Page 126 - DCOM101_FINANCIAL_ACCOUNTING_I

Financial Accounting-I

Notes 5. From the following ledger accounts of Sathiya, draw Trail Balance as on 31st December
2004.

6. List the various reasons because of which the totals of two columns of Trial Balance do not
tally.
7. What are the key methods of preparing the trial balance? Give suitable examples.
8. Illustrate the different types of errors which are not revealed by the trial balance.

9. Explain why?
(a) Discount allowed is brought under the debit side
(b) Discount received is brought under the credit side
10. Make the proforma s trial balance.

Answers: Self Assessment

1. Trial Balance 2. credit side

3. credit side 4. Error of commission
5. Error of omission 6. Error of principle
7. Trial balance 8. Debit side
9. Credit side 10. (d)
11. (c) 12. (d)

13. (b) 14. (b)
15. (b)

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