Which of the following account with normal balance is shown at the credit side of a trial balance?

Related Mcqs:

1. Which of the following account with normal balance is shown at the debit side of a trial balance?

   A. Rent income account
   B. Creditors account
   C. Unearned income account
   D. Cash account

2. Debit balance = Credit balance in a trial balance indicates that:

   A. No error in recording transactions
   B. No error in posting entries to ledger accounts
   C. Account balances are correct
   D. Mathematically Capital+Liabilities=Assets

3. Depreciation Account appearing in the Trial Balance is shown in:

   A. Profit and Loss A/c
   B. Trading A/c
   C. Deducted from the concerned assets A/c
   D. Shown on the liability side

4. If credit side of a bank account is greater than the debit side, it indicates which of the following?

   A. Bank overdraft
   B. Cash at bank
   C. Bank balance
   D. Current Asset

5. If debit side of a bank account is greater than credit side it indicates which of the following?

   A. Cash at bank
   B. Bank understatement
   C. Bank overdraft
   D. Balance overstatement

6. Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

   A. Business entity concept
   B. Money measurement concept
   C. Going concern concept
   D. Matching concept

7. If debit balances = credit balances, trial balance only shows or check the ____________ and it does not indicate that no errors were made during recording and posting.

   A. Arithmetic accuracy
   B. Errors of commission
   C. Omissions of economic events
   D. Understatements of balances

8. Closing stock appearing in the Trial Balance is shown in:

   A. Trading A/c and Balance Sheet
   B. Profit and Loss A/c
   C. Balance Sheet only
   D. Trading A/c only

9. Amount paid to Masood posted to the credit side of his account would affect___________?

   A. Masood’s account
   B. Cash account
   C. Cash account and Gagan’s account
   D. None of these

10. A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.

    (a). Sales of `950 to Ram completely omitted from books of account
    (b). Purchases of `720 from Shyam entered in the purchases journal as `700
    (c). Purchases Journal is overcast by `1,000
    (d). Sales returns journal is undercast by `200
    (e) Amount paid to Agarwal wrongly posted to the debit to Mittal’s account
    (f) Bank overdraft shown under debit column in the Trial Balance
    (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq
    (h) Wages paid for installation of machinery debited to wages account

    A. a, c and g
    B. c, d and f
    C. c, d, e and h
    D. c, d, f and h