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Trial Balance - Accountancy Class 11 - Commerce
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Page 1
Q.1 Prepare a Trial Balance with the following information:
Sl. No Name of Account
Balance
(?)
Sl. No Name of Account
Balance
(?)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000
The solution can be represented as follows
Page 2
Q.1 Prepare a Trial Balance with the following information:
Sl. No Name of Account
Balance
(?)
Sl. No Name of Account
Balance
(?)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000
The solution can be represented as follows
Q.2 Journalise the following transactions, post them into Ledger and prepare a Trial Balance:
2019 (?) 2019 (?)
April 1 Mohan commenced business with
cash
1,00,000 April
20
Received cash from Gopal 3,950
April 3 Bought goods 5,000 Discount Allowed 50
April 4 Sold goods to Gopal 4,000 April
25
Paid wages 700
April
10
Bought goods from Ram 8,000 April
27
Paid to Ram in full settlement 7,700
April
15
Paid trade expenses 2,000 April
30
Paid rent 1,500
The solution can be represented as follows
Page 3
Q.1 Prepare a Trial Balance with the following information:
Sl. No Name of Account
Balance
(?)
Sl. No Name of Account
Balance
(?)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000
The solution can be represented as follows
Q.2 Journalise the following transactions, post them into Ledger and prepare a Trial Balance:
2019 (?) 2019 (?)
April 1 Mohan commenced business with
cash
1,00,000 April
20
Received cash from Gopal 3,950
April 3 Bought goods 5,000 Discount Allowed 50
April 4 Sold goods to Gopal 4,000 April
25
Paid wages 700
April
10
Bought goods from Ram 8,000 April
27
Paid to Ram in full settlement 7,700
April
15
Paid trade expenses 2,000 April
30
Paid rent 1,500
The solution can be represented as follows
Page 4
Q.1 Prepare a Trial Balance with the following information:
Sl. No Name of Account
Balance
(?)
Sl. No Name of Account
Balance
(?)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000
The solution can be represented as follows
Q.2 Journalise the following transactions, post them into Ledger and prepare a Trial Balance:
2019 (?) 2019 (?)
April 1 Mohan commenced business with
cash
1,00,000 April
20
Received cash from Gopal 3,950
April 3 Bought goods 5,000 Discount Allowed 50
April 4 Sold goods to Gopal 4,000 April
25
Paid wages 700
April
10
Bought goods from Ram 8,000 April
27
Paid to Ram in full settlement 7,700
April
15
Paid trade expenses 2,000 April
30
Paid rent 1,500
The solution can be represented as follows
Page 5
Q.1 Prepare a Trial Balance with the following information:
Sl. No Name of Account
Balance
(?)
Sl. No Name of Account
Balance
(?)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000
The solution can be represented as follows
Q.2 Journalise the following transactions, post them into Ledger and prepare a Trial Balance:
2019 (?) 2019 (?)
April 1 Mohan commenced business with
cash
1,00,000 April
20
Received cash from Gopal 3,950
April 3 Bought goods 5,000 Discount Allowed 50
April 4 Sold goods to Gopal 4,000 April
25
Paid wages 700
April
10
Bought goods from Ram 8,000 April
27
Paid to Ram in full settlement 7,700
April
15
Paid trade expenses 2,000 April
30
Paid rent 1,500
The solution can be represented as follows
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FAQs on Trial Balance - Accountancy Class 11 - Commerce
| 1. What is a trial balance in accounting? |  |
Ans. A trial balance is an accounting report that lists the balances of all general ledger accounts of a business at a specific point in time. It is used to verify that the total debits equal the total credits, ensuring that the accounts are mathematically correct and that the books are in balance.
| 2. Why is a trial balance important in the accounting process? | |
Ans. A trial balance is important because it helps identify any discrepancies or errors in the accounting records. It serves as a preliminary step before preparing financial statements and ensures that all transactions have been recorded correctly, providing a basis for further financial analysis.
| 3. How is a trial balance prepared? | |
Ans. A trial balance is prepared by listing all the account names from the general ledger along with their respective debit or credit balances. The total of the debit balances is then compared with the total of the credit balances. If they match, the trial balance is considered balanced; if not, further investigation is required to find and rectify any errors.
| 4. What are the types of trial balances? | |
Ans. There are mainly two types of trial balances: the unadjusted trial balance and the adjusted trial balance. The unadjusted trial balance is prepared before any adjustments are made, while the adjusted trial balance is prepared after all necessary adjustments, such as accruals and deferrals, have been accounted for.
| 5. What are common errors that can cause a trial balance not to balance? | |
Ans. Common errors that can cause a trial balance to be unbalanced include transposition errors (switching numbers), omission of an account balance, double posting of a transaction, or incorrect ledger postings. These errors can lead to discrepancies in the total debit and credit balances, necessitating further review and correction.
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