Quick ratio is 1.8 : 1, current ratio is 2.7 : 1 and current liabilities are Rs 60,000. Determine value of stock.

Rs 54,000

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Rs 60,000

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Rs 1,62,000

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None of these

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Solution

The correct option is A
Rs 54,000

Quick ratio= 1.8:1

It means if current liabilities are Rs 60,000,
then liquid assets = 60,000 $\times$ 1.8= Rs 1,08,000

Current Ratio=2.7:1

Then current Assets= 60,000 $\times$ 2.7= Rs 1,62,000

Stock= Current Assets- Liquid Assets

=Rs 1,62,000- Rs 1,08,000

= Rs 54,000

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Quick ratio is 1.8 : 1, current ratio is 2.7 : 1 and current liabilities are Rs 60,000. Determine value of stock.

The correct option is A Rs 54,000 Quick ratio= 1.8:1 It means if current liabilities are Rs 60,000, then liquid assets = 60,000 × 1.8= Rs 1,08,000 Current Ratio=2.7:1 Then current Assets= 60,000 × 2.7= Rs 1,62,000 Stock= Current Assets- Liquid Assets =Rs 1,62,000- Rs 1,08,000 = Rs 54,000