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Question 13 Chapter 14 of Class 12 Part – 2 – 2024
13. (Current Ratio & Acid Test Ratio given )Given
The current ratio of 2: 1
Acid Test ratio of 0.5: 1
Current Liabilities ₹ 2,00,000
Find out
Current assets
Quick assets
Inventories
Solution: - (a)
| Current Ratio | = | 2 : 1 |
| Current Liabilities | = | 2,00,000 |
| Current Assets | = | Current Liabilities x 2 |
| = | ₹ 2,00,000 x 2 | |
| = | ₹ 4,00,000 |
Solution: - (b)
| Quick Ratio | = | 0.5 : 1 |
| Current Liabilities | = | ₹ 2,00,000 |
| Quick Assets | = | Current Liabilities x 0.5 |
| = | ₹ 2,00,000 x 0.5 | |
| = | ₹ 1,00,000 |
Solution: - (c)
| Inventories | = | Current Assets – Quick Assets |
| = | ₹ 4,00,000 - ₹ 1,00,000 | |
| = | ₹ 3,00,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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