Question
16:
From the following information, calculate Liquid Ratio:
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Particulars |
` |
Particulars |
` |
|||
|
Current Assets |
2,00,000 |
Trade
Receivables |
1,10,000 |
|||
|
Inventories |
50,000 |
Current
Liabilities |
70,000 |
|||
|
Prepaid
Expenses |
10,000 |
|
|
|||
|
|
|
|
|
|
|
|
Answer:
Quick
Assets or Liquid Assets = Currents Assets – Inventories – Pre-paid Expenses
= ` 2,00,000 – ` 50,000 – ` 10,000 = ` 1,40,000
Current Liabilities = ` 70,000
Current ratio= liquid assets or quick assets/Current
liabilities=1,40,000/70,000=2:1
Question
17:
Quick Assets `3,00,000; Inventory (Stock) `80,000; Prepaid Expenses `20,000; Working Capital `2,40,000. Calculate Current Ratio.
Answer:
Current Assets= Quick Assets +Inventory (Stock) +Prepaid Expenses
Current Assets= 3,00,000+ 80,000+20,000
Current Assets= 4,00,000
Current Liabilities = Current Assets- Working Capital
Current Liabilities = 4,00,000 - 2,40,000
Current Liabilities = 1,60,000
|
Current Ratio |
= |
Current Assets/ Current Liabilities |
|
Current Ratio |
= |
4,00,000/1,60,000 |
|
Current Ratio |
= |
2.5 :1 |
Question
18:
Current Assets `6,00,000; Inventories `1,20,000; Working Capital `5,04,000. Calculate Quick Ratio.
Answer:
|
Quick Assets |
= |
Current Assets + Inventories |
|
|
= |
6,00,000 - 1,20,000 |
|
Quick Assets |
= |
4,80,000 |
|
Current Liabilities |
= |
Current Assets- Working Capital |
|
|
= |
6,00,000-5,04,000 |
|
Current Liabilities |
= |
96,000 |
|
Quick Ratio |
= |
Quick
Assets/ Current Liabilities |
|
|
= |
4,80,000/96,000 |
|
|
= |
5/1 = 5:1 |
Question
19:
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
20:
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
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Ts Grewal Solution 2022-2023
Class 12 / Volume – 3
Chapter 4 – Accounting Ratios
Question No. 1 To 5
Question No. 6 To 10
Question No. 11 To 15
Question No. 16 To 20
Question No. 21 To 25
Question No. 26 To 30
Question No. 31 To 35
Question No. 36 To 40
Question No. 41 To 45
Question No. 46 To 50
Question No. 51 To 55
Question No. 56 To 60
Question No. 61 To 65
Question No. 66 To 70
Question No. 71 To 75
Question No. 76 To 80
Question No. 81 To 85
Question No. 86 To 90
Question No. 91 To 95
Question No. 96 To 100
Question No. 101 To 105
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