Trial balance is a_____

(a)

Statement

(b)

Account

(c)

Ledger

(d)

Journal

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

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

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

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

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

(a)

Balance Sheet

(b)

Trial Balance

(c)

Bookkeeping

(d)

Double Entry

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

_____________ is prepared on a specific data.

(a)

Trial Balance

(b)

Journal

(c)

Ledger

(d)

All of the above

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

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

Is Trial balance an account or a statement?

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

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

Definition of trial balance.

What is suspense account?

Whatis the need for preparing trial balance?

What are the features of trial balance?

What are the limitations of trial balance?

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

Explain the various methods of preparing trial balance.

Prepare the trial balance from the following balances of Babu as on 31st March ,2016.

Particulars	Rs	Partiiculars	Rs
Cash in Hand	7,000	Bills receivable	7,000
Sundry Debtors	5,400	Sundry creditors	11,800
Salaries	6,800	Capital	25,000
Bad Debts	200	Purchases	45,000
Opening Stock	15,400	Sales	50,000

From the following balances of Arjun, prepare the trial balance as on 31^st March, 2018.

Particulars	Rs	Particulars	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

Prepare the trial balance from the following balances of Karthik as on 31^st 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