give answer of this qus....

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CA Lokesh Pokharna (Querist)
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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????????

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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

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