The following data are for the Junior Mart Stores. Property, plant, and equipment (PP&E)  
The following data are for the Junior Mart Stores.
Property, plant, and equipment (PP&E) 2,500
Total reported assets 5,000
Total reported liabilities 2,000
Sales 15,000
Estimated value of PP&E leased 3,500
Estimated “lease payment
obligation” not in balance sheet 3,500
Compute Junior Mart’s ADJUSTED PPE turnover ratio after considering the impact of the off-balance-sheet leased assets and lease obligation.
Group of answer choices
2.50
0.40
3.08
0.32
0.71
Homework Answers
Answer
a. 2.50
Calculations:
| Particulars | ||
| A | Sales | $ 15,000 |
| B | Total PPE* | $ 6,000 |
| A/B | Adjusted PPE turnover ratio | 2.50 |
*
| Property, plant, and equipment (PP&E) | $ 2,500 |
| Estimated value of PP&E leased | $ 3,500 |
| Total PPE | $ 6,000 |
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The following data are for the Junior Mart Stores.
Property, plant, and equipment
(PP&E)  
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