Question - 15

From the following details of X and Co. calculate current ratio and quick ratio :

Goodwill Rs. 80,000, Land and Building Rs. 60,000, Stock Rs. 13,640, Sundry debtors Rs. 26,150, Cash Rs. 2,430, Prepaid Exp. Rs. 3,100 Bills receivable Rs. 1,130, paid income tax in advance Rs. 5,000, Sundry creditors Rs. 20,287, Bills payable Rs. 900, Bank overdraft Rs. 2,600, Provision for taxation Rs. 6,200, Proposed dividend Rs. 4,313, Reserve for deferred taxation Rs. 7,000.

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