The land account was debited by ₹60,00,000 and credited by ₹25,00,000 during the current year. The income statement reported a profit on sale of land in the amount of ₹2,00,000. All transactions related to land account w
CS Executive · Corporate and Management Accounting · PYQS · December 2021
The land account was debited by ₹60,00,000 and credited by ₹25,00,000 during the current year. The income statement reported a profit on sale of land in the amount of ₹2,00,000. All transactions related to land account were cash transactions. These transactions would be shown in the statement of cash flow as:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Cash Flow Statement
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