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

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

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

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

(a)

journal

(b)

ledger

(c)

trial balance

(d)

balance sheet

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

Trial balance is prepared to find out the_________

(a)

profit or loss

(b)

financial position

(c)

arithmetical accuracy of the accounts

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

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

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

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

What is trial balance?

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

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

What is suspense account?

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

What are the features of trial balance?

What are the objectives of preparing trial balance?

From the following balances extracted from the books of Mr Kannan at trader on automobiles, prepare trial balance as on 31^st 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

Explain the need for preparing trial balance.

What is Suspense Account? When is it opened?

Prepare the trial balance from the following balances of Chandramohan as on 31^st March 2017.

Particulars	Rs	Particulars	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

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

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