Question

8. Prepare a reconciliation statement from the following figures and ascertain the profits as per
financial books :
Loss as per cost accounts 50,000; Under-valuation of closing stock in cost accounts
25,000 Preliminary expenses written-off in financial books 10,000; Profit on sale of furniture
recorded in financial books only 6,000; Interest on bank loan 26,075; Factory overheads
over-absorbed 11,075.
ial Books 24 0001​

Answer 1

Answer:

Loss as per cost accounts 50,000; Under-valuation of closing ... 25,000 Preliminary expenses written-off in financial books ... ·