(ACCOUNTANCY) X Ltd. has current Ratio of 4.5:1. and a Quick ratio of 3:1. if its inventory is ₹ 36000, find out its total current assets and total current liabilities.
Answers
Answer:
Total Current assets = ₹ 1,08,000
Total Current liabilities = ₹ 24,000
Step-by-step explanation:
Let,
Current liabilities = x
So,
Current assets = 4.5x
Quick assets = 3x
Inventory = ₹ 36,000
Inventories = current assets - quick assets
⇒ ₹ 36,000 = 4.5x - 3x
⇒ ₹ 36,000 = 1.5x
⇒ x = 36,000 / 1 .5
⇒ x = 24,000
Current liabilities = ₹ 24,000
Current assets = 4.5x
⇒ 4.5 (24,000)
⇒ 4.5 × 24,000
⇒ 108000
Current assets = ₹ 1,08,000
Quick assets = 3x
⇒ 3 (24,000)
⇒ 72000
Quick assets = ₹ 72,000
★ Solution is :
Total Current assets = ₹ 1,08,000
Total Current liabilities = ₹ 24,000
★ Verification :
⇒ Current ratio = current assets : current liabilities
⇒ Current ratio = ₹ 1,08,000 : ₹ 24,000
⇒ Current ratio = 4.5 : 1
Quick ratio = Quick assets : current liabilities
⇒ Quick ratio = ₹ 72,000 : ₹ 24,00
⇒ Quick ratio = 3 : 1
Answer:
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