a. Compute the following: (Round the final answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover b. In 20XY, sales Increased to $5,000,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets Compute the following: (Round the final answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover $ 100,000 900,000 975,000 550,000 $2,525,000 c. Indicate if there is an improvement or decline in total asset turnover. Decline Improvement
a. Compute the following: (Round the final answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover b. In 20XY, sales Increased to $5,000,000 and the assets for that year were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets Compute the following: (Round the final answers to 2 decimal places.) 1. Accounts receivable turnover 2. Inventory turnover 3. Capital asset turnover 4. Total asset turnover $ 100,000 900,000 975,000 550,000 $2,525,000 c. Indicate if there is an improvement or decline in total asset turnover. Decline Improvement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me with required a and required b and required c thanku
Transcribed Image Text:Jim Kovacs Company makes supplies for schools. Sales In 20XX were $4,000,000.
Assets were as follows:
Cash
Accounts receivable
Inventory
Net plant and equipment
Total assets
a. Compute the following: (Round the final answers to 2 decimal places.)
1. Accounts receivable turnover
2. Inventory turnover
3. Capital asset turnover
4. Total asset turnover
b. In 20XY, sales increased to $5,000,000 and the assets for that year were as
follows:
Cash
Accounts receivable
Inventory
Net plant and equipment
Total assets
$ 100,000
800,000
400,000
500,000
$1,800,000
1. Accounts receivable turnover
2. Inventory turnover
3. Capital asset turnover
4. Total asset turnover
Compute the following: (Round the final answers to 2 decimal places.)
$ 180,000
900,000
975,088
550,000
$2,525,000
Decline
Improvement
X
X
c. Indicate if there is an improvement or decline in total asset turnover.
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