Self-test George opened a suspense account so that he could prepare the trading and profit and loss account. He showed a net profit of £6,920.

Subsequent to the above, the following errors were discovered:

(i) Wages were debited with £636. This was an amount paid for machine installation.

(ii) Sales of £910 had been entered in both the sales day book and debtors’

account as £190.

(iii) The discount total of £313 on the debit side of the cash book was entered as discount received.

(iv) Closing stock was understated by £700.

Show the effect of each of the above errors on the net profit.