give answer of this qus....
This query is : Resolved
29 June 2010
STOCK TURNOVER 5 TIMES
sales RS. 720000
GP ratio 25%
Current Liablities RS. 240000
Liquid Ratio 1.25
closing stock RS. 30000 more than opening stock
CALCULATE TOTAL CURRENT Assets????????
sales RS. 720000
GP ratio 25%
Current Liablities RS. 240000
Liquid Ratio 1.25
closing stock RS. 30000 more than opening stock
CALCULATE TOTAL CURRENT Assets????????
29 June 2010
stock turnover 5 times means average stock is 1/5 the sales
So avg st = 720000 / 5 = 144,000
Increase in cl stock by Rs. 30,000/-
So op st = 129,000, cl st = 159,000/-
Liquid ratio = 1.25
so liquid current assets = 240,000 * 1.25 = 300000
current assets = 300000 + 159000 stock
= 459000
So avg st = 720000 / 5 = 144,000
Increase in cl stock by Rs. 30,000/-
So op st = 129,000, cl st = 159,000/-
Liquid ratio = 1.25
so liquid current assets = 240,000 * 1.25 = 300000
current assets = 300000 + 159000 stock
= 459000
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