• •XYZ Corp found that an extra capital of $23,000 paid into the bank had been credited to Sales.
  •Goods taken for own use worth $2,000 had been debited to General Expenses.
  •Private insurance of $150 had been debited to the Insurance account.
  •A purchase of goods from C. Evans for $1,080 was entered in the books as $980.
  •Cash banked of $670 was credited to the bank column and debited to the cash column in the cash book.
  •Cash drawings of $830 had been credited to the bank column of the cash book.
  •Returns inwards of $410 from D. Moore had been entered in error in H. Taylor’s account.
  •A sale of equipment for $3,500 had been credited to Motor Expenses.
  Requirement: Prepare the necessary journal entries and assess the impact on the statement of financial position.