current ratio=2.6:1 and current asset=390000,stock=90000.calculate acid test ratio
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Acid-test ratio
Explanation:
Given:
Current ratio = 2.6 : 1
Stock = 90,000
Current assets = 390,000
Current liabilities = ?
Computation:
Current ratio = Current assets / Current liabilities
2.6 = 390,000 / Current liabilities
Current liabilities = 390,000 / 2.6
Current liabilities = 150,000
Acid-test ratio = (Current assets - Stock) / Current liabilities
Acid-test ratio = (390,000 - 90,000 ) / 150,000
Acid-test ratio = (300,000) / 150,000
Acid-test ratio = 2:1
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