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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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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