You have extracted a trial balance and drawn up accounts for the year ended 31 December 2014. There was a shortage of £78 on the credit side of the trial balance, a suspense account being opened for that amount.

During 2015 the following errors made in 2014 were found:

(1) £125 received from sales of old office equipment has been entered in the sales account.

(2) Purchases day book had been overcast by £10.

(3) A private purchase of £140 had been included in the business purchases.
(4) Bank charges £22 entered in the cash book have not been posted to the bank charges account, (5) A sale of goods to K. Lamb £230 was correctly entered in the sales book but entered in the personal account as £320.

Required:

(a) Show the requisite journal entries to correct the errors.

(b) Write up the suspense account showing the correction of the errors.

(c) The net profit originally calculated for 2014 was £28,400. Show your calculation of the correct figure.