• •ABC Corp found that an extra capital of $42,000 paid into the bank had been credited to Sales.
  •Goods taken for own use worth $3,400 had been debited to General Expenses.
  •Private insurance of $190 had been debited to the Insurance account.
  •A purchase of goods from R. Wilson for $1,240 was entered in the books as $1,140.
  •Cash banked of $1,340 was credited to the bank column and debited to the cash column in the cash book.
  •Cash drawings of $1,360 had been credited to the bank column of the cash book.
  •Returns inwards of $740 from M. Taylor had been entered in error in K. Brown’s account.
  •A sale of equipment for $5,400 had been credited to Motor Expenses.
  Requirement: Prepare the necessary journal entries and evaluate the impact on the financial position.