Question

=
5. Current Ratio - 3.5:1
Quick Ratio = 2:1
24.000
Find out Current assets & current liabilities.
Inventory​

Answer 1

Answer:

good current ratio is between 1.2 to 2, which means that the business has 2 times more current assets than liabilities to covers its debts. A current ratio below 1 means that the company doesn't have enough liquid assets to cover its short-term liabilities.

Explanation:

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Answer 2

$\sf\red{Let\: current\: liabilities\:be \: x. }$

$\sf\red{Current \: ratio= 3.5:1 ; Current \:assets = 3.5x}$

$\sf\red{ Liquid \: ratio = 2:1 ; Liquid \: assets = 2x}$

$\sf\red{Liquid \: assets = Current \: assets - Inventories}$

$\implies$$\sf{2x = 3.5x - 24,000}$

$\implies$$\sf{3.5x -2x = 24,000}$

$\implies$$\sf{1.5x = 24,000}$

$\implies$$\sf{x = \frac{24,000}{1.5}}$

$\implies$$\sf{Current \: liabilities\: (x) =16,000}$

$\sf\red{Current \: assets = 16,000×3.5}$

$\implies$$\sf{56,000}$

$\sf\red{Liquid \: assets = Current \: assets - Inventories}$

$\implies$$\sf{56,000-24,000}$

$\implies$$\sf{32,000}$