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
Related questions
Question
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F65aaf37a-5b00-4fa9-9725-a7b9982c912f%2F94e0cc02-d6d9-4523-aa09-dd14b9c14f17%2Fta1dpro_processed.jpeg&w=3840&q=75)
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.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education