Algonquin Equipment reported the following items on November 30, 2015 (amounts in thousands, with last year's amounts

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Algonquin Equipment reported the following items on November 30, 2015 (amounts in thousands, with last year's amounts also given as needed):

Accounts Payable. $ 434 210 Accounts Receivable, Net: November 30, 2015 November 30, 2014 Cost of Goods Sold. Short-term

Requirements
a. Compute Algonquin Equipment's (a) quick ratio and (b) accounts receivable turnover for 2015.
b. Evaluate each ratio value as strong or weak. Assume Algonquin Equipment sells on terms of net 30.

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Financial Accounting

ISBN: 978-0133375534

2nd Canadian edition

Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad

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Question Posted: Feb 12, 2018 10:34 AM

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Algonquin Equipment reported the following items on November 30, 2015 (amounts in thousands, with last year's amounts

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Dollar amounts in millions Net current Shortterm a ...View the full answer

Financial Accounting

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