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The net profit as per financial account was Rs 42,000 of ABC Trading. On reconciliation, the following differences were noticed: Works overhead over recovered
The net profit as per financial account was Rs 42,000 of ABC Trading. On reconciliation, the following differences were noticed: Works overhead over recovered in cost account Rs 6,000 Interest charged in financial accounts Rs 4,000 Opening stock overvalued by financial accounts Rs 10,000 A profit of Rs 5,000 on sales of fixed assets was shown in financial account. Goodwill written off Rs 7,500 Required: Reconciliation between financial and cost account
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