Trial Balance Model Questions

11th Standard

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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50
    10 x 1 = 10
  1. While preparing the trial balance, the accountant finds that the total of the credit column is short by Rs.200. This difference will be

    (a)

    Debited to suspense account

    (b)

    Credited to suspense account

    (c)

    Adjusted to any of the debit balance

    (d)

    Adjusted to any of the credit balance

  2. A list which contains balances of accounts to know whether the debit and credit balances are matched is___

    (a)

    Journal

    (b)

    Day book

    (c)

    Trial balance

    (d)

    Balance sheet

  3. Trial balance is prepared:

    (a)

    At the end of the year

    (b)

    On a particular date

    (c)

    For a year

    (d)

    None of the above

  4. The preparation of ___________ is the third step in the accounting process.

    (a)

    journal

    (b)

    ledger

    (c)

    trial balance

    (d)

    balance sheet

  5. The trial balance helps in discovering errors which may have been committed in the __________.

    (a)

    accounting transactions

    (b)

    accounting standard

    (c)

    accountancy

    (d)

    accounting. records

  6. Trial balance is prepared to find out the_________

    (a)

    profit or loss

    (b)

    financial position

    (c)

    arithmetical accuracy of the accounts

  7. The preparation of trial balance is for___________

    (a)

    Locating errors of commission

    (b)

    Locating errors of principle

    (c)

    Locating clerical errors

    (d)

    All of the above

  8. A suspense account facilitates the preparation of financial statements even when the________has not tallied.

    (a)

    Cash Book

    (b)

    Ledger

    (c)

    Trial Balance

    (d)

    Journal

  9. Trial balance of a trader shows the following balances: Opening Inventory Rs.9600,Purchases less returns Rs.11850; Salaries Rs.3200;Wages Rs.750; Commission on purchases Rs.200 Carriage outwards Rs.300; Sales Rs.24900; Closing Inventory Rs.3500; Carriage Q( purchases Rs.1000; Gross profit will be___________.

    (a)

    Rs. 5,000

    (b)

    Rs. 6,500

    (c)

    Rs. 3,250

    (d)

    Rs. 3,200

  10. The account which has a credit balance and is shown in the debit column of the trial balance is

    (a)

    Sundry debtors account

    (b)

    Bills receivable account

    (c)

    Purchases account

    (d)

    Capital account

  11. 5 x 2 = 10
  12. What is trial balance?

  13. Is it correct to say that trial balance facilitates the preparation of financial statements?

  14. Trial Balance is a link between the ledger and final accounts. Explain.

  15. What is suspense account?

  16. Why is it said that the trial balance is not a conclusive proof ofthe accuracy ofthe account books?

  17. 5 x 3 = 15
  18. What are the features of trial balance?

  19. What are the objectives of preparing trial balance?

  20. 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
  21. Explain the need for preparing trial balance.

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

  23. 3 x 5 = 15
  24. Prepare the trial balance from the following balances of Chandramohan as on 31st March 2017.

      Rs   Rs
    Capital  1,24,500   Bank Overdraft  5,800
    Drawings 2,000   Motor Car 20,000
    Loan Borrowed 7,000   General expenses 2,500
    Sales 53,400   Building 1,10,000
    Purchases 40,000   Stock 16,200

     

  25. From the following balances extracted from the books of Mr Gowri Sankar, a merchant of Chennai, prepare trial balance as on 31.12.2017.

       Rs     Rs
     Buildings     15,000   Conveyance charges     5,600
     Bills payable   5,000   Salary 3,500
     Debtors 15,000   Capital  30,000
     Cash at bank   16,800   Furniture 20,000
     Insurance 1,600   Motor Vehicles 5,000
     Rent received 5,000   Patents 2,000
     Donation given   2,500   Goodwill 3,000
     Loan borrowed 50,000    
  26. Prepare trial balance as on 31.12.2013 from the following balances of Thiru. Jothi Raman

    Name of Account  Rs   Name of Account Rs
    Capital 1,40,000   Purchases 1,94,000
    Creditors 13,000   Sales Returns 3,400
    Drawings 4,000   Purchases Returns 2,400
    Salaries 7,200   Carriage inwards 1,400
    Bills Receivable 5,800   Printing and Stationery 3,500
    Bills Payable 7,000   Stock 29,900
    Debtors 16,000   Machinery 1,10,000
    Sales 2,44,000   Household goods 3,000
    Insurance 1,200   Wages 5,000
    Bad debts 600   Rent 1,600
    Land 20,000   Interest received 1,700
    Discount 900   Travelling expenses 1,000
    Commission (Cr.) 800   Electricity charges 400

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