The balance of property at cost has been RS 20,000 and Rs 17,000 in 2013 and 2014
Fantastic news! We've Found the answer you've been seeking!
Question:
The balance of property at cost has been RS 20,000 and Rs 17,000 in 2013 and 2014 respectively. The profit on sale of property of Rs 2000 is credited to Capital Reserves Account. New property costing Rs 5000 bought in 2014. Determine sale of proceeds from land.
a) Rs 3000
b) Rs 10,000
c) Rs 7000
d) Rs 15,000
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date: