Mathematically, correct trial balance means:
- Aexcess balance on debit side le
- Bexcess balance on credit side
- ✓indentical total on both sides
- Dzero total on both sides
Answer: C.
View full solution →Question types
P1 C10 Trial Balance question types
50 questions across 6 question groups — pick any mix to generate a Account paper with step-by-step answer keys.
50
Questions
6
Question groups
5
Question types
01
MCQ .(1 Marks)
5 Q→02Answer In One Or Two Sentence .(1 Marks)
23 Q→03questions in two to three sentences . (2 Marks)
5 Q→04Give Answer As Asked .(4 Marks)
9 Q→05Give Answer As Asked .(6 Marks)
5 Q→06Give Answer As Asked .(12 Marks)
3 Q→Sample Questions
P1 C10 Trial Balance questions
One sample from each question group in this chapter. Select any group above to see the full set with answer keys.
What are the methods to prepare a trial balance ?
- Aonly in a statement form
- Bonly in account form
- Cany other method
- ✓$(a)$ and $(b)$ both
Answer: D.
View full solution →What is the duration of accounts disclosed in a trial balance?
- ✓$1$ year
- Bof any time
- Cof $6$ months
- Dof $3$ months
Answer: A.
View full solution →What is prepared on the basis of a trial balance?
- ✓annual accounts
- Badjustments
- Cledger
- Dsubsidiary books
Answer: A.
View full solution →After which stage trial balance is prepared?
- Aafter journal
- Bafter adjustment
- ✓after ledger
- Dbefore ledger
Answer: C.
View full solution →What do you know about the total of both the sides of a trial balance ?
How many sides are there of a trial balance ?
When is total of trial balance called mathematically correct?
On which side of trial balance, deferred reserve expenditure and unpaid expenses are shown?
In which form of trial balance $‘L.F.\ No.’ $ is not shown?
View full solution →When is the concept of true and fair position of business realized?
Explain two objectives of trial balance.
Explain two features of trial balance.
Explain statement form and account form of trial balance:
Explain total methods and balance method.
The Trial balance of Shri Pareshkumar as on $31-3-2016$ shows a difference in the total of debit and credit balances. Ascertain errors and prepare a modified trial balance:
View full solution →| Name of account | L. | Debit | Credit |
| F. | balance(Rs.) | balance(Rs.) | |
| Capital | $66,000$ | ||
| Stock of goods | $9,000$ | ||
| Purchase | $90,000$ | ||
| Sales | $96,000$ | ||
| Goods return debit | $1,200$ | ||
| Goods return credit | $6,000$ | ||
| Wages – Salary | $11,400$ | ||
| Advertisement expense | $2,580$ | ||
| Rent paid | $1,800$ | ||
| Bad debts | $1,200$ | ||
| Building | $42,600$ | ||
| Creditors | $9,000$ | ||
| Debtors | $8,400$ | ||
| General reserve | $5,400$ | ||
| Income tax | $1,800$ | ||
| Bank balance | $2,820$ | ||
| Dividend | $5,000$ | ||
| Commission received | $10,000$ | ||
| Bills receivable | $15,000$ | ||
| Total | $2,62,200$ | $2,62,200$ |
Trial balance prepared by Vallabh is as follows. If any error lies in it, prepare a modified trial balance and give reasons for it:
View full solution →| Name of A/c | Amt.(Rs.) | Name of A/c | Amt.(Rs.) |
| Opening stock | $6,000$ | Capital | $61,000$ |
| Sales | $86,000$ | Discount allowed | $1,500$ |
| Sales return | $4,000$ | Commission received | $1,700$ |
| Wages- Salary | $31,000$ | Fixed assets | $61,000$ |
| Bills receivable | $8,000$ | Purchase | $46,000$ |
| Debtors | $10,000$ | Purchase return | $3,000$ |
| Rent | $4,000$ | Carriage inward | $1,600$ |
| Cash | $1,800$ | Carriage outward | $1,700$ |
| Creditors | $7,900$ | Bills payable | $13,000$ |
| Closing stock | $34,800$ | Interest paid | $3,000$ |
| $1,93,500$ | $1,93,500$ |
From the given information prepare trial balance of Shri Brijmohan as on $31-3-2016:$
View full solution →| Name of A/c | Amt.(Rs.) | Name of A/c | Amt.(Rs.) |
