The profit as per cost accounts in 1987 was Rs 1,65,300. The following details are ascertained on comparison of the cost and financial accounts:
|
Particulars |
Cost books Rs |
Financial books Rs |
|
|
(a) |
Opening stocks |
||
|
Materials |
32600 |
33,000 |
|
|
Work in progress |
20,000 |
21,000 |
|
|
(b) |
Closing stocks |
||
|
Materials |
36,000 |
34,400 |
|
|
Work in progress |
16,000 |
15,200 |
|
|
Finished goods |
8,000 |
9,000 |
|
|
(c) |
Directorsifees |
1,000 |
|
|
Interest paid |
800 |
||
|
Reserve for bad debts |
SOO |
||
|
Transfer fees received |
300 |
||
|
Dividends received |
200 |
||
|
(d) |
Rent charged on own premises |
6,000 |
|
|
(e) |
Preliminary expenses written off |
13,000 |
|
|
(f) |
Overheads |
1,26,200 |
1,21,200 |
You are required to draw a reconciliation statement.