70. The balance of property account at cost has been ₹20,000 and ₹17,000 in the year 2019 and 2020 respectively. The profit on sale of property ₹2000 is credited to Capital Reserves Account. New property costing ₹5000 bo
CS Executive · Cost and Management Accounting · PYQS · June 2021
70. The balance of property account at cost has been ₹20,000 and ₹17,000 in the year 2019 and 2020 respectively. The profit on sale of property ₹2000 is credited to Capital Reserves Account. New property costing ₹5000 bought in the year 2020. Calculate the sale proceeds received from sale of property.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Fund Flow Statement
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