Homework Answers
Solution:-
Formula for quick ratio:- Quick Assets
_____________________
Current Liability
Working for 2017:
Quick Assets = Cash and cash Equivalents+Short Term Investment+ Net Receivable
=7,6,63,000 + 125,318,000+19,792,000
=1,5,27,73,000
Current Liabilities= 6,45,27,000
Quick Ratio= 15,27,73,000 / 6,45,27,000
=2.37
Working For 2016:
Quick Assets = Cash and cash Equivalents+Short Term Investment+ Net Receivable
= 6,510,000+ 106, 730,000+18,277,000
=1,31,517,000
Current Liability= 59,357,000
Quick Ratio=1,31,517,000 / 59,357,000
=2.21
Working For 2015:
Quick Assets = Cash and cash Equivalents+Short Term Investment+ Net Receivable
=5,595,000+ 90,931,000+17,908,000
= 1,14,434,000
Current Liability= 49,647,000
Quick Ratio= 1,14,434,000 / 49,647,000
= 2.30
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