If any can *** help.I mam having a hard time figuring out how to go about solving this question.
A company keeps two sets of books.
Financial accounts
$
Net income 250200
Administrative 4600
Sales commission received 1200
Dividends received 1400
Valuation of inventories
:opening 240000
:closing 250000

[I]Cost accounts books[/I]
Administrative cost 5000
Selling costs 9000
Valuation of inventories
:opening 236000
:closing 248000

To reconcile question I did it this way.
DEPARTMENTS
Finance Cost a/c Diff. Total
Net income 252000
Add Manufacturing overheads 9000 9000 9000
Sales commission 1200 1200 1200
Dividends 1400 1400 1400
Closing inventory 250000 248000 2000 2000
265600
Deduct Opening inventory 240000 236000 4000 4000
Net income in cost account 261600