Accounting · Banking Company Final Accounts
Universal Commercial Bank is finalizing its accounts for the year ended March 31, 2025. During the year, the bank sold an old office building for Rs. 8,00,000 which had a book value of Rs. 5,00,000. In which schedule of the final accounts should the profit on the sale of this building be correctly recorded?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Schedule 2 under Reserves and Surplus
- 2Schedule 16 under Operating Expenses
- 3Schedule 14 under Other Income✓
- 4Schedule 13 under Interest Earned
Correct answer
Schedule 14 under Other Income
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking Company Final Accounts MCQs →Want more practice questions on Banking Company Final Accounts?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Banking Company Final Accounts