Management Accounting Test Questions

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.

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

ANSWER: See Answer
No explanation is available for this question!