Old mathjax webview Mustration 5. The profit as per Cost Accounts is 71,65,300. The following details are ascertained on comparison of the Cost and Financial Accounts. Cost Accounts Financial Accounts () Opening Stock: Materials 32,600 33,000 Work-in-Progress 20,000 21,000 (b) Closing Stock: Materials 36,000 34,400 Work-in-Progress 16,000 15,200 Finished Goods 8,000 9,000 (c) Director's fees paid 1,000; Interest paid 800, Reserve for Bad debts 500; Transfer fees collected 2300 and Dividend Received 200 are exclusively taken in Financial Accounts, but ignored in Cost Accounts (d) Rent charged 6,000 in Costing but not in Financial Accounts. (e) Preliminary expenses written off * 13,000, but not charged in costing. (0 ) Overhead charged in Financial Books 1,21,200, but recovered in Costing * 1,26,200. Find out profit as per Financial Accounts and draw up a Reconciliation Statement