Current Assets are assets that are expected to be converted into cash or consumed within one year or the normal operating cycle of the business.
From the given information, the following items are Current Assets:
- Inventories = Rs. 50,000
- Trade Receivables = Rs. 50,000
- Advance Tax = Rs. 4,000
- Cash and Cash Equivalents = Rs. 30,000
Note: Trade Payables (Rs. 1,00,000) and Bank Overdraft (Rs. 4,000) are Current Liabilities, not Current Assets.
Calculation of Total Current Assets:
Total Current Assets = Inventories + Trade Receivables + Advance Tax + Cash and Cash Equivalents
Total Current Assets = 50,000 + 50,000 + 4,000 + 30,000
Total Current Assets = Rs. 1,34,000
Therefore, Option 3 is correct.