Ascertain the figures (amount) in the profit and loss account by preparing memorandum reconciliation account:
|
Profit as per cost books |
3,00,600 |
|
Factory overheads under-recovered in cost books |
8,000 |
|
Office overheads over-recovered in financial books |
3,000 |
|
Depreciation shown excess in cost books |
1,900 |
|
Interest on investments |
990 |
|
Receipt of income from share transfer |
240 |
|
Provision made for income tax |
97,000 |