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ACG2104 Rasmussen Mod 6 Hill Corporations Times Interest Earned Ratio Quiz

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Accounting
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Rasmussen University
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• Question 1 0.5 out of 0.5 points In the recent year Hill Corporation had net income of $210,000, interest expense of $60,000, and tax expense of $90,000. What was Hill Corporation's times interest earned ratio for the year? Selected Answer: 6.0 Answers: 6.0 5.0 4.5 3.5 • Question 2 0.5 out of 0.5 points The current assets section of the balance sheet should include Selected Answer: inventory. Answers: machinery. patents. goodwill. inventory. • Question 3 0.5 out of 0.5 points Stock dividends distributable should be classified on the Selected Answer: balance sheet as an item of stockholders' equity. Answers: income statement as an expense. balance sheet as an asset. balance sheet as a liability. balance sheet as an item of stockholders' equity. • Question 4 0.5 out of 0.5 points During 2014 the DLD Company had a net income of $75,000. In addition, selected accounts showed the following changes: Accounts Receivable $3,000 increase Accounts Payable 1,000 increase Buildings 4,000 decrease Depreciation Expense 1,500 increase Bonds Payable 8,000 increase What was the amount of cash provided by operating activities? Selected Answer: $74,500 Answers: $74,500 $75,000 $76,500 $84,500 • Question 5 0.5 out of 0.5 points The summarized balance sheets of Goebel Company and Dobbs Company as of December 31, 2014 are as follows: Goebel Company Balance Sheet December 31, 2014 Assets Liabilities Capital stock Retained earnings Total equities $1,200,000 $ 1 ...
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