(i)During December the company sold equipment that was no longer required, but no aspect of this transaction has been entered into the accounting records. The equipment cost 350,000 in 2013 and was sold on credit for 205,000. The companys depreciation policy in respect of this class of asset is to charge depreciation on a straight-line basis over five years, assuming a zero scrap value, a full years depreciation being charged in the year of acquisition but none in the year of disposal. Correctly, no depreciation for 2016 was recorded for the equipment disposed of in December.

(ii)An invoice for the amount of 18,000 received in early January relating to maintenance services provided to the company in December has not been processed.

(iii)The administrative expenses include a payment of 24,000 for an insurance policy which covers the period 1st April 2016 to 31st March 2017.

(iv)A small batch of invoices has been discovered for sales transactions on credit which occurred late on 31st December but which were not processed into the accounting records. The total value of these transactions is 12,800.

(v)A review of the records from the stock take held on 31st December 2016 has revealed errors which mean that the company had inventory of 1,380,000 in total, rather than 1,460,000 as shown in the trial balance. The errors do not relate to inventory lines involved in the sales referred to in (iv) above.

prepare accounting records to show the effect of information and state their overall effect on the amount that would be shown for owners' equity.