A 4 Share + + 142% = 9:09 AM 8/25/2020 - 2 Sign in IC Equation 2 Symbol Symbols D()) AE OE 4 - 6 Text text Header- Page Number Footer Header & Footer Tell me what you want to do Comment Comments Cl. Cross-reference Links Link Format 0 10. Mensah Afrani made a net loss of 97,00 during the year to December, 1993. was later discovered that , the following errors accounted for the loss, 1. Opening stock was over valued by $30,000. i. Wages and salaries owing of 11,000 was not taken into account. ii. General expenses was overcast by 24,000. iv. A credit sale of 65,700 was only entered in the sales ledger. V. A cash purchase of 60,000 was entered as 80,000 in the purchases account. vi. Rent received of 5,000 was credited to the rent account as 50,000). vii. A payment of 110,000 to a supplier was not entered in the books. vii. An insurance premium of $12,000 paid by cash was entered in the insurance account only. ou are required to: (a). State the effect of each one of these errors on the reported Net loss. (6). Prepare a statement to show the correct Net profit or loss after taking all the information in (i) to (ii) into account (WAEC GCE Nov. 1994 (Adapted Bookmark Picture Tools Help Online Video Media View W Review My Add-ins - Wikipedia Add-ins Get Add-ins accting - Word Mailings 213 References Shapes + Screenshot Layout SmartArt Design Illustrations Pictures Chart Insert LE Table ables Home Page 1 of 8 O words Search Windows Cover Page Blank Page Page Break Pages 5 File 1