4. Which one of the following statements is correct?

A posting to the debit side of a ledger account will, where applicable, always have the effect of

(1) a decrease in the balance of an asset account.

(2) an increase in the balance of a liability account.

(3) a decrease in the amount of a nominal account.

(4) a decrease in the amount of an expense account.

(5) a decrease in the amount of an income account.

5. Which one of the following statements is correct?

(1) Errors made by the bank are corrected in the cash journals.

(2) A deposit made directly to the bank that appears on the bank statement should be included as a reconciling item in the bank reconciliation statement.

(3) Errors made by the entity should appear as reconciling items in the bank reconciliation statement.

(4) A credit balance in the bank statement and a debit balance in the entitys bank account in the ledger show a favourable bank balance.

(5) Both (1) and (3) above.