Trial Balance - Important Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50

    Part A

    10 x 1 = 10
  1. Trial balance is a_____

    (a)

    Statement

    (b)

    Account

    (c)

    Ledger

    (d)

    Journal

  2. After the preparation of ledger, the next step is the preparation of

    (a)

    Trading account

    (b)

    Trial balance

    (c)

    Journal

    (d)

    Profit and loss account

  3. 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

  4. Which of the following method(s) can be used for preparing trial balance?

    (a)

    Balance method

    (b)

    Total method

    (c)

    Total and Balance method

    (d)

    a, b and c

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

    (a)

    Sundry creditors account

    (b)

    Bills payable account

    (c)

    Drawings account

    (d)

    Capital account

  6. ______________helps to check the arithmetical accuracy of entries made in the accounting records.

    (a)

    Balance Sheet

    (b)

    Trial Balance

    (c)

    Bookkeeping

    (d)

    Double Entry

  7. 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

  8. _____________ is prepared on a specific data.

    (a)

    Trial Balance

    (b)

    Journal

    (c)

    Ledger

    (d)

    All of the above

  9. Suspense account in the trial balance is entered in the ______________.

    (a)

    Trading Account

    (b)

    Profit and Loss Alc

    (c)

    Balance Sheet

    (d)

    None of these

  10. Suspense account having credit balance will be shown on the _____________.

    (a)

    Credit side of the Profit and Loss Alc

    (b)

    Debit side of the Profit and Loss Alc

    (c)

    Liabilities side of the Balance Sheet

    (d)

    Assets side of the Balance Sheet

  11. Part B

    5 x 2 = 10
  12. Is Trial balance an account or a statement?

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

  14. What will be the effect on trial balance if purchases return of Rs 10,000has been wrongly posted to the debit of sales return account but correctly entered in the customer's account?

  15. Definition of trial balance.

  16. What is suspense account?

  17. Part C

    5 x 3 = 15
  18. Whatis the need for preparing trial balance?

  19. What are the features of trial balance?

  20. What are the limitations of trial balance?

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

  22. Explain the various methods of preparing trial balance.

  23. Part D

    3 x 5 = 15
  24. Prepare the trial balance from the following balances of Babu as on 31st March ,2016.

      Rs   Rs
      Cash in Hand  7,000   Bills receivable 7,000
      Sundry Debtors 5,400   Sundry creditors 11,800
      Salaries 6,800   Capital  25,800
      Bad Debts 200   Purchases 45,000
      Opening Stock 15,400   Sales   50,000
  25. From the following balances of Arjun, prepare the trial balance as on 31st March, 2018.

      Rs   Rs
    Cash at bank 12,500 Discount received 1,675
    Opening stock 25,000 Postage 425
    Insurance 1,500 Bills payable 5,600
    Purchases 45,000 Capital 20,000
    Wages 1,750 Sales 58,900
  26. Prepare the trial balance from the following balances of Karthik as on 31st March, 2017.

      Rs   Rs
    Rent and Taxes 5,000 Rent 6,000
    Discount allowed 350 General expenses 3,000
    Capital 10,000 Legal expenses 2,000
    Insurance premium 4,000 Purchases 40,000
    Drawings 5,000 Sales 55,350

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