Case - 5: Gulf Greetings is a holding company based in Dubai has started its operations in Oman in January 1, 2020. It has 2 branches in Oman - Muscat and Ibra. The bookkeeper of the Ibra branch has caused the following errors in the books of the branch. i. Sale of plant for OMR 20,000 on credit has not been recorded. ii. Depreciation Account was undercast by OMR 20. ii. Investment made in Government bonds for OMR 10,000 is posted in the debit side of Investment in Government Bonds Account as OMR 1,000. iv. An amount of OMR 300 credit balance in Sales Revenue Account is wrongly carried forward to the next page as OMR 300 Dr. OMR 1,250 paid for advertisement expenses is recorded as OMR 1,205 in the journal. vi. Cash purchase of machinery OMR 3,500 is debited in Cash Account OMR 3,500 and credited in Machinery Account OMR 3,500. vii. Expenditure on erection of a new machinery purchased OMR 2,000 is debited in Repair Expense Account OMR 2,000. viii. Purchase of merchandise OMR 600 is posted in the debit side of Sales Account. ix. An error of OMR 100 overcast in Purchase Returns Account is counterbalanced by another error of OMR 100 overcast in Sales Returns Account. Salary expense of OMR 1,000 is wrongly recorded as drawings by the owner. V. Question - 5: a. For each of the above errors, you are required to; i. Identify the type of error and ii. Rectify the errors. b. Will the following errors affect the profitability of a company? Explain. i. Error of Complete Omission ii. Compensating Error iii. Error of Duplication (2 Marks)