JPJ Corp has sales of $ 1.16 million, accounts receivable of $ 47,000, total assets of $ 4.81 million (of which $ 3.05 million are fixed assets), inventory of $ 153,000, and cost of goods sold of $ 590,000.

a. What is JPJ's accounts receivable days?
b. Fixed asset turnover?
c. Total asset turnover?
d. Inventory turnover?

a. JPJ's accounts receivable days:  14.79 days

b. JPJ's Fixed asset turnover:  0.38

c. JPJ's Total asset turnover: 0.24

d. JPJ's Inventory turnover: 3.86

Explanation:

a. The accounts receivable days is calculated by using following formula:

The accounts receivable days = (Accounts receivable/Annual Sales) x Number of days in the year = ($47,000/$1,160,000) x 365 = 14.79 days

Fixed asset turnover = Net Sales/Fixed assets = $1,160,000/$3,050,000 = 0.38

Total asset turnover helps investors understand how effectively companies are using their assets to generate sales. Total asset turnover is calculated by using following formula:

Total Asset Turnover =  Total Sales/Total Assets  = $1,160,000/$4,810,000 = 0.24

Inventory turnover = Cost of goods sold/Inventory = $590,000/$153,000 = 3.86

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b. a single paragraph.

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