From the following information calculate the Current Ratio.
Stock 50000, creditors 6000 , debtors 40000, B/P 40000, B/R 10000,Bank O/D 4000, cash 30000, bank 4000
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Answer:
Current Assets=Stock+Debtors+B/R+Cash
=50,000+40,000+10,000+30,000
=130,000
Current Liabilities =Creditors+B/P+Bank O/D+Bank
=6000+40000+4000+4000
=54,000
Explanation:
Current ratio = Current Assets / Current Liabilities
=130000/54000
=2.407
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