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Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce PDF Download

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Q1: If the suspense account indicates a debit balance, it shows that ____ column of the trial balance is more than the ____ column.

Q2: ____ balance of personal account represents the amount payable to him.

Q3: Nominal account having credit balance represents ____.

Q4: In rectification entry purchase account……………………. if purchased goods were not posted in purchase account.

Q5: Commission account debited by Rs. 500 instead of rent account, so in rectification entry rent account will____

Q6: Ajay a debtor not included in the list of sundry debtors list. To rectifying this error Ajay account will____.

MCQs


Q1: Outstanding interest Rs.1,000; prepaid rent Rs. 1,000 ; debtors Rs.2,000; creditors Rs.2,000 ; building Rs.20,000. The amount of capital is ___________.
(a) 
30,000
(b) 
10,000
(c) 
20,000
(d) 
15,000

Q2: Capital and interest on capital have ______ and _______ balances respectively in a trial balance.
(a) 
Credit and debit
(b) 
Debit and credit
(c) 
Debit and debit
(d) 
Credit and credit

Q3: Interest on given loan and loans and advances (given) have ________and________ balances respectively in a trial balance.
(a) 
Debit and credit
(b) 
Debit and debit
(c) 
Credit and credit
(d) 
Credit and debit

Q4: A dealer dealing in furniture business purchased furniture, recorded in furniture account.
(a)
There is an error in the above transaction, but trial balance will agree.
(b) 
There is not any error in the above transaction, trial balance will not agree.
(c) 
There is an error and trial balance will not agree.
(d) 
None

Q5: Rent paid for Rs. 5,000 was posted as 5,200 and carriage outwards paid for Rs.8,000 was posted as 7,800. Identify the type of error.
(a) 
Error of commission
(b) 
Error of omission
(c) 
Compensating errors
(d) 
Error of principle

Q6: After providing the trial balance the accountant finds that the total of debit side is short by Rs 2,500. This difference will be
(a) 
Credited to suspense account
(b) 
Debited to suspense account
(c) 
Adjusted to any of the debit balance accounts
(d) 
Adjusted to any of the credit balance accounts

Q7: Rs 3,000 received from sub-tenant for rent and entered correctly in the cash book is posted to the debit of the rent account, in the trial balance
(a) 
The debit total will be greater by Rs 6000 than the credit total
(b) 
The debit total will be greater by Rs 3000 than the credit total.
(c) 
Subject to other entries being correct the total will agree.
(d) 
None of the above

Q8: Sales to Shyam of Rs500 not recorded in the books would affect
(a) 
Shyam’s Account
(b) 
Sales Account
(c) 
Sales Account and Shyam’s Account
(d) 
Cash Account

Q9: Sales to Ram, Rs 336 posted to his account as Rs 363 will affect:
(a) 
Sales account
(b) 
Ram’s account
(c) Cash Account
(d) 
All accounts

Q10: 
Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce

Q11: 
Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce

Q12:
Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce

Q13:
Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce

Q14: Sale of office furniture is credited to
(a) 
Sales Account.
(b) 
Office Furniture Account.
(c) 
Cash Account.
(d)
None of these.

Q15: Suspense Account will give the
(a) 
Debit balance.
(b) 
Credit balance.
(c) 
Debit or credit balance, as the case may be.
(d) None of these.

Q16: Wages paid to Mohan for erecting a machine should be debited to :
(a) 
Wages A/c
(b)
Machine A/c
(c) 
Mohan’s A/c
(d) 
Cash A/c

Q17: Sale of typewriter that has been used in the office should be credited to :
(a) 
Sales A/c
(b)
Cash A/c
(c) 
Capital A/c
(d) 
Typewriter A/c

Q18: The accountant opens the following account when Trial Balance does not match
(a) 
Capital Account.
(b) 
Suspense Account.
(c) 
Drawings Account.
(d) 
Profit and Loss Account.

Q19: Which of the following is not an error of principle?
(a) 
Purchase of machinery debited to Purchase Account.
(b)
Sale of old furniture credited to Sales Account.
(c)
Repairs on the overhauling of existing Machinery debited to Machinery Account.
(d) 
Cash received from Mohan posted to Sohan.

Q20: Suspense Account in the trial balance will be entered in the :
(a) 
Manufacturing A/c
(b) 
Trading A/c
(c) 
Profit & Loss A/c
(d) 
Balance Sheet

Q21: Rent paid to 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 :
(a)
5,000
(b) 
500
(c) 
5,500
(d) 
4,500

Q22: Errors are
(a) 
Undetected mistakes
(b) 
Intentional Mistakes
(c) 
Frauds
(d) 
Unintentional Mistakes

Q23: Rs. 2,000 paid as wages for installing a machine should be debited to
(a) 
Wages Account.
(b) 
Machinery Account.
(c) 
Capital Account.
(d) 
None of these.

Q24: 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 :
(a)
9,900
(b)
2,700
(c) 
3,600
(d)
6,300

Q25: 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 :
(a)
9,900
(b) 
2,700
(c) 
3,600
(d) 
6,300

Q26: 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 :
(a) 
1,800
(b) 
4,200
(c
2,400
(d) 
6,600

The document Worksheet: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce is a part of the Commerce Course Accountancy Class 11.
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FAQs on Worksheet: Trial Balance and Rectification of Errors - Accountancy Class 11 - Commerce

1. What is a trial balance in commerce?
Ans. A trial balance is a statement that lists all the general ledger account balances of a company at a specific point in time. It is prepared to ensure that the debits and credits in the accounting system are equal and to detect any errors in the recording of transactions.
2. How is a trial balance prepared?
Ans. To prepare a trial balance, all the general ledger accounts' balances are listed and categorized as either debit or credit balances. The debit and credit balances are then added separately, and the total debits should equal the total credits. If they don't match, there may be errors in the accounting records.
3. What is the importance of a trial balance in accounting?
Ans. The trial balance is important in accounting as it helps in ensuring the accuracy of the financial records. It allows accountants to detect errors and omissions in the recording of transactions before preparing financial statements. It also serves as a basis for preparing other financial statements like the balance sheet and income statement.
4. What are the common errors that can be identified through a trial balance?
Ans. The trial balance can help identify errors such as mathematical errors, posting errors, errors of omission, errors of commission, and errors of principle. Mathematical errors occur when there are mistakes in calculations, while posting errors happen when amounts are recorded in the wrong accounts. Errors of omission occur when transactions are completely left out, and errors of commission occur when transactions are recorded but with incorrect amounts. Errors of principle occur when accounting principles are not followed correctly.
5. How can errors identified in a trial balance be rectified?
Ans. Errors identified in a trial balance can be rectified by locating the specific error and making the necessary adjustments. If it is a mathematical or posting error, the correct amounts should be recorded in the appropriate accounts. If it is an error of omission, the missing transaction should be recorded. Errors of commission can be rectified by correcting the amounts in the accounts involved. Errors of principle may require adjusting entries to ensure compliance with accounting principles. Once the corrections are made, a revised trial balance can be prepared to ensure the errors have been rectified.
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