All Courses
Get the App Signup / Login
Sign in Open App
SSC CGL Exam  >  SSC CGL Tests  >  SSC CGL Tier 2 - Study Material, Online Tests, Previous Year  >  Test: Trial Balance and Rectification of Errors- Case Based Type Questions - SSC CGL MCQ

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - SSC CGL MCQ


Test Description

12 Questions MCQ Test SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - Test: Trial Balance and Rectification of Errors- Case Based Type Questions

Test: Trial Balance and Rectification of Errors- Case Based Type Questions for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation. The Test: Trial Balance and Rectification of Errors- Case Based Type Questions questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Trial Balance and Rectification of Errors- Case Based Type Questions MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Trial Balance and Rectification of Errors- Case Based Type Questions below.
Solutions of Test: Trial Balance and Rectification of Errors- Case Based Type Questions questions in English are available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Test: Trial Balance and Rectification of Errors- Case Based Type Questions solutions in Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt Test: Trial Balance and Rectification of Errors- Case Based Type Questions | 12 questions in 24 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL Exam | Download free PDF with solutions
Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 1
Save

A brief-case purchased for Rs.800 for the son of a partner was debited to General Exp. A/c with Rs.80. In the rectifying entry, Drawings A/c should be debited with:

Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 1

Drawings A/C dr. 800

To general expenses A/C 80

To suspense A/c 720

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 2
Save

Wages paid to a worker making additions to machinery amounting to Rs. 5,000 were debited to the Wages account. Identify the type of error.

Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 2
Errors are classified as:

  • Error of Omission

  • Error of Commission

  • Error of Principle

  • Compensating error

All the expenses paid for purchase of machinery should be debited to machinery account as its a capital expenditure. Hence, Wages paid for installation of machinery debited to wages account is an error of principle.

1 Crore+ students have signed up on EduRev. Have you? Download the App
Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 3
Save

Purchased goods from Gopal for Rs.3,600 but was recorded in Gopal’s A/c as Rs.6,300. In the rectifying entry, Gopal’s A/c will be debited with :

Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 3
As Gopal is credited with 6300 instead of 3600. To rectify this error, Gopal account should be debited with the difference i.e., 2700 (6300-3600).

Correct Entry

Purchases a/c Dr. 3600

To Gopal a/c 3600

Incorrect Entry

To Gopal a/c (wrong posting in ledger) 6300

Rectifying Entry

Gopal a/c Dr. 2700

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 4
Save

Trial balance is prepared to check
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 4
A trial balance is prepared at the end of the accounting period or at the end of each month, the balances of the ledger accounts are extracted and is prepared to test as to whether the total debits are equal to total credits. Its prepared to check the arithmetical accuracy of the books of account.
Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 5
Save

Rent paid to the landlord amounting to Rs.500 was credited to Rent A/c with Rs.5,000. In the rectifying entry, Rent A/c will be debited with :
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 5
Rent paid Rs.500 need to be debited to Rent A/ c but instead Rent a/c is credited with Rs.5000.

Hence Rent a/c will be debited by Rs.5500 i.e. Rs.500 for actual rent & Rs.5000 to nullify the wrong posting.

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 6
Save

Purchased goods from Gopal for Rs.3,600 but was recorded as Rs.6,300 to the debit of Gopal. In the rectifying entry, Gopal’s A/c will be credited with :
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 6
As Gopal is credited with 6300 instead of 3600. To rectify this error, Gopal account should be debited with the difference i.e., 9,900 (6300 + 3600).
Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 7
Save

Sohan returned goods to us amounting Rs.4,200 but was recorded as Rs.2,400 in his account. In the rectifying entry, Sohan’s A/c will be credited with :
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 7
Return goods of Rs. : 4200

Less : Wrongly entered as : 2400

(1800)

So, Sohan's Account will be credited with Rs. 1800

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 8
Save

The Company incorrectly recorded a deposit of daily credit sales of Rs. 4,500 as Rs. 5,400. What is the appropriate entry, the company should follow regarding the error of Rs. 900?
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 8
Appropriate Entry are

Sales (Dr) whereas Account Receivable (Cr) with Rs. 900

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 9
Save

Read the following hypothetical Case Study and answer the given questions:

An accountant while balancing his books on 31st December 2016 found that there was a difference of ₹270 in the trial balance. Being required to prepare the final accounts he placed the difference to a newly opened Suspense A/c, which was carried forward to the next year when the following errors were discovered:

  • Salary for the month of March was posted twice ₹155.

  • Interest on investment collected by the bankers, were posted directly in concerned accounts through the pass book, but no entry was made in the bank column of the cash book ₹75.

  • Rent of ₹350 received from Ashok credited both to Rent Account and Ashok Account.

  • A purchase of a chair from Karnal Furniture Mart for ₹65 has been entered in the purchase book as ₹56.

  • Old Machinery sold to the proprietor Keshav for ₹400 was entered in the Sales Book as sale to Kishore.

  • Cash Purchases from Ajay ₹189 were recorded in Cash Book as well as in Purchases Book and posted from both.

