Numerical on funds flow statements

Q.  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.
- Published on 14 Sep 15

a. Rs 3000
b. Rs 10,000
c. Rs 7000
d. Rs 15,000

ANSWER: Rs 10,000

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    Discussion

  • Nagaraj Naik   -Posted on 19 Aug 21
    20000(opening n)+5000( purchase)-17000( closing)
    =8000
    8000+ 2000( profit)= 10000

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