Trial Balance and Rectification of Errors

Indicate against each amount whether it is a debit or a credit balance, and prepare a trial balance as at March 31, 2014 based on the following balances: Capital ₹1,00,000; Drawings ₹16,000; Machinery ₹20,000; Sales ₹2,00,000; Purchases ₹2,10,000; Sales return ₹20,000; Purchases return ₹30,000; Wages ₹40,000; Goodwill ₹60,000; Interest received ₹15,000; Discount allowed ₹6,000; Bank overdraft ₹22,000; Bank loan ₹90,000; Debtors : Nathu ₹55,000; Roopa ₹20,000; Creditors : Reena ₹35,000; Ganesh ₹25,000; Cash ₹54,000; Stock on April 01, 2013 ₹16,000.

Credit sales to Rajni ₹ 5,000 recorded in Purchases book. This is an error of ... State the wrong entry recorded in the book of accounts. Correct effect should have been: The rectification entry will be:

Furniture purchased from M/s Rao Furnishigs for ₹ 8,000 was entered into the purchases book. This is the error of ... State the wrong entry recorded in the book of accounts. Correct effect should have been: The rectification entry will be:

Cash received from Karim ₹ 6,000 posted to Nadeem. This is the error of ... State the wrong entry recorded in