Long Answer Type II YulSLIUII U Q.30 Current ratio of a company is 2:1 and quick ratio is 1:1. If valiue of inventory Is Rs 10,000 and prepaid insurance is Rs 5000 then calculate the value of current assets, current liabilities and liquid assets. hent of profit and loss.
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CurrentRatio=Current AssetsCurrent Liabilities=Rs1700000Current Liabilities=2.5
Current Liabilities =Rs17000002.5=Rs680000
Liquid Ratio =Liquid AssetsCurrent Liabilities=LiquidAssetsRs680000=0.95
Liquid Assets =Rs680000×0.95=Rs646000
Inventorey=current Assets -Liquid Assets
=Rs 1700000-Rs 646000=Rs 1054000
Explanation:
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