Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,170,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 138,000 841,000 439,000 533,000 $ 1,951,000 a. Compute the following: Note: Round your answers to 2 decimal places. 1. Accounts receivable turnover 2. Inventory turnover 3 Fixed asset turnover Turnover Ratios times times timon
Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,170,000. Assets were as follows: Cash Accounts receivable Inventory Net plant and equipment Total assets $ 138,000 841,000 439,000 533,000 $ 1,951,000 a. Compute the following: Note: Round your answers to 2 decimal places. 1. Accounts receivable turnover 2. Inventory turnover 3 Fixed asset turnover Turnover Ratios times times timon
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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![Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,170,000. Assets were as follows:
Cash
Accounts receivable
Inventory
Net plant and equipment
Total assets
$ 138,000.
841,000
439,000
533,000
$ 1,951,000
a. Compute the following:
Note: Round your answers to 2 decimal places.
1. Accounts receivable turnover
2. Inventory turnover
3. Fixed asset turnover
4. Total asset turnover
Turnover Ratios
times
times
times
times](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F29bdc729-eeba-4034-8f4b-26b16c29518a%2F4b610cbb-adf4-44fd-89d1-86e303349024%2F0n1dg99_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Jim Short's Company makes clothing for schools. Sales in 20X1 were $4,170,000. Assets were as follows:
Cash
Accounts receivable
Inventory
Net plant and equipment
Total assets
$ 138,000.
841,000
439,000
533,000
$ 1,951,000
a. Compute the following:
Note: Round your answers to 2 decimal places.
1. Accounts receivable turnover
2. Inventory turnover
3. Fixed asset turnover
4. Total asset turnover
Turnover Ratios
times
times
times
times
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