Based on the below figures, what is the current ratio?
$\begin{array}{lr}
& £ \
\text { Trade payables } & 20,000 \
\text { Trade and other receivables } & 25,000 \
\text { Cash } & 9,000 \
\text { Taxation payable } & 10,000 \
\text { Current portion of long-term borrowings } & 6,000 \
\text { Inventory } & 18,000 \
\text { Non-current assets } & 60,000
\end{array}$

Question

Based on the below figures, what is the current ratio?
$\begin{array}{lr} 
& £ \
\text { Trade payables } & 20,000 \
\text { Trade and other receivables } & 25,000 \
\text { Cash } & 9,000 \
\text { Taxation payable } & 10,000 \
\text { Current portion of long-term borrowings } & 6,000 \
\text { Inventory } & 18,000 \
\text { Non-current assets } & 60,000
\end{array}$

Quizplus · Accepted Answer

Current assets = 25,000 + 9,000 + 6,000 = 40,000Current liabilities = 20,000 + 10,000 = 30,000Current ratio = 40,000 / 30,000 = 1.44:1

Based on the Below Figures, What Is the Current Ratio