Question

Seminole Equipment reported the following items on July 31, 2012 (amounts in thousands, with last year’s amounts also given as needed):


Requirements
1. Compute Seminole Equipment’s
(a) Quick ratio,
(b) Current ratio, and
(c) Accounts receivable turnover for 2012.
2. Evaluate each ratio value as strong or weak. Assume Seminole Equipment sells on terms of net30.


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  • CreatedApril 29, 2014
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