JPJ Corp has sales of $1.36 million, accounts receivable of $54,000, total asset

Question

JPJ Corp has sales of $1.36 million, accounts receivable of $54,000, total assets of $5.04 million (of which $2.81 million are fixed assets), inventory of $160,000, and cost of goods sold of $603,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? What is JPJ's accounts receivable days? JPJ's accounts receivable days are What is JPJ's fixed asset turnover? JPJ's fixed asset turnover is What is JPJ's total asset turnover? JPJ's total asset turnover is What is JPJ's inventory turnover? JPJ's inventory turnover is days. (Round to two decimal places.) Round to two decimal places.) (Round to two decimal places.) (Round to two decimal places.)

Explanation / Answer

Part A:

Account Recievable Days = Account Recievables/ Average Daile Sales

Account Recievable Days = 54,000/ (1,360,000/365)

Account Recievable Days = 14.49 days

Part B:

FIxed Asset Turnover = Sales/ Fixed Assets

FIxed Asset Turnover = 1.36/ 2.81

Fixed Asset Turnover = 0.48

Part C

Total Asset Turnover = Sales/ Total Assets

Total Asset Turnover = 1.36/ 5.04

Total Asset Turnover = 0.27

Part D

Inventory Turnover = Cost of good Sold/ Inventory

Inventory Turnover = 603,000/ 160,000

Inventory Turnover = 3.77

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