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the cost accountant of the company has ascertained a profit of rs 19 636 as per his 649264

From the following Profit and Loss A/c, prepare a Memorandum Reconciliation Account, showing the profit as per the Cost Accounts.

 

Profit And Loss A/c

 

Debit

 

Credit

Particulars

Amount – Rs.

Particulars

Amount – Rs.

To office salaries

11, 282

By gross profit

54, 648

To office expenses

6, 514

By dividends received

400

To salesmen’s salaries

4, 922

By interest received

150

To sales expenses

9, 304

 

 

To distribution expenses

2, 990

 

 

To loss on sale of machinery

1, 950

 

 

To fines

200

 

 

To discount on debentures

100

 

 

To net profit

17, 936

 

 

Total

55, 198

Total

55, 198

To income tax

8, 000

By net profit

17, 936

To reserve

1, 000

 

 

To dividend

4, 000

 

 

To balance c/d

4, 936

 

 

Total

17, 936

Total

17, 936

The Cost Accountant of the company has ascertained a profit of Rs.19, 636 as per his books.

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