Question

2x Ltd has a current ratio 4:l and its liquid Scho sf 311. If inventory is 36,000. tikd out the value of total current assets, total quick assets and total Corrent Liabilities.
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Answer 1

Explanation:

current ratio = CA/CL = 4/1

= CA = 4CL

Liquid ratio = Liquid assets/ CL

LA = CA - inventory

LA = 4CL - 36000

LR = 4CL-36000/CL

3:1 = 4CL - 36000/CL

3CL = 4CL - 36000

CL = 36000

CA = 4CL = 4*36000= 144000

Quick Assets = 144000 - 36000 = 108000

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Answer 2

Explanation:

current ratio = CA/CL = 4/1

= CA = 4 CL

Liquid ratio = Liquid assets/ CL

LA = CA - inventory

LA = 4 CL - 36000

LR = 4 CL-36000/CL

3:1 = 4 CL - 36000/CL

3 CL = 4 CL - 36000

CL = 36000

CA = 4 CL = 4*36000= 144000

Quick Assets = 144000 - 36000 = 108000

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