Old mathjax webview Mustration 3. Preparation of memorandum reconciliation account A manufacturing company disclosed a net loss of 73,47,000 as per their cost accounts for the year ended March 31, 2003. The financial accounts however, disclosed a net loss of 5,10,000 for the same period. The following information was revealed as a result of scrutiny of the figures of both the sets of accounts: Factory Overheads under-absorbed 40,000 Administration Overheads Over-absorbed 60,000 Depreciation Charged in Financial Accounts 3,25,000 Depreciation Charged in Cost Accounts 2,75,000 Interest on Investments not included in Cost Accounts 96,000 Income tax Provided 54,000 Interest on Loan Funds in Financial Accounts 2,45,000 Transfer Fees (Credit in Financial Books) 24,000 Stores Adjustment (Credit in Financial Books) 14,000 Dividend Received 32,000 Prepare a Memorandum Reconciliation Account