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Question 3 Chapter 7 -Unimax Publication Class 12 Part 2 – 2021

Question No -3 Chapter no - 7 Unimax Class - 12 Part -II
Question No -3 Chapter no - 7 Unimax Class - 12 Part -II

Question 3  Chapter 7 – Unimax Publication Class 12 Part 2 – 2021

A firm has a current ratio of 3:1. Its net working capital is ₹ 2,00,000. You are required to determine 1. Current Asset 2. Current Liabilities 3. Liquid assets assuming inventory of ₹ 2,20,000.

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The solution of Question 3 Chapter 7 – Unimax Publication Class 12 Part 2-2021 : –

Current Ratio = = Current Assets = 3
  Current Liabilities 1
Let current assets = 3 x
Current liabilities = 1 x
Working capital Current assets – current liabilities
2,00,000 = 3x – 1x
2,00,000 = 2x
  = 2,00,000 = ₹ 1,00,000
x 2
Current liabilities = x = ₹ 1,00,000
Current assets = 3x = 3 x 1,00,000 = ₹ 3,00,000
Quick assets = Current assets – stock
  = 30,00,000 – 2,20,000
  = 80,000 Ans.

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Accounting Ratios – Meaning and Definition

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Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution

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