•STU Corp found that an extra capital of $23,000 paid into the bank had been credited to Sales.
•Goods taken for own use worth $2,250 had been debited to General Expenses.
•Private insurance of $155 had been debited to the Insurance account.
•A purchase of goods from M. Martin for $1,120 was entered in the books as $1,020.
•Cash banked of $900 was credited to the bank column and debited to the cash column in the cash book.
•Cash drawings of $1,040 had been credited to the bank column of the cash book.
•Returns inwards of $490 from T. Harris had been entered in error in R. Wood’s account.
•A sale of equipment for $4,100 had been credited to Motor Expenses.
Requirement: Prepare the necessary journal entries and evaluate the impact on the financial position.