• •UVW Ltd found that an extra capital of $16,000 paid into the bank had been credited to Sales.
  •Goods taken for own use worth $1,150 had been debited to General Expenses.
  •Private insurance of $130 had been debited to the Insurance account.
  •A purchase of goods from Y. Clark for $950 was entered in the books as $850.
  •Cash banked of $380 was credited to the bank column and debited to the cash column in the cash book.
  •Cash drawings of $540 had been credited to the bank column of the cash book.
  •Returns inwards of $200 from G. Allen had been entered in error in B. Johnson’s account.
  •A sale of equipment for $2,300 had been credited to Motor Expenses.
  Requirement: Write the correcting journal entries and describe the impact on the owner's equity.