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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
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
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.
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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