Question

Aditya acceptance for 8000 which was endorsed by Akash to Angel was dishounored. Angel paid 500 as noting charges. Journalise the above in the books of Aksha​

Answer 1

Answer:

current ratio = current assets/ current liabilities

current ratio= 2.75/1 (given)

2.75 = current assets/ 60000

current assets = 165000

acid ratio = liquid assets/current liabilities

acid ratio =1.25/1 (given)

1.25 = liquid assets/60000

liquid assets = 75000

inventory = current assets - liquid assets

inventory = 165000 -75000

inventory = 90000

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Explanation: