Lal 's capital in the business is Rs2,80,000 and his liabilities amounting to Rs1,46,000. Ratio
between current and fixed assets is 3:2. find out the value of his current and fixed assets
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Answer:
CURRENT ASSETS = 2,55,600
FIXED ASSETS = 1,70,400
Explanation:
TOTAL ASSETS = CAPITAL + LIABILITIES (as per ACCOUNTING EQUATION)
TOTAL ASSETS = 2,80,000 + 1,46,000
TOTAL ASSETS = 4,26,000
NOW
CURRENT ASSETS = TOTAL ASSETS * 3/5
CURRENT ASSETS = 4,26,000 * 3/5
CURRENT ASSETS = 2,55,600
FIXED ASSETS = TOTAL ASSETS * 2/5
FIXED ASSETS = 4,26,000 * 3/5
FIXED ASSETS = 1,70,400
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