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PLEASE HELP!! Further investigation revealed the following errors: (1) A cheque of $160 paid to TG Arthur had been entered on the correct side of
PLEASE HELP!!
Further investigation revealed the following errors: (1) A cheque of $160 paid to TG Arthur had been entered on the correct side of the bank account but omitted from his pergonal account. (2) An item of office equipment having, a book value of 6350 had been sold for 8280 and this amount had been credited to the sales account and debited to the bank account. (3) An item of office machinery purchased for $1450had been written off against repairs. (4) The purchases day book had been undercast by 8280 . (5) A sale of goods worth $550 to M Linner had been correctly entered in the sales account but had been credited to his personal account. (6) The rent account had been overcast by 670 . (7) A sale on credit of $59 to T Jones had been entered on the correct sides of the sales account and Jones's personal account as $95. (a) Ahew Jecuron entho. You are required to: (b) write up the suspense account eliminating the balance there on; (C) prepare a statement showing the correct net profit; (d) prepare a new balance sheet after correcting the items above Step by Step Solution
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