Accountancy, asked by 6321ayush, 5 hours ago

current assets264000, inventories57000, prepaid exp. 3000, current liability204000, trade payable12000, calculate the quick ratio

Answers

Answered by FarahRaza

0

Quick ratio = Liquid assets (Current Assets - inventories)

Current Liabilities = 3,00,000 - 60,000

75,000 (Working Note 1)

= 2,40,000

75,000

= 3.2:1

Working note number 1 - calculation of current liabilities Working capital = Current Assets - Current liabilities

Current liabilities = Current assets - Working capital. = 3,00,000 - 2,25,000 = 75,000.

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