Question

Shine limited has current ratio 4.5:1 and quick ratio 3:1 if inventory is 36000 calculate current liability and current assets

Answer 1

Explanation:

Current ratio =

CA/CL = 4.5/1

CA = Current Assets

CL = Current Liabilities

Suppose,

Current Liabilities = x

Current Assets = 4.5x

Quick Ratio =

Quick Assets/Current Liabilities = 3/1

So,

Quick Assets = 3x

Inventory = Current Assets - Quick Asset

36,000 = 4.5x - 3x

x = 36,000/1.5

x = 24,000

Current Liabilities = 24,000

Current Assets = 4.5x

= 4.5 × 24,000

= 1,08,000

Current Assets = 1,08,000

Hence, Current Liabilities = 24,000 and Current Assets = 1,08,000

Answer 2

Answer:

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Explanation: