JPJ Corp has sales of $ 1 05 million, accounts receivable of $52,000, ...

JPJ Corp has sales of $ 1.05 â€‹million, accounts receivable of $ 52,000â€‹, total assets of...

70.2K

Verified Solution

Question

Finance

JPJ Corp has sales of $ 1.05 â€‹million, accounts receivable of $52,000â€‹, total assets of $ 5.13 millionâ€‹ (of which $ 2.76 millionare fixedâ€‹ assets), inventory of $ 154,000â€‹, and cost of goods soldof $ 603,000. What isâ€‹ JPJ's accounts receivableâ€‹ days? Fixedassetâ€‹ turnover? Total assetâ€‹ turnover? Inventoryâ€‹ turnover?

Answer & Explanation Solved by verified expert

4.1 Ratings (592 Votes)

Solution Calculation of Accounts Receivable days The formula for calculating the Accounts Receivable days is Accounts Receivable days Accounts receivable Sales 365 As per the information given in the question we have Accounts receivable 52000 Sales 1050000 Thus applying the above values in the formula we have See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member