The ratio of current asset rupees 600000 to current liabilities rupees 400000 is 1.5 is . The Accountant of the firm is interested in maintaining a current ratio of 2:1 by paying of a part of the current liabilities.
Compute the amount of current liabilities that should be paid so that the current ratio at level of 2:1 May be maintained.
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Answer:
600000-400000=200000
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Current ratio
Explanation:
Given:
Current ratio = 2 : 1
New Current liabilities = ?
Old Current liabilities = 400,000
Current assets = 600,000
Computation of current assets:
Current ratio = Current assets / Current liabilities
2 : 1 = 600,000 / New Current liabilities
New Current liabilities = 600,000 / 2
New Current liabilities = 300,000
Paid liabilities = Old Current liabilities - New Current liabilities
Paid liabilities = 400,000 - 300,000
Paid liabilities = 100,000
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