| Opening stock | $7,800$ | Plant- Machineries | $4,500$ |
| Freehold assets | $1,5000$ | Wages | $1,000$ |
| Sundry debtors | $6,000$ | Carriage inward | $90$ |
| Factory expenses | $800$ | Royalty | $100$ |
| Purchase of raw material | $7,500$ | Carriage outward | $100$ |
| Factory rent | $700$ | Capital | $8,000$ |
| Discount allowed | $400$ | Discount received | $360$ |
| Sundry creditors | $2,000$ | Insurance | $200$ |
| Bad debts reserve | $150$ | Commission received | $1,500$ |
| Commission paid | $500$ | Bad debts | $150$ |
| Office expenses | $750$ | Salary | $1,000$ |
| Travelling expense | $100$ | Legal expense | $100$ |
| Bank balance | $420$ | Cash balance | $400$ |
| Loan borrowed | $3,000$ | Office rent | $400$ |
| Net sales | $33,000$ |
From the given information prepare trial a balance of Pravin Patel as on $31-3-2016 :$
View full solution →| Name of A/c | Amt.(Rs.) | Name of A/c | Amt.(Rs.) |
| Opening stock | $7,440$ | Bank loan | $1,760$ |
| Wages | $4,000$ | Carriage inward | $1,200$ |
| Sales | $48,000$ | Purchase | $30,000$ |
| Repairing | $800$ | Carriage outward | $600$ |
| Tax | $600$ | Debtors | $8,000$ |
| Land-Building | $2,400$ | Cash balance | $80$ |
| Plant-Machinery | $3,000$ | Loose tools | $720$ |
| Electricity expenses | $920$ | Creditors | $3,200$ |
| Capital | $16,000$ | Sundry incomes | $240$ |
| Office salary | $1,000$ | Office furniture | $240$ |
| Patent | $400$ | Goodwill | $6,000$ |
| Bank balance | $1,800$ |
Total of both the sides of trial balance as on $31-3-2016$ of Shri Atul are not identical. Ascertain errors and prepare a modified trial balance.
View full solution →| Trial Balance of Shri Atul as on $31-3-2016$ | |||
| Debit Balance | Amt.(Rs.) | Credit Balance | Amt.(Rs.) |
| Opening stock | $22,500$ | Sales | $3,75,000$ |
| Bad debts reserve | $2400$ | Investments | $15,000$ |
| Interest on investments | $900$ | $25,500$ | |
| Purchase | $2,25,000$ | Capital | $42,000$ |
| Salary | $25,500$ | Bills receivable | $19,500$ |
| Carriage outward | $7350$ | Debtors | $75,000$ |
| Purchase returns | $13,050$ | Rent received | $1050$ |
| Motor car | $24,000$ | Interest on loan | $1080$ |
| Wages | $6750$ | Discount received | $2250$ |
| Telegram-post | $600$ | Carriage inward | $10,500$ |
| Drawings | $6000$ | ||
| Cash balance | $1500$ | ||
| Bills payables | $9750$ | ||
| Bank overdraft | $12,000$ | ||
| Sundry expenses | $13,050$ | ||
| Creditors | $45,000$ | ||
| Bad debts | $1950$ | ||
| Taxes Insurance | $6120$ | ||
| Bank loan | $36,000$ | ||
| Advertisement expenses | $7500$ | ||
| Land-Building | $45,000$ | ||
| $5,11,920$ | $5,66,880$ | ||
Total of both the sides of trail balance as on $31-3-2016$ of Shri Atul are not identical. Ascertain errors and prepare a modified trial balance.
View full solution →Trial balance of Himani as on $31-3-2016$ is provided as follows. Determine whether the trail balance is correct or not from the view point of rules of accounts. If mistakes are reported, prepare a modified trial balance.
View full solution →The following balances are extended from the book of shri Amit on $31-3-2016.$ from these balances prepare a trial balanceod Shri Amit.
Determine the debit balances from the above balances. Also determine to which types of account is applicable for these debit and credit balances.
View full solution →Determine the debit balances from the above balances. Also determine to which types of account is applicable for these debit and credit balances.
The following balances are extracted from the books of Inder. From these prepare a trial balance as on $31-3-2015.$
View full solution →Total accounts of debit side and credit side from the books of Shri Dharam as on $31-3-2015$ are provided. Prepare a trial balance from it.
View full solution →Prepare rectified trial balance of Shri Jaydeep from the following trial balance which does not agree.
