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

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

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

Q3: Nominal account having credit balance represents ____.
Ans:
Income

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

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

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

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
Ans:
(c)

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
Ans:
(a)

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
Ans:
(d)

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
Ans:
(a)

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
Ans:
(c)

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
Ans:
(b)

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
Ans:
(a)

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
Ans:
(c)

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
Ans:
(b)

Q10: 
Worksheet Solutions: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce
Ans: 
1-b 2-a

Q11: 
Worksheet Solutions: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce
Ans:
1 –d 2 – b

Q12:
Worksheet Solutions: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce
Ans: 1-a 2- b


Q13:
Worksheet Solutions: Trial Balance and Rectification of Errors | Accountancy Class 11 - Commerce
Ans: 
1-c 2 - d

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

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.
Ans: 
(c)

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
Ans:
(b)

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
Ans: 
(d)

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.
Ans:
(b)

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.
Ans: 
(d)

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
Ans:
(d)

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
Ans: 
(c)

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

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.
Ans:
(b)

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
Ans: 
(b)


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
Ans:
(a)

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
Ans:
(a)

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FAQs on Worksheet Solutions: Trial Balance and Rectification of Errors - Accountancy Class 11 - Commerce

1. What is a trial balance and why is it important in accounting?
Ans. A trial balance is a statement that lists all the ledger account balances of a company at a specific point in time. It is important in accounting as it helps in detecting any errors or discrepancies in the accounting records, ensures the accuracy of the financial statements, and aids in the preparation of financial statements.
2. How is a trial balance prepared?
Ans. A trial balance is prepared by adding up all the debit balances and credit balances of the ledger accounts. The total of the debit balances should equal the total of the credit balances. The balances are then listed in the trial balance format, with the debit balances on the left and the credit balances on the right.
3. What are the types of errors that can be identified through a trial balance?
Ans. A trial balance can help identify various types of errors, such as arithmetic errors, posting errors, omission errors, and compensating errors. Arithmetic errors occur when there are mistakes in calculations, posting errors occur when an amount is posted to the wrong account, omission errors occur when a transaction is completely omitted from the books, and compensating errors occur when two or more errors cancel each other out.
4. How can errors be rectified after preparing a trial balance?
Ans. Errors can be rectified after preparing a trial balance by first identifying the type of error. Arithmetic errors can be corrected by recalculating the amounts, posting errors can be corrected by transferring the amount to the correct account, omission errors can be rectified by recording the omitted transaction, and compensating errors can be rectified by reversing the incorrect entries and making the correct entries.
5. What are the consequences of not rectifying errors in the trial balance?
Ans. If errors in the trial balance are not rectified, they can lead to misrepresentation of the financial statements, inaccurate calculation of profits or losses, incorrect assessment of the financial position of the company, and potential legal and regulatory issues. It is important to rectify errors to ensure the reliability and accuracy of the financial information.
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