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Question 1 a) A businessman who wants to take advantage of the One District One Factory initiative has approached you to assist him with the following accounting issues. i) State TWO objectives of nancial statements ii) Explain the accrual and the going concern concepts iii) State FOUR duties of directors of a company b) The trial balance drawn up for the year ended 31 December 2019 for GOD IS ALIVE Ltd failed to agree with a difference of GH 7,200. The difference was credited to the suspense account pending investigations. During 2019 the following errors were identied. 1) GH 10,000 received from sale of an old machinery has been entered in the sales account 2) Purchases daybook has been overstated by GH 16,000. 3) A private purchase by the director amounting to GH 12,000 has been included in the purchases of the company. 4) Bank charges of GH 4,800 in the cash book have not been posted to the bank charges account. 5) Sale of goods to Ko amounting to GH 69,000 was correctly entered in the sales daybook but entered in the personal account as GH 96,000. 6) The draft account for the year ended for GOD IS ALIVE Ltd showed a net prot of GH 145,000. 7) Discount received of GH 4,500 have been posted to the debit side of discount allowed account. 8) Wages of GH 40,000 paid has not been posted from the cash book. 9) Stationery amounting to GH 24,000 has not been accounted for in the books of GOD IS ALIVE Ltd. R_equired i) Show the journal entries to correct the errors ii) Write up the suspense account to eliminate the errors iii) Prepare a statement to show the revised prot