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Worksheetstrial balance !!
Total questions: 11
Worksheet time: 6mins
the balance of which account may appear on the debit side of a trial balance?
purchases returns
sales
carriage inwards
rent receivable
why is trial balance prepared?
to calculate net profit
to check the amount of the owner's capital
to check that all invoices have been sent
to check the arithmetical accuracy of the double entry
the cost of a new motor vehicle is debited to the motor vehicle expenses account.
which type of error is this?
commission
complete reversal
omission
principle
which is an error of principle?
cheque for $85 from W entered in W’s account as $5
purchase of machinery entered in purchases account
sales of goods, $300, to X completely omitted from books
sale to Y entered in the account of Z
office expenses paid were debited in the office equipment account.
purchase of a machine was debited in the purchases account.
how do these errors affect the value of fixed assets shown in the balance sheet?
office equipment: too high
machinery: too low
office equipment: too low
machinery: too low
office equipment: too high
machinery: too high
office equipment: too low
machinery: too high
how would the balances of the carriage inwards and carriage outwards accounts be recorded in
the trial balance?
carriage inwards: credit
carriage outwards: debit
carriage inwards: credit
carriage outwards: credit
carriage inwards: debit
carriage outwards: debit
carriage inwards: debit
carriage outwards: credit
which item in a trial balance will appear in the income statement?
bank account
bank charges
bank loan
bank overdraft
cash received from doremi credited to doremon's account. which error is this?
original entry
commission
omission
principle
which of the following is a credit balance?
drawings
purchases return
expenses
sales returns
income account is debited
true
false
rent received from a tenant in cash, $450, was entered in the accounts as $460. how will this affect the trial balance?
debit column - cash overstated
credit column - no effect
debit column - cash overstated
credit column - rent receivable overstated
debit column - no effect
credit column - rent receivable overstated
debit column - rent receivable overstated
credit column - cash overstated
