JPJ Corp has sales of $1 million, accounts receivable of $50,000, total assets of $5 million (of

Question:

JPJ Corp has sales of $1 million, of $50,000, total assets of $5 million (of which $3 million are fixed assets), inventory of $150,000, and cost of goods sold of $600,000. What is JPJ’s days? Fixed asset turnover? Total asset turnover? Inventory turnover?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...