View full solution →| Name of account | L.F. | Debit (Rs.) | Credit(Rs.) |
| Purchase | - | $80,000$ | |
| Sales | $1,00,000$ | - | |
| Good return- debit | $5000$ | - | |
| Good return – credit | $7000$ | - | |
| Bank balance | - | $12,000$ | |
| Cash balance | - | $4000$ | |
| Opening stock of goods | $15,000$ | - | |
| Capital | - | $90,000$ | |
| Drawings | - | $9000$ | |
| Debtors | - | $14,000$ | |
| Creditors | $18,000$ | - | |
| Generals reserve | $3500$ | - | |
| Income tax | $2000$ | - | |
| Value added tax $(VAT)$ & other taxes | $7500$ | - | |
| Divided received | $2000$ | - | |
| Advertisement expenses | - | $4000$ | |
| Salary wages | $14,000$ | - | |
| Discount allowed | $1500$ | - | |
| Bad debts | $3200$ | - | |
| Bad debts recover | $1800$ | - | |
| Land – building | $35,000$ | - | |
| Bill payable | - | $4500$ | |
| Bill received | - | $5000$ | |
| Closing stocks of goods | $11,600$ | - | |
| Total(Rs.) | $2,27,100$ | $2,22,500$ |
Following trial balance of Shri Bharat Patel agrees but still there are some errors, rectify them and prepare the rectified trial balance.
View full solution →| Name of Account | L.F. | Debit balance(Rs.) | Credit balance(Rs.) |
| Opening stock of goods | $8,000$ | - | |
| Biil payable | $12,000$ | - | |
| Sales | $40,000$ | - | |
| Sales return | $4,000$ | - | |
| Capital | - | $60,000$ | |
| Salary | - | $18,000$ | |
| Bank overdraft | - | $17,500$ | |
| Purchase | - | $32,000$ | |
| Purchase return | - | $2000$ | |
| Machinery | $25000$ | - | |
| Bill receivables | - | $10,000$ | |
| Deborts | $13,000$ | - | |
| Interest paid | - | $750$ | |
| Carriage inward | - | $3,000$ | |
| Carriage outward | - | $3,000$ | |
| Cash balance | $11,000$ | - | |
| Creditors | $7,750$ | - | |
| Closing stock of goods | $16,000$ | - | |
| Fixed assets | - | $5,000$ | |
| Depreciation on machine | - | $3,000$ | |
| General reserve | - | $6,750$ | |
| Dividend received | $10,750$ | - | |
| Goods goes out by any means | $15,000$ | - | |
| Furniture | $8,500$ | - | |
| Investments | $10,750$ | - | |
| Mortgage loan | - | $10,000$ | |
| Loan advanced | - | $10,750$ | |
| $1,81,750$ | $1,81,750$ |
From the following information of Shri Rakesh Patel prepare trial balance in account form as on $31-3-2016.$
View full solution →| Name of account | Amount(Rs.) | Name of account | Amount(Rs.) |
| Opening stock of goods | $5000$ | Carriage inward | $1300$ |
| Closing stock of goods | $12,000$ | Carriage outward | $2000$ |
| Wages | $750$ | Debtors | $9000$ |
| Unpaid wages | $1000$ | Creditors | $6000$ |
| Purchase | $27,000$ | Cash balance | $4900$ |
| Sales | $40,000$ | Dividend received | $970$ |
| Goods return from deborts | $3500$ | Bad debts | $1100$ |
| Goods return to creditors | $2000$ | Bad debts recover | $1000$ |
| Building repairing | $3700$ | Advertisement expenses | $6000$ |
| Value added tax $(VAT)$ | $1150$ | Depreciation of machine | $4800$ |
| Land-building-machine | $50,000$ | Apprentice premium | $2060$ |
| Capital | $1,40,000$ | Lense hold hand | $14,000$ |
| Drawing | $12,000$ | Productive wages | $3200$ |
| Office salary | $36,000$ | Prepaid salary | $1200$ |
| Goodwill- patent | $5000$ | Bonus | $2400$ |
| Bank balance | $7950$ | Machine repairing | $1900$ |
| Bank loan | $23,000$ | ||
| Interest on bank loan | $180$ |
Generate a P1 C10 Trial Balance paper free
Pick question groups from the list above, set marks and difficulty, and export a branded PDF with step-by-step answer keys. First 3 chapters free — no signup.