Given the following data, determine the times interest earned ratio.

Net income, $70,000
Bonds payable, issued at face value, 8%, $5,000,000
Tax rate is 30%
Interest payable, $6,000
Interest receivable, $1,700

Question

Given the following data, determine the times interest earned ratio.
​
Net income, $70,000
Bonds payable, issued at face value, 8%, $5,000,000
Tax rate is 30%
Interest payable, $6,000
Interest receivable, $1,700

Quizplus · Accepted Answer

The Answer of Given the following data, determine the times interest earned ratio.
​
Net income, $70,000
Bonds payable, issued at face value, 8%, $5,000,000
Tax rate is 30%
Interest payable, $6,000
Interest receivable, $1,700

Given the Following Data, Determine the Times Interest Earned Ratio