My question is

1) The trial balance of John Trading, dated 31 December 2006, failed to agree an excess of debit over credit balance of RM2724. This amount was entered in suspense account and despite this difference, the final accounts were prepared. This resulted in a profit of RM15000 being calculated.

Subsequently the following errors were found in the books:

I) Discount allowed for the month of October that totaled RM428 had incorrectly been posted as discount received.

ii) A sale in credit of new to Nick for RM324 had been entered in her account as RM243 and had been included in the sales account at this amount.

iii) The purchase of new equipment of RM2400 for the use in the office had been posted to the purchase account.

iv) A payment of RM2186, received from Simon had been posted in error to the account of Nick and on the wrong side of this account.

v) Cash purchase of RM2800 had been entered in the cash book correctly, but had been entered in the purchase account as RM2008.

vi) No adjustment had been made to the amount of rated, RM3200 which had been paid for the half year to 31 March 2007.


Required:
a) Show the journal entries to correct the errors.
b) Calculate the correct profit for the period.


For who are concern,I hope that your guys can help me dissolve my question. Thanks. :)

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As for that initial error, you can't correct it without knowing why the debits & credits were off to begin with. Something caused that and should have been corrected. The only way to do it is to know what caused it.

As for the rest, the easiest way to correct errors is by reversing out the error in entry, and then recording the correct one. But you need to make some kind of attempt at doing your own work first -- we don't just do your homework for you.