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if current ratio=2.5 : 1
liquid ratio= 1:1
closing stock=rs 45000
calculate
current assets
current liabilities
liquid assets
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Answer Posted / lana
Current Ratio= Current Assets(C.A)/Current Liabilities(C.L.)
Liquid Ratio = Quick Assets(Current Assets - Inventory)/ Current Liabilities
* (C.A - 45000)/ C.L. = 1
* C.A./C.l. - 45000/C.l. = 1
* 2.5/1 - 45000/c.l. = 1
* 1.5 = 45000/ C.L.
* C.L = 45000/1.5
* C.L = 30000
* C.A. / C.L. = 2.5/1
* C.A. = 30000 * 2.5
* C.A. = 75000
Liquid assets = Current assets - Inventory
= 75000 - 45000
= 30000
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A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
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