opening balence 250000, closing balance 140000, profit on sale of building 30000 calculate cash flow from following information of building account
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Sale of building - 1,40,000. The amount of profit will be shown in debit side of building account.
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Opening stock 30,000
Closing stock 25,000
Opening creditors 50,000
Closing debtors 75,000
Discount allowed by creditors 1,500
Discount allowed to customers 2,500
Cash paid to creditors 1,35,000
Bills payable accepted during the period 30,000
Bills receivable received during the period 75,000
Cash received from customers 2,20,000
Bill receivable dishonored 3,500
Purchases 2,95,000
The rate of gross profit is 25% on selling price and out of the total sales Rs85,000 was for cash sales
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