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
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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
1,72,400
3,120
1,700
11,200
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
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
Value of closing stock in:
cost accounts
52,000
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
Transcribed Image Text: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 1,72,400 3,120 1,700 11,200 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 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 Value of closing stock in: cost accounts 52,000 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
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