  • Closing Stock has been undervalued by ₹300.

  • The Profit & Loss Account disclosed a net profit of ₹15,000 for the year ended 31st March 2016.

Q. What will be the journal entry for the balance of Profit and Loss Adjustment Account?
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 9
The journal entry for the balance of Profit and Loss Adjustment Account

Profit & Loss Adjustment A/c Dr. 300

To Capital A/c 300

(Being balance of Profit & Loss Adjustment A/c transferred to Capital A/c)

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 10
Save

Read the following hypothetical Case Study and answer the given questions:

An accountant while balancing his books on 31st December 2016 found that there was a difference of ₹270 in the trial balance. Being required to prepare the final accounts he placed the difference to a newly opened Suspense A/c, which was carried forward to the next year when the following errors were discovered:

  • Salary for the month of March was posted twice ₹155.

  • Interest on investment collected by the bankers, were posted directly in concerned accounts through the pass book, but no entry was made in the bank column of the cash book ₹75.

  • Rent of ₹350 received from Ashok credited both to Rent Account and Ashok Account.

  • A purchase of a chair from Karnal Furniture Mart for ₹65 has been entered in the purchase book as ₹56.

  • Old Machinery sold to the proprietor Keshav for ₹400 was entered in the Sales Book as sale to Kishore.

  • Cash Purchases from Ajay ₹189 were recorded in Cash Book as well as in Purchases Book and posted from both.

  • Closing Stock has been undervalued by ₹300.

  • The Profit & Loss Account disclosed a net profit of ₹15,000 for the year ended 31st March 2016.

Q. What will be the rectification entry of the salary for the month of march posted twice?
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 10
The rectification entry of the salary for the month of march posted twice

Suspense A/c Dr. 155

To Profit & Loss Adjustment A/c 155

(Being rectification of salary posted twice in the books)

Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 11
Save

Read the following hypothetical Trial Balance extracted from the books of M/s Ravilal and Company and answer the given questions:

In the books of M/s Ravilal and Company

Trial Balance as on 31/3/2018

Q. Which of the following items appears on the wrong side of the trial Balance?
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 11
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 12
Save

Read the following hypothetical Trial Balance extracted from the books of M/s Ravilal and Company and answer the given questions:

In the books of M/s Ravilal and Company

Trial Balance as on 31/3/2018

Q. What should be the actual total in the rectified Trial Balance?
Detailed Solution for Test: Trial Balance and Rectification of Errors- Case Based Type Questions - Question 12
The actual total in the rectified Trial Balance is ₹18,21,000.
1365 videos|1312 docs|1010 tests
Join Course
Information about Test: Trial Balance and Rectification of Errors- Case Based Type Questions Page
In this test you can find the Exam questions for Test: Trial Balance and Rectification of Errors- Case Based Type Questions solved & explained in the simplest way possible. Besides giving Questions and answers for Test: Trial Balance and Rectification of Errors- Case Based Type Questions, EduRev gives you an ample number of Online tests for practice

Top Courses for SSC CGL

Download as PDF

Top Courses for SSC CGL

Important Questions for Trial Balance and Rectification of Errors- Case Based Type Questions

Find all the important questions for Trial Balance and Rectification of Errors- Case Based Type Questions at EduRev.Get fully prepared for Trial Balance and Rectification of Errors- Case Based Type Questions with EduRev's comprehensive question bank and test resources. Our platform offers a diverse range of question papers covering various topics within the Trial Balance and Rectification of Errors- Case Based Type Questions syllabus. Whether you need to review specific subjects or assess your overall readiness, EduRev has you covered. The questions are designed to challenge you and help you gain confidence in tackling the actual exam. Maximize your chances of success by utilizing EduRev's extensive collection of Trial Balance and Rectification of Errors- Case Based Type Questions resources.

Trial Balance and Rectification of Errors- Case Based Type Questions MCQs with Answers

Prepare for the Trial Balance and Rectification of Errors- Case Based Type Questions within the SSC CGL exam with comprehensive MCQs and answers at EduRev. Our platform offers a wide range of practice papers, question papers, and mock tests to familiarize you with the exam pattern and syllabus. Access the best books, study materials, and notes curated by toppers to enhance your preparation. Stay updated with the exam date and receive expert preparation tips and paper analysis. Visit EduRev's official website today and access a wealth of videos and coaching resources to excel in your exam.

Online Tests for Trial Balance and Rectification of Errors- Case Based Type Questions SSC CGL Tier 2 - Study Material, Online Tests, Previous Year

Practice with a wide array of question papers that follow the exam pattern and syllabus. Our platform offers a user-friendly interface, allowing you to track your progress and identify areas for improvement. Access detailed solutions and explanations for each test to enhance your understanding of concepts. With EduRev's Online Tests, you can build confidence, boost your performance, and ace Trial Balance and Rectification of Errors- Case Based Type Questions with ease. Join thousands of successful students who have benefited from our trusted online resources.
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup