Prepare a Reconciliation Account from the following details: Profit as per cost accounts were of Rs. 59,700

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Prepare a Reconciliation Account from the following details:

Profit as per cost accounts were of Rs. 59,700 while the profits as per financial accounts were of Rs. 60,000. The values of opening and closing stock as shown in cost accounts and financial accounts were as under:

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Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

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Question Posted: Sep 07, 2023 12:50 PM

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Prepare a Reconciliation Account from the following details: Profit as per cost accounts were of Rs. 59,700

Question:

Raw materials: Opening Closing W.I.P Opening Closing Financial A/cs 25,000 30,000 16,000 20,000 Cost A/cs 25,300 29,600 15,500 19,900

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Dr Particulars To undervaluation of WIP in cost books To profit as per ...View the full answer

Cost Accounting

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