Table of Contents
Question 32 Chapter 4 of +2-B
32. From the following calculate: (Current Ratio; and (ii) Quick Ratio:
| Amount | Amount | ||
| Total Debts | 6,00,000 | Long-term Borrowings | 2,00,000 |
| Total Assets | 8,00,000 | Long-term Provisions | 2,00,000 |
| Fixed Assets( Tangible) | 3,00,000 | Inventories | 95,000 |
| Non-current investment | 50,000 | Prepaid Expenses | 5,000 |
| Long-term loans and Advances | 50,000 |
The solution of Question 32 Chapter 4 of +2-B: –
| Current Assets | = | Inventory + Trade Receivables + Cash and Cash Equivalents |
| = | 8,00,000 – 3,00,000 – 50,000 – 50,000 | |
| Current Assets | = | Rs. 4,00,000 |
| Current Liabilities | = | Total Debt – Non-Current Liabilities |
| = | 6,00,000 – 2,00,000 – 2,00,000 | |
| Current Liabilities | = | Rs. 20,000 |
| Quick Assets | = | Current Assets – Inventories – Prepaid Expenses |
| = | 4,00,000 – 95,000 – 5,000 | |
| Liquid Assets | = | Rs. 3,00,000 |
| Current Ratio | = | Current Assets | = | Rs.4,00,000 |
| Current Liabilities | Rs.2,00,000 | |||
| = | 2: 1 |
| Liquid Ratio | = | Liquid Assets | = | Rs.3,00,000 |
| Current Liabilities | Rs.2,00,000 | |||
| = | 1.5: 1 |
Balance Sheet: Meaning, Format & Examples
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Also, Check out the solved question of previous Chapters: –
T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)
- Chapter No. 1 – Financial Statement of Not-For-Profit Organisations
- Chapter No. 2 – Accounting for Partnership Firms – Fundamentals
- Chapter No. 3 – Goodwill: Nature and Valuation
- Chapter No. 4 – Change in Profit-Sharing Ratio Among the Existing Partners
- Chapter No. 5 – Admission of a Partner
- Chapter No. 6 – Retirement/Death of a Partner
- Chapter No. 7 – Dissolution of a Partnership Firm
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 8 – Company Accounts – Accounting for Share Capital
- Chapter No. 9 – Company Accounts – Issue of Debentures
- Chapter No. 10 – Redemption of Debentures
T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)
- Chapter No. 1 – Financial Statements of a Company
- Chapter No. 2 – Financial Statement Analysis
- Chapter No. 3 – Tools of Financial Statement Analysis – Comparative Statements and Common- Size Statements
- Chapter No. 4 – Accounting Ratios
- Chapter No. 5 – Cash Flow Statement
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