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12th | Accounting Ratio | Question No. 21 To 25 | Ts Grewal Solution 2023-2024

Question 21:


Current Liabilities of a company are  ` 6,00,000. Its Current Ratio is 3 : 1 and Liquid Ratio is 1 : 1. Calculate value of Inventory

Answer:


Current ratio= Quick assets/Current liabilities=3/1

Acid test ratio= Liquied assets/Current liabilities=1/1

Current Liabilities = 6,00,000

Current Assets = 3 × Current Liabilities

= 3 × 6,00,000 = 18,00,000

Liquid Assets = 1 × 6,00,000 = 6,00,000

Inventory = Current Assets − Liquid Assets

= 18,00,000 − 6,00,000 = 12,00,000

 

Question 22:


Moon Ltd. has a Current Ratio of 3.5 : 1 and Quick Ratio of 2 : 1. If the Inventories is   `  24,000; calculate total Current Liabilities and Current Assets.

Answer:


Current ratio= Current assets/Current liabilities=3.5/1

 

Quick ratio= Quick assets/Current liabilities=2/1

Let Current Liabilities be = x

Current Assets = 3.5 x

Quick Assets = 2 x

Stock = Current Assets − Quick Assets

24,000 = 3.5 x − 2 x

or, 24,000 = 1.5 x

x = 16,000

Current Liabilities = x =  ` 16,000

Current Assets = 3.5 x = 3.5 × 16,000 =  ` 56,000

 

Question 23:


Umesh Ltd. has Current Ratio of 4.5 : 1 and a Quick Ratio of 3 : 1. If its inventory is `  36,000, find out its total Current Assets and total Current Liabilities.

Answer:


Current ratio= Current assets/Current liabilities=4.5/1

 

Quick ratio= Quick assets/Current liabilities=3/1

Inventory = 36,000

Let Current Liabilities be = x

Current Assets = 4.5x

Quick Assets = 3x

Stock = Current Assets − Quick Assets

36,000 = 4.5x − 3x

x = 24,000

Current Assets = 4.5x = 4.5 × 24,000 = 1,08,000

Liquid Assets= 3x = 3 × 24,000 = 72,000

 

Question 24:


Current Ratio 4; Liquid Ratio 2.5; Inventory   `  6,00,000. Calculate Current Liabilities, Current Assets and Liquid Assets.

Answer:


Current ratio= Current assets/Current liabilities=4/1

 

Liquid ratio= Liquid assets/Current liabilities=2.5/1

Inventory = 6,00,000

Let Current Liabilities be = x

Current Assets = 4x

Quick Assets = 2.5x

Stock = Current Assets − Quick Assets

6,00,000 = 4x − 2.5x

x = 4,00,000

Current Assets = 4x = 4 × 4,00,000 = 16,00,000

Liquid Assets = 2.5x = 2. 5× 4,00,000 = 10,00,000

 

Question 25:


Current Liabilities of a company are   `1,50,000. Its Current Ratio is 3 : 1 and Acid Test Ratio (Liquid Ratio) is 1 : 1. Calculate values of Current Assets, Liquid Assets and Inventory.

Answer:


Current ratio= Current assets/Current liabilities=3/1

 

Acid test ratio= Liquid assets/Current liabilities=1/1

Current Liabilities = 1,50,000

Current Assets = 3 × Current Liabilities

= 3 × 1,50,000 = 4,50,000

Liquid Assets = 1 × 1,50,000 = 1,50,000

Inventory = Current Assets − Liquid Assets

= 4,50,000 − 1,50,000 = 3,00,000

 

Ts Grewal Solution 2023-2024

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Class 12 / Volume – I

Chapter 3 – Accounting Ratio

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