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A firm had current assets of …

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A firm had current assets of 410000. It then paid trade payables or 30000 . After this payment, the current ratio was2.4:1. Find out current liability and working capital after the payment.

Posted by Amit Mehta 3 years, 4 months ago

CBSE > Class 12 > Accountancy

1 answers

Gaurav Seth 3 years, 4 months ago

Current assets =4,10,000
Current assets after payment of 50,000 : 4,10,000 - 30,000(Cash Given) = Rs3,80,000 .
As current ratio 2.4 and current assets are Rs 3,80,000
Current Ratio = Current Assets/Current liabilities
Therefore, Current liabilities =3,80,000/2.4 = 158333
Working capital = current assets - current liabilities = 3,80,000 - 1,58,333 = Rs 221667

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