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Question No 04 Chapter 7 – UNIMAX Class 12 Part 2 – 2021
From the following calculation current ratio and acid test ratio:
| Particulars | ₹ |
| Fixed assets | 1,00,000 |
| Sock | 37,200 |
| Debtors | 19,200 |
| Cash | 39,600 |
| Prepaid expenses | 10,000 |
| Creditors | 36,000 |
| Bank overdraft | 17,000 |
| Reserve | 10,000 |
| Current Ratio | = | Current Assets | = |
| Current Liabilities |
| Current Assets | = | Stock + debtors + cash + pre. Expenses |
| = | 37,200 +19,200 + 39,600 + 10,000 | |
| = | ₹ 1,06,000 | |
| Current Liabilities | = | Creditors + bank overdraft |
| = | 36,000 + 17,000 | |
| = | ₹ 53,000 |
| Current Ratio | = | 1,06,000 | = | ₹ 2 : 1 Ans |
| Quick Ratio= | = | Quick Assets |
| Current Liabilities |
| Quick Assets | = | Debtors + Cash |
| = | 19,200 + 39,600 | |
| ₹ 58,800 | ||
| Current Liabilities | Creditors + bank overdraft | |
| = | 36,000 + 17,000 | |
| = | ₹ 53,000 |
| Quick Ratio= | = | 58,800 | = | ₹ = 1.11:1 Ans |
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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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