Jones Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements. Instructions
Compute the following:
(a) Accounts receivable turnover and the average number of days required to collect the accounts receivable.
(b) The inventory turnover and the average days in inventory.
(c) Return on common stockholders' equity.

Question

Jones Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements.  Instructions
Compute the following:
(a) Accounts receivable turnover and the average number of days required to collect the accounts receivable.
(b) The inventory turnover and the average days in inventory.
(c) Return on common stockholders' equity.

Quizplus · Accepted Answer

The Answer of Jones Corporation has issued common stock only. The company has been successful and has a gross profit rate of 20%. The information shown below was taken from the company's financial statements.  Instructions
Compute the following:
(a) Accounts receivable turnover and the average number of days required to collect the accounts receivable.
(b) The inventory turnover and the average days in inventory.
(c) Return on common stockholders' equity.

Jones Corporation Has Issued Common Stock Only