Trial balance is a_____

(a)

Statement

(b)

Account

(c)

Ledger

(d)

Journal

The trial balance contains the balances of_____

(a)

Only personal accounts

(b)

Only real accounts

(c)

Only nominal accounts

(d)

All accounts

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

The difference of totals of both debit and credit side of trial balance is transferred to _________

(a)

Trading account

(b)

Difference account

(c)

Suspense account

(d)

Miscellaneous account

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

What is trial balance?

What are the methods of preparation of trial balance?

State whether the balance of the following accounts should be placed in the debit or the credit column of the trial balance
(i) Carriage outwards
(ii) Carriage inwards
(iii) Sales
(iv) Purchases
(v) Bad debts
(vi) Interest paid
(vii) Interest received
(viii) Discount received
(ix) Capital
(x) Drawings
(xi) Sales returns
(xii) Purchase returns

What are the objectives of preparing trial balance?

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

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

Prepare the trial balance from the following information:

Name of the account	Rs	Name of the account	Rs
Bank Loan	2,00,000	Purchases	1,80,000
Bills Payable	1,00,000	Sales	3,00,000
Stock	70,000	Debtors	4,00,00
Capital	2,50,000	Bank	2,00,000

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