Question
The net profit as per cost accounts is ₹2,00,000, but
financial accounts show ₹1,80,000. Upon examination, over-absorption of overheads by ₹20,000 is identified. Which reconciliation adjustment is correct?Solution
Over-absorption of overheads inflates cost profits. Hence, to reconcile with financial accounts, ₹20,000 should be deducted.
More Accounts Questions
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
22.22 × 8.99 + 142.15 = ?
(10.013 – 12.04) = ? + 7.98% of 4999.98
960.11 ÷ 23.98 × 5.14 – 177.9 = √?
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
90.004% of 9500 + 362 = ?
(4096)1/3 × 10.11 × 11.97 ÷ 24.32 = ? + 15.022
20.22% of (61.9 × 5.01) + 69.97 =?
The base of a prism is an equilateral triangle with a perimeter of 36 cm. If the height of the prism is 12 cm, calculate the volu...
(1560.23 ÷ 25.98) + (768.32 ÷ 23.9) + 1814.11 = ?
