Errors are …………… using journal entries.

The journal is a kind of book of prime entry.

An error overstating an expense item would also overstate the net profit.

An error understating an income item would also understate capital.

Errors of original entry happen when the entries have been made with the amount being entered wrongly in one account.

Errors in figures in the trading and profit and loss account will affect the calculation of profits.

Closing stock appears ………in the final accounts.

The value closing stock has got an effect on the profit for the period.

In the balance sheet, the net profit is added to capital.

Drawings might also take the …….of goods for private use

Drawings can be in the form of business facilities.

If drawings is in the form of goods, it is necessary to show a……….from purchases in the trading caccount.