Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales Discount Net sales COS Salaries Depreciations expense Utilities Commissions Insurance expense Rent expense Interest expense Net income before tax Tax 25% Net income after tax Required: Compute for the time interest earned 2020 P4,750,000.00 P16,000.00 P7,000.00 $4,727,000.00 $2,299,000.00 $400,000.00 P90,000.00 P45,000.00 $50,000.00 P15,000.00 P30,000.00 $25.000.00

Venus corp has the following income statement for the year 2020 Gross sales Sales return Sales Discount Net sales COS Salaries Depreciations expense Utilities Commissions Insurance expense Rent expense Interest expense Net income before tax Tax 25% Net income after tax Required: Compute for the time interest earned 2020 P4,750,000.00 P16,000.00 P7,000.00 $4,727,000.00 $2,299,000.00 $400,000.00 P90,000.00 P45,000.00 $50,000.00 P15,000.00 P30,000.00 $25.000.00

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 12P

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