Trial Balance Three Marks Questions

11th Standard

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Accountancy

Time : 00:45:00 Hrs
Total Marks : 30
    10 x 3 = 30
  1. What are the objectives of preparing trial balance?

  2. What are the limitations of trial balance?

  3. 'A trial balance is only a prima facie evidence of the arithmetical accuracy of records'. Do you agree with this statement? Give reasons.

  4. From the following balances extracted from the books of Mr Kannan at trader on automobiles, prepare trial balance as on 3Pt March 2017.

       Rs    Rs
     Cash ih hand   5,500   Direct expenses   5,000
     Discount received   300   Carriage outwards 3,500
     Creditors  15,000   Capital  45,000
     Buildings 50,000   Purchases 49,700
     Opening stock 6,000   Sales 59,000
  5. From the following balances extracted from the books of Mrs. Umashankar a trader, prepare trial balance as on 31.03.2015.

       Rs     Rs
     Capital     44,000   Interested on investment    2,000
     Bills receivable   5,000   Customs duty 3,000
     Wages 800   Computer   20,000
     Drawings 4,000   Sales 72,000
     Purchases 75,000   Opening stock 10,200
  6. The following trial balance has certain errors. Redraft it.

     S.No   Name of account   L.F   Debit balance 
    Rs
     Credit balance 
    Rs
    1  Building   60,000  
    2  Machinery   17,000  
    3  Returns outward   2,600  
    4  Bad debts   2,000  
    5  Cash   400  
    6  Discount received     3,000  
    7  Bank overdraft   10,000  
    8  Creditors   50,000  
    9  Purchases   1,00,000  
    10  Capital     72,800
    11  Fixtures     5,600
    12  Sales     1,04,000
    13  Debtors     60,000
    14  Interest received     2,600
       Total   2,45,000 2,45,000
  7. The following balances are extracted from the books of Murali, as on 31st March, 2017. Prepare trial balance.

    Particulars Rs Particulars Rs
    Sales 35,000 Audit fees 1,000
    Interest paid 350 Octroi duty 8,000
    Returns inward 2,500 Land 90,000
    Depreciation 2,400 Capital 60,000
    Office rent 2,000 Bank overdraft 11,250
  8. Explain the need for preparing trial balance.

  9. Explain the features of trial balance.

  10. What is Suspense Account? When is it opened?

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