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Financial/Principles of Accounting 2 Class Assignment The following errors were found in the books of Alexaboat Consult: a. Fixtures and Fittings purchases of GHC3,000 had been debited to the Purchases Account b. The total of Purchases daybook had been undercast by GHC1,000. c. Goods sold on credit to G. Danquah for GHC600 had been debited to G. Dankwah d. The discount column on the debit side of the cash book had been posted to the credit side of Discount Received Account, GHS300 e. Motor Van Repairs GHC760 had been taken to the Motor Van Account f. Depreciation of GHC700 on Machinery had been entirely left out. g. A cheque received from E Asamoah GHC390 had been debited in the Cashbook but the double entry had not been completed. h. The Returns Outwards book had been overcast by GHC500. i. The final inventory had been undervalued by GHC2,000 Required: 1. Show by means of journal entry how the above errors should be corrected in books of Alexaboat Consult 2. Clear the differences in books lodged in the Suspense Account. The amount is GHC1,710 3. If Net profit on the basis of incorrect figures was GHC5,000, calculate the true Net Profit Assignment One Osvansey Consult's Cash Book at January 31, 2021 showed an overdrawn position of GHS3,630 which did not match with their bank statement. Detailed examination of the two records revealed the following: (a) The debit side of the cash book had been undercast by GHS 300. (b) A cheque of GHS1,560 written for Kingdom Books Ltd., had been omitted by the bank from its statement (c) A lodgement of GHS1,080 on January 31, had not been credited by the bank. (d) Interest amounting to GHS228 had been debited by the bank but not entered in the cash book. Required: Reconcile the balance of the cash book and bank statement to the corrected bank balance of Osvansey Consult. Assignment Two Osvansey Consult's Cash Book at January 31, 2021 revealed a balance of GHS3,630 although their bank statement showed GHS5,352. Detailed examination of the two records revealed the following

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