Cherokee Equipment reported the following items on December 31, 2012 (amounts in thousands, with last years amounts

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


Cherokee Equipment reported the following items on December 31, 2012


Requirements
1. Compute Cherokee 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 Cherokee Equipment sells on terms of net30.

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Related Book For  answer-question

Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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