Hi,

I help some help to answer the questions.

I would also like to have an explanation for a better understanding of the concepts.

can you please help ?

The balance of Artemis' sales ledger control account on 31 July 2023 was $39130. On that same date, the list of balances contained in the sales ledger amounted to $36750. After investigation the following errors were found. 1. A credit sale of $3050 had been made to Glles but no entries had been made to record this transaction. 2. The discount allowed total in the cash book had been undercast by $370. 3. A sales return of $600 from Bethy was correctly recorded in the sales ledger but had been omitted from the total of the retum inwards journal. 4. A cheque received in June from Francis for $1840 had been dishonoured. No entries have been made to record this dishonoured cheque. 5. A credi sale of $1500 to Harry was correctly recorded in the sales joumal but no entry had been made in the sales ledger. 6. The saies recorded in the control account had been overcast by $250. 7. A receipt from a credit customer of $340 had been omitted from the list of balances. REQUIRED: a) Prepare a corrected sales ledger control account. b) Prepare a statement amending the total of the sales ledger batances to reconcile it with the control account balance. c) State three errors which will not be detected when preparing control accounts. [15 marks] Artemis also provided the following information on 1 August 2022: Additional information: On 1 December 2022. Artemis bought new equipment costing $10000 by cheque. On 15 February 2023, he sold old equipment for $15000 cash. The old equipment was bought on 3 September 2020 for $18000. Artemis charges depreciation at the rate of 10% per annum using the straight line method. Full year depreciation is charged in the year of purchase and none in the year of disposal. REQUIRED: d) State one cause of depreciation for equipment. e) Prepare the following ledger accounts for the year ended 31 July 2023: (i) Equipment (at cost) account (ii) Provision for depreciation of equipment account (ii) Equipment disposal account f) Explain, by making reference to two accounting principles, why depreciation is charged on noncurrent assets