Trial Balance Test

Result

Trial Balance Test - 5

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Weekly Quiz Competition

Question 1
1 / -0

Sales Book is overcast by Rs.1000. In this case

A
Debtors A/c is wrongly credited by excess amount of Rs.1000

B
Sales A/c is wrongly credited by excess amount of Rs.1000

C
Both Sales A/c and Debtors A/c have been wrongly credited by excess amount of Rs.1000

D
No effect on Sales A/c or Debtors A/c

Solution

Overcasting of the sales book implies that sales have been recorded in excess i.e., sales account has been credited in excess.
Question 2
1 / -0

Name the account affected by the following example- Machinery purchased for Rs.4000 has been debited to purchase account

A
Machinery account and Goods account

B
Assets account and Purchase account

C
Machinery account and Purchase account

D
None of these

Solution

Purchase account has been wrongly debited and machinery account should have been debited but was not.
Question 3
1 / -0

An amount has been posted on the debit side of the commission account as Rs.375 instead of Rs.275. In rectifying the above error, the commission account would be

A
Debited by Rs.100

B
Credited by Rs.100

C
Debited by Rs.50

D
Credited by Rs.50

Solution

The commission account was debited in excess by Rs.100, so it will now be credited by the same amount to rectify the error.
Question 4
1 / -0

Which account will be credited for the goods given as charity?

A
Charity A/c

B
Purchases A/c

C
Sales A/c

D
None of these

Solution

When goods are given as charity, there is an outflow of the goods purchased. So the purchases account is credited.
Question 5
1 / -0

Rs.200 received from Shyam whose account was previously written off as bad debts should be credited to

A
Cash A/c

B
Shyam A/c

C
Bad debts recovered A/c

D
None

Solution

An account written off as bad can not be reopened if the amount (or a part of it) is recovered later. The amount recovered is treated as an income and credited to bad debts recovered account.
Question 6
1 / -0

On purchase of old furniture, the amount of Rs.750 spent on its repairs should be debited to

A
Repairs account

B
Cash account

C
Furniture account

D
None

Solution

When an asset is purchased (whether new or old), the expenses incurred on that asset before putting it to use are to be debited to that asset's account.
Question 7
1 / -0

A sum of Rs.1200 paid to Ashok has been wrongly credited to his account. What should be done to rectify the error

A
Ashok A/c is to be debited

B
Ashok A/c is to be Credited

C
Both

D
None

Solution

Ashok's account should have been debited but it was wrongly credited. So it will now be debited to rectify the error.
Question 8
1 / -0

Purchase of furniture for Rs.5000 was entered in the Purchases Book. To rectify the error

A
Purchases account will be credited and furniture account will be debited

B
Purchases account will be credited

C
furniture account will be debited

D
Purchases account will be debited and furniture account will be credited

Solution

Furniture account should have been debited but it was not, so it will now be debited.Purchase account was wrongly debited so it will now be credited.
Question 9
1 / -0

Sales for Rs.20000 made to Malvika was not entered in the Sales Book. The rectifying journal entry would be

A

Malvika Dr 20000

To Goods A/c 20000

B

Malvika Dr 2000

To Sales A/c 2000

C

Goods Dr 20000

To Sales A/c 20000

D

Malvika Dr 20000

To Sales A/c 20000

Solution

Since the transaction was completely omitted, the normal journal entry for credit sale will be passed.
Question 10
1 / -0

Salary of Rs.7500 paid to Accountant Raman was debited to his Personal account. The rectifying journal entry would be

A

Raman A/c Dr 7500

To Salary A/c 7500

B

Salary A/c Dr 7500

To Raman A/c 7500

C

Salary A/c Dr 7500

To Cash A/c 7500

D

Salary A/c Dr 7000

To Raman A/c 7000

Solution

Salary account had to be debited but it was not, so it will now be debited. Raman's account was wrongly debited so it will now be credited.

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Question Analysis

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Re-Attempt Weekly Quiz Competition

Malvika	Dr	20000
To Goods A/c		20000

Malvika	Dr	2000
To Sales A/c		2000

Goods	Dr	20000
To Sales A/c		20000

Malvika	Dr	20000
To Sales A/c		20000

Trial Balance Test - 5

Result

Trial Balance Test - 5

Score

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Rank

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SHARING IS CARING

Question 1

Debtors A/c is wrongly credited by excess amount of Rs.1000

Sales A/c is wrongly credited by excess amount of Rs.1000

Both Sales A/c and Debtors A/c have been wrongly credited by excess amount of Rs.1000

No effect on Sales A/c or Debtors A/c

Solution

Question 2

Machinery account and Goods account

Assets account and Purchase account

Machinery account and Purchase account

None of these

Solution

Question 3

Debited by Rs.100

Credited by Rs.100

Debited by Rs.50

Credited by Rs.50

Solution

Question 4

Charity A/c

Purchases A/c

Sales A/c

None of these

Solution

Question 5

Cash A/c

Shyam A/c

Bad debts recovered A/c

None

Solution

Question 6

Repairs account

Cash account

Furniture account

None

Solution

Question 7

Ashok A/c is to be debited

Ashok A/c is to be Credited

Both

None

Solution

Question 8

Purchases account will be credited and furniture account will be debited

Purchases account will be credited

furniture account will be debited

Purchases account will be debited and furniture account will be credited

Solution

Question 9

Malvika Dr 20000 To Goods A/c 20000

Malvika Dr 2000 To Sales A/c 2000

Goods Dr 20000 To Sales A/c 20000

Malvika Dr 20000 To Sales A/c 20000

Solution

Question 10

Raman A/c Dr 7500 To Salary A/c 7500

Salary A/c Dr 7500 To Raman A/c 7500

Salary A/c Dr 7500 To Cash A/c 7500

Salary A/c Dr 7000 To Raman A/c 7000

Solution

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Question Analysis

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Malvika Dr 20000

To Goods A/c 20000

Malvika Dr 2000

To Sales A/c 2000

Goods Dr 20000

To Sales A/c 20000

Malvika Dr 20000

To Sales A/c 20000

Raman A/c Dr 7500

To Salary A/c 7500

Salary A/c Dr 7500

To Raman A/c 7500

Salary A/c Dr 7500

To Cash A/c 7500

Salary A/c Dr 7000

To Raman A/c 7000