What is the balance of inventory and the balance of depreciation? A company has total assets of $30 million, of which $18 million are currentassets. Cash makes up 12% of current assets, and accounts receivable make up38% of current assets. The gross plant and equipment have a book value of $22million, and other long-term assets have a book value of $600,000.What is the balance of inventory and the balance of depreciation?

Step 1: Calculate Inventory BalanceWe know that:Total current assets = $18 millionCash makes up 12%…

Answered: A company has total assets of $30…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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General accounting
Balance sheet?
JPJ Corp has sales of $1.11 million, accounts receivable of $52,000, total assets of $5.12 million (of which $3.14 million are fixed assets), inventory of $151,000, and cost of goods sold of $608,000. 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 _____ days. (Round to two decimal places.)
JPJ Corp has sales of $1.27 million, accounts receivable of $52,000, total assets of $4.96 million (of which $2.77 million are fixed assets), inventory of $152,000, and cost of goods sold of $604,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? JPJ's inventory turnover is
JPJ Corp has sales of $1.27 million, accounts receivable of $52,000, total assets of $4.96 million (of which $2.77 million are fixed assets), inventory of $152,000, and cost of goods sold of $604,000. 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 enter your response here days. (Round to two decimal places.) Part 2 What is JPJ's fixed asset turnover? JPJ's fixed asset turnover is enter your response here . (Round to two decimal places.) Part 3 What is JPJ's total asset turnover? JPJ's total asset turnover is enter your response here . (Round to two decimal places.) Part 4 What is JPJ's inventory turnover? JPJ's inventory turnover is enter your response here .
Brenda’s Bar and Grill has total assets of $15 million of which $5 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Brenda’s gross plant and equipment has a book value of $11.5 million and other long-term assets have a book value of $500,000. Using this information, what is the balance of inventory and the balance of depreciation on Brenda Bar and Grill’s balance sheet?
The Huntzicker Company reported gross sales of $920,000, sales returns and allowances of $8,000, and sales discounts of $7,000. The company has average total assets of $600,000, of which $300,000 is property, plant, and equipment. What is the company's asset turnover ratio?
Aardvark & Co. has sales of $291,200, cost of goods sold of $163,300, net profit of $11,360, net fixed assets of $154, 500, and current assets of $89, 500. What is the total asset turnover rate? a) 1.19 b) 1.11 c) 1.24 d) 1.08 e) 1.28
Mikey's bar-and-grill has total assets of 23 million dollars of which 17 million dollars are current assets cash makes up 10% of the current assets and accounts receiv will makes up another 40% of current assets Mikey's gross plan and equipment has both value of 18.5 million dollars and another long term assets have a book value of 400,000. What is the balance of inventory and the balance of depreciation of Mikey's bar-and-grill's balance sheet enter your answers in millions of dollars rounded to 1 decimal place.
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General Accounting

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