Question

company stock turnover is 5 times rupees 5000 more than and all the beginning sales all credits are 200000 rate of gross profit on cost one fourth.Current liabilities rs.60000,Quick ratio 0.75.calculate current assets??​

Answer 1

Answer:

Explanation:

Gross profit ratio = (gross profit/ net sales) *100

          1/5             = (GP/200000)           {GP on cost(1/4) =  GP on sale (1/5)}

GP = 40000

COGS  =  sale - gross profit

           = 200000 - 40000 = 160000

0

Stock turn over = COGS / Average stock

            5            = 160000/ Average stock

   Average stock = 32000

Average stock = (opening stock + closing stock) / 2

    32000*2      =

quick ratio = Current asserts : current liabilities = 0.75

                              3               :         4

current liabilities (4X) = 60000 => X = 15000

current asserts (3X) = 3*15000 = 4500

Sorry i am unable to  solve this may be this will be helpful for you