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Home / Doubts and Solutions/CBSE/Class 12 Commerce/Accountancy

The Quick ratio of X Ltd. is 1.2: 1. What will be the effect of the following transaction on Quick Ratio?
(Increase/decrease or not change the Quick Ratio)
Purchased goods worth ₹40,000 and accepted a bill of exchange for two months

Asked by gv6164858 5th February 2023, 5:24 PM
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A Company purchased a machine costing ? 60,000 on 30th June, 2017. It further purchased machinery costing 40,000 on 1 April, 2018. It purchased another machine of 30,000 on 30th June, 2018. On 1.4.2019 the company sold 1/5th of the machinery (purchased on 30.6.2017) at ? 2000 and 2/3rds of the machiner purchased on 1 April, 2018 was sold for 10,000. Rate of depreciation is 10% p.a. under diminishin balance method. Company closes its accounts on 31* March every year. Prepare necessary ledger accounts for the period from 1.4.2017 to 31.3.2020.
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