Quick ratio is 1.5,current assests rs100000, current liabilities rs40000. Calculate value of stock
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Answer:
Value of Stock = Rs40,000
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Value of stock
Explanation:
Given:
Quick ratio = 1.5
Current assets = 100,000
Current liabilities = 40,000
Stock = ?
Computation of Stock:
Quick ratio = (Quick assets) / Current liabilities
Quick ratio = (Current assets - Stock) / Current liabilities
1.5 = (100,000 - Stock) / 40,000
40,000 x 1.5 = 100,000 - Stock
60,000 = 100,000 - Stock
Stock = 100,000 - 60,000
Stock = 40,000
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