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
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
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
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