example, how does accountability for lead measures a
Identify characteristics of the major market manias : Identify some common elements and characteristics of the major market manias and panics. Do you think we are currently experiencing any asset bubbles?
Prepare an income statement tor the year : Prepare an Income Statement tor the year ending 2021 for Concepcion Trading Company, supported by all computations necessary to determine sales
Prepare the necessary journal entries to correct transaction : Prepare the necessary journal entries to correct the above transactions as of December 31 2021 assuming the books are still open.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd