The profits shown in financial accounts was Rs. 1,12,870 and for the same period the cost accounts showed a profit of Rs. 27,040. Examination of the accounts showed the following differences: Cost a/c's Financial a/c's Depreciation Stock valuations3; Opening stocks 2,75,100 Closing stocks Profit on sale Of asset Dividend received Imputed rent Reconcile the profit figures. 98,260 1,05,200 2,55,000 1,87,500 1,82,180 8,500 26,350 32,500 ---
The profits shown in financial accounts was Rs. 1,12,870 and for the same period the cost accounts showed a profit of Rs. 27,040. Examination of the accounts showed the following differences: Cost a/c's Financial a/c's Depreciation Stock valuations3; Opening stocks 2,75,100 Closing stocks Profit on sale Of asset Dividend received Imputed rent Reconcile the profit figures. 98,260 1,05,200 2,55,000 1,87,500 1,82,180 8,500 26,350 32,500 ---
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Power consumption of the machine is 20 units per hour and the rate of power per 100
units is Rs.10.
The profits shown in financial accounts was Rs. 1,12,870 and for the same
period the cost accounts showed a profit of Rs. 27,040.
Examination of the accounts showed the following differences:
Cost a/c's
Financial a/c's
Depreciation
Stock valuations;
98,260
1,05,200
Opening stocks 2,75,100
Closing stocks
Profit on sale
Of asset
Dividend received
Imputed rent
Reconcile the profit figures.
2,55,000
1,87,500
1,82,180
8,500
26,350
32,500
//END//
3
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