17.2 CengageNOWv2 X Broward College Hoi Homepage BCOnlit C Chegg Study | Guide+

Question

17.2

CengageNOWv2 X Broward College Hoi Homepage BCOnlit C Chegg Study | Guide+ v2 cengagenow con intake ssignment takeAssignmen Main doi voker-assignments& takeAssignmentSessionLoca or-assignment t ? Cengage ? ? ? ? ? ? ? ? Ch 17-2 Practice Exercises Book Show Me How Calculator Print Item 1. PE.17-01.ALGO 2. PE. 17-02·ALGO 3. PE.17-03.ALGO Times interest earned A company reports the following Income before income tax Interest expense Determine the times interest earned ratio. If required, round the answer to one decimal place $1,458,000 135,000 4. PE.17-04.ALGO 5. PE.17-05.ALGO 6. PE. 17-07. ALGO 7. PE.17-08.ALGO 8. PE.17-09.ALGO 9. PE.17-10.ALGO 10. PE. 17-11.ALGO Check My Work PreviousS Next 11-34 PM 4/18/2018 2 more Check M? Work uses remaining Type here to search

Explanation / Answer

Number of times interest charges are earned = (Income before income tax + Interest expense) / Interest expense

Number of times interest charges are earned = ($1,458,000 + $135,000) / $135,000

Number of times interest charges are earned = 11.8

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