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Q51082a From the following information given calculate 1) Quick Assets 2) Quick Liabilities and 3) Quick Ratio.

Particulars Amt Particulars Amt
Cash
Debtors
Creditors
Prepaid Expenses
Bills Receivable
5,000
10,000
5,000
2,000
8,000
Outstanding Salaries
Bank Overdraft
Stock
Bills Payable
1,000
2,000
3,000
4,000

Based on MIMB MBA Accounting Assignment Solution and others

Solution:

Quick Assets:-

Cash
Debtors
Bills Receivable
5,000
10,000      
8,000  
Total   23,000   

Quick Liabilities:-

Creditors
Outstanding Salary
Bills Payable
5,000
1,000      
4,000  
Total 10,000
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