What is the amount of current asset? (CAIIB Solved Questions)

Question: Debt Equity Ratio is 3:1,the amount of Total assets Rs.20 lac, Current ratio is 3:2 and owned funds Rs.3 lac. What is the amount of current asset?

Debt Equity Ratio = Long Term Sources / Net worth/Equity = 3:1
Net worth/Equity= Owned Fund = 3Lac
Hence Long Term Source = 3/1 × 3Lac = 9Lac
Accounting Equation State that Total Liabilities + Equity = Total Assets
Total Assets = 20 Lac (Given)
Total Liabilities = Current Liabilities + Long Term Sources
Hence, Current Liabilities + Long Term Sources + Equity = Total Assets
Current Liabilities + 9Lac + 3lac = 20 Lac
Current Liabilities = 8Lac
Current Ratio = Current Assets/Current Liabilities
Current Ratio = 3/2
Current Assets = 3/2 × Current Liabilities
Current Assets = 3/2 × 8 = 12Lac

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