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Question No 09 Chapter 7 – UNIMAX Class 12 Part 2 – 2021
The ratio of current assets (₹ 9,00,000) to current liabilities (₹ 6,00,000) is 1.5:1. The accountant of the firm is interested in maintaining a current ratio of 2:1 by paying off a part of the current liabilities. Computer the amount of current liabilities the should be paid so that current ratio at the level of 2: 1 may be maintained.
| Current Ratio = | = | Current Assets |
| Current Liabilities |
| 1.5 | = | 9,00,000 |
| 6,00,000 |
Let current liabilities be x to be paid
| 2 | = | 9,00,000 – x | |
| 1 | 6,00,000 – x |
| 6,00,000 – x | = 9,00,000 – X |
| 12,00,000 – 9,00,000 | = X + 2X |
| X | =₹3,00,000 Ans. |
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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