QUESTION You have extracted a trial balance and drawn up accounts for the year ended 31 December 2021. There was a shortage of RM78 on the credit side of the trial balance, a suspense account being opened for that amount. During 2022 the following errors made in 2021 were found: i. RM125 received from the sales of old office equipment has been entered in the sales account ii. Purchases Journal had been overcast by RM10 iii. A private purchase of RM140 had been included in the business purchase iv. Bank charges of RM22 entered in the Cash Payments Journal have not been posted to the bank charges account v. A sale of goods to Ken Li of RM220 was correctly entered in the Sales Journal but entered in the Sales Ledger as RM310 Required a. Show the General Journal entries to correct the error b. Write up the suspense account showing the correction of the errors c. The net profit originally calculated for 2021 was RM28,400. Show your calculation of the correct figure. QUESTION You have extracted a trial balance and drawn up accounts for the year ended 31 December 2021. There was a shortage of RM78 on the credit side of the trial balance, a suspense account being opened for that amount. During 2022 the following errors made in 2021 were found: i. RM125 received from the sales of old office equipment has been entered in the sales account ii. Purchases Journal had been overcast by RM10 iii. A private purchase of RM140 had been included in the business purchase iv. Bank charges of RM22 entered in the Cash Payments Journal have not been posted to the bank charges account v. A sale of goods to Ken Li of RM220 was correctly entered in the Sales Journal but entered in the Sales Ledger as RM310 Required a. Show the General Journal entries to correct the error b. Write up the suspense account showing the correction of the errors c. The net profit originally calculated for 2021 was RM28,400. Show your calculation of the correct figure