Gain More Ltd. showed a net loss of Rs. 6,30,000 as per the financial accounts for the
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Gain More Ltd. showed a net loss of Rs. 6,30,000 as per the financial accounts for the year ended 31st March, 2004. The cost accounts however disclosed a loss of Rs. 5,00,000 for the same period. On scrutiny of the two accounts the following are available:
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Factory overheads under-recovered Administration overheads over-recovered Depreciation charged to financial accounts Depreciation charged in cost accounts Interest on investment not included in cost accounts Income Tax provided in financial accounts Stores adjustments (credit in financial accounts) Prepare a Memorandum Reconciliation Account. Rs. 70,000 30,000 1,50,000 1,20,000 30,000 1,00,000 10,000
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