Question: please answer all the Required a. On 31st December 2017 Omega extracted a trial balance and found that it did not balance. The debit column

please answer all the Required
please answer all the Required a. On 31st December 2017 Omega extracted

a. On 31st December 2017 Omega extracted a trial balance and found that it did not balance. The debit column totaled $510,450, and the credit columns totaled $505,021. Omega entered the difference in suspense account. Upon investigation he found that the following errors had been made. (i) A purchase for cash of $750 had been correctly entered into the cash account but had not been entered into the purchase account. Discount received of $375 had been posted to the debit side of the discounts received account. (iii) A purchase of goods for sale of $15,750 paid in cash had been entered in the purchase account as $18,750. (iv) The sales returns day book had been under cast by $1,200. (v) The sales day book had been overcast by $1,500. (vi) Interest received for the year of $2,625. Had been entered as a debit entry in the interest payable account. (vii) Telephone expenses of $258 paid by cheque had been posted to the debit side of the telephone expense account as $285. Required: 1. Identify the types of errors-> unit's y Sessionu 2. State the effect of each error on Omega's Profit for the period. (15 Marks)

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