From the following figures, prepare a Reconciliation Statement: Net loss as per costing records Work overheads under-recovered in costing Administrative overheads recovered in excess Depreciation charged in financial records Depreciation recovered in costing Interest received not included in costing Obsolescence (loss) charged in financial records Income-tax provided in financial books Bank interest credited in financial books 1,72,400 3,120 1,700 11,200 12,500 8,000 5,700 40,300 750 Stores adjustment (credit) in financial books Value of opening stock in: cost accounts 475 52,600 financial accounts 54,000 52,000 Value of closing stock in: cost accounts financial accounts 49,600 Interest charged in cost accounts but not in financial accounts Preliminary expenses writtwn off in financial accounts Provision for doubtful debts in financial accounts 6,000 800 150

From the following figures, prepare a Reconciliation Statement: Net loss as per costing records Work overheads under-recovered in costing Administrative overheads recovered in excess Depreciation charged in financial records Depreciation recovered in costing Interest received not included in costing Obsolescence (loss) charged in financial records Income-tax provided in financial books Bank interest credited in financial books 1,72,400 3,120 1,700 11,200 12,500 8,000 5,700 40,300 750 Stores adjustment (credit) in financial books Value of opening stock in: cost accounts 475 52,600 financial accounts 54,000 52,000 Value of closing stock in: cost accounts financial accounts 49,600 Interest charged in cost accounts but not in financial accounts Preliminary expenses writtwn off in financial accounts Provision for doubtful debts in financial accounts 6,000 800 150

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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