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Secure https//www.math dent/PlayerHomework.aspx?homeworkld 503013 estionld 5&flushed-true&cld-5223362&centerwin-y FIN 300 Fall 2018 Stelk Kaylyn King &1 9/7/18 11:09 PM Homework: Chapter 2 Homework Problems Score: 0 of 1 pt P 2-28 (similar to) 17or 20 (12 complete) HW Score: 52%, 104 of 20 pt Question Help * inventory of $149 000, and UPJ Corp has sales of $1 03 million, accounts receivable of $48,000, total assets of $4.87 million (of which $3 03 million are fixed assets) cost of goods sold of $610.000 What is JPJ's accounts receivable days? Fixed asset turmover? Total asset turnover? Norke What is JPJ's accounts receivable days? Question OK 3

Explanation / Answer

to find account receivable days , first we need to find out average daily sales

average daily sales = annual sales / 365 days

=>$1,030,000 / 365 days

=>2,821.92.

account receivable days = $48,000 / 2,821.92

=>17.01 days ........(rounded to two decimals).

Fixed asset turnover = sales / fixed assets

=>$1,030,000 / $3,030,000

=>0.34 times.

total asset turnover = sales / total assets = $1,030,000 / 4,870,000

=>0.21 times.

Inventory turnover = cost of goods sold / inventory

=>$610,000 / 149,000

=>4.09 times.

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