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1.1. The cash book of ABC shows an overdraft of K13,000 at 30 June 2017. It is subsequently discovered that a standing order receipt of K900 has been entered twice and that a dishonoured cheque for K1,200 has been debited in the cash book instead of being credited. What should be the correct balance as per cash book when the errors are corrected? A. K13,900 overdrawn B. K14,500 overdrawn C. K16,300 overdrawn D. K17,200 overdrawn (2 marks) 1.2. Which of the following is the main purpose of financial accounting? A. To prepare the profit and loss account B. To record financial transactions C. To provide useful information to users of financial accounts D. To prepare statement of financial accounting 1.3. Which of the following would not be expected to be recorded in the statement of changes in equity? A. Bonus shares issued during the year. B. Rights issue made during the year C. Ordinary dividends declared before the end of the year but paid the following year D. Ordinary dividends declared and paid after the year end. 2 marks) 1.4. BMX Company had receivables of K8,000 at 1 April 2016 and K5,600 at 31 March 2017. Irrecoverable debts of K2,000 were written off during the year and credit customers paid K7,500. Given that credit customers had been allowed 10% trade discounts, how much were the credit sales for the year under review? A. K3,100 B. K7,810 C. K7,100 D. K2,400 (2 marks) 1.5. Miami's accounting records contain the following errors: (i) A cash purchase of K870 was recorded correctly in the purchases account but was entered on the wrong side of the cash account as K780. (ii) The depreciation charge for the year K400 was correctly entered in the depreciation expense account but was recorded on the wrong side of the accumulated depreciation account. What will be the balance on the suspense account as a result of these errors? A. K90 debit B. K2,450 credit C. K2,450 debit D. K90 credit (2 marks) 1.6. Mika's business has non-current assets with a carrying value of K450,000. An asset which had cost K200,000 was sold for K150,000 at a loss of K35,000. This has not yet been adjusted for from the accounting records. How much will the carrying amount of non-current assets be after adjustment for the disposal