The trial balance

The account below was entered in Abdul's books. Hanif account for 2020, with balance b/d $400$, purchases $250$, returns $100$, bank $392$, discount $8$, and balance c/d $150$. Which of the following statements is correct?

Feb/March 2020

The ledger account below was shown in a trader’s books. What does the $300 balance on 31 December indicate?

Feb/March 2024

What name is given to a list of ledger balances on a specific date?

Feb/March 2024

For what reason is a trial balance prepared?

Feb/March 2025

Which category of account balances would be listed in the credit column of a trial balance?

Feb/March 2025

Which statement about a trial balance is not true?

May/June 2021

Which statement is incorrect about a trial balance?

May/June 2021

Which statement about a trial balance is accurate?

May/June 2022

The ledger account shown below was recorded in Leah’s books, where Leah is a trader. Which statement is correct?

May/June 2022

When his financial year ended, Zane created a suspense account. Why did he need to open this account?

May/June 2023

The account shown below was recorded in Abdul’s books. Hanif’s account: Debit side: 18 Jan returns $\$100$, 31 Jan bank $\$392$, discount $\$8$, balance c/d $\$150$. Credit side: 1 Jan balance b/d $\$400$, 4 Jan purchases $\$250$. Which statement is correct?

May/June 2023

A trader drew up a trial balance at 31 December. Which statement about this trial balance is correct?

May/June 2023

A trader settles her insurance premium on 1 January each year so that it covers the next 12 months. Her insurance payments were: • 1 January 2022: $1680 • 1 January 2023: $1920 What amount should the trader have recorded for insurance in her income statement for the year ended 31 March 2023?

May/June 2023

Tahir drew up a trial balance. He placed both the balance on the discount allowed account, $900, and the bank overdraft, $750, in the incorrect column. Which side total of the trial balance was larger, and by how much did the debit total differ from the credit total?

May/June 2023

Tahir compiled a trial balance. He put both the balance on the discount allowed account, $900, and the bank overdraft, $750, into the incorrect column. Which total on the trial balance was greater, and how much difference was there between the debit total and the credit total?

May/June 2023

Which statement concerning a trial balance is correct?

May/June 2024

After the income statement had been prepared, the following balances were still shown in the records of a business: loan from XYY Finance $10000$ wages due $620$ rent prepaid $240$ trade receivables $3300$ trade payables $4650$ motor vehicles $8000$ provision for depreciation of motor vehicles $2000$ What was the total amount of liabilities?

May/June 2024

Which item counts as a current asset?

May/June 2024

Jameel’s financial year finishes on 31 December. At the start of 1 January 2021, he carried forward a debit balance on his stationery account. What does this balance mean?

May/June 2024

The following was an account in Peter’s accounting records: Rami Bank $380$, discount received $20$, balance b/d $400$. Which statement is correct?

May/June 2025

At the close of her financial year, Jasmine balanced the cash book and ledger accounts and carried out the necessary year-end transfers. Which statements are correct?

May/June 2025

Which account balance is entered in the debit column of a trial balance?

May/June 2025

Anjum leases a section of her premises to Ajay at $6120 per annum. At the start of the year, Ajay had already paid rent for two months in advance. By the end of the year, Ajay had paid rent for three months in advance. What amount of rent did Anjum receive from Ajay during the year?

May/June 2025

Ziningi drew up a trial balance. The debit column total came to $225750, while the credit column total was $225250. What might account for the discrepancy?

May/June 2025

At the close of her financial year, Jasmine balanced her cash book and ledger accounts and carried out the necessary year-end transfers. Which statements are correct?

May/June 2025

Which account balance would be shown in the debit column of a trial balance?

May/June 2025

The balances shown below were recorded in Hussein's books. What was the overall total of the liabilities?

Oct/Nov 2020

Hussein's books showed the following balances: fixtures $\$6000$, inventory $\$3300$, trade receivables $\$3000$, trade payables $\$4500$, other receivables $\$500$, other payables $\$300$, loan to Imran $\$1000$, bank overdraft $\$1400$. What was the total amount of the liabilities?

Oct/Nov 2020

The account below was entered in Mary’s books (Paul account). Which statement is correct?

Oct/Nov 2020

Hussein's books showed the following balances. Fixtures $6000$ Inventory $3300$ Trade receivables $3000$ Trade payables $4500$ Other receivables $500$ Other payables $300$ Loan to Imran $1000$ Bank overdraft $1400$ What is the total amount of liabilities?

Oct/Nov 2020

Ziningi drew up a trial balance. The total in the debit column was $225\,750$ while the total in the credit column was $225\,250$. What might account for the difference?

Oct/Nov 2020

What does a trial balance show?

Oct/Nov 2021

A sales invoice worth $800 was entered wrongly in the sales journal as $1800. What effect did this mistake have on the trial balance?

Oct/Nov 2021

In her first financial year, a trader paid $1800 for insurance and $3200 for rent. By the end of the financial year, she had transferred insurance of $1500 and rent of $3600 to the income statement. What do the balances left on the accounts at the end of the financial year show?

Oct/Nov 2021

What does a trial balance display?

Oct/Nov 2021

Saddique’s trial balance did not balance. The debit total was $12250 and the credit total was $12200. The errors set out below were found. No record had been entered for cash sales, $150. The balance on the discount received account, $50, had been left out of the trial balance. What were the totals of the trial balance after the errors had been corrected?

Oct/Nov 2022

Which mistakes would be exposed when a trial balance is prepared?

Oct/Nov 2022

Saddique’s trial balance did not balance. The debit side amounted to \$12250 and the credit side amounted to \$12200. The following mistakes were identified. Cash sales of \$150 had not been entered. The total for the discount received account, \$50, had been left out of the trial balance. What would the totals of the trial balance be after these errors had been corrected?

Oct/Nov 2022

Which errors would be detected when a trial balance is prepared?

Oct/Nov 2022

Which statement gives the correct description of a suspense account?

Oct/Nov 2023

What might a credit balance in a ledger account indicate?

Oct/Nov 2023

The debit and credit totals in a trial balance are equal. What does this indicate?

Oct/Nov 2023

Which statement gives the correct description of a suspense account?

Oct/Nov 2023

What might a credit balance in a ledger account indicate?

Oct/Nov 2023

The account shown below was entered in Eli’s ledger. Which statement is correct?

Oct/Nov 2024

Which items are listed on the debit side of a trial balance?

Oct/Nov 2024

The account below was shown in Eli’s ledger. Which statement is correct?

Oct/Nov 2024

Accounting data goes through several stages when the double entry system is used. Which stage verifies the arithmetical accuracy of the double entry?

Oct/Nov 2025

Ann trades as a trader. On 1 April, the account for Cindy in Ann’s ledger was showing a credit balance of $520. The following transactions occurred in April. April 2: Ann sent back goods worth $30 to Cindy. April 14: Ann purchased goods worth $210 from Cindy and settled the amount in cash. Which statement about the balance of Cindy’s account in Ann’s ledger on 30 April is correct?

Oct/Nov 2025

The totals shown in a trial balance do not match because the debit total is higher than the credit total. Which error would need to be corrected in order for the trial balance to balance?

Oct/Nov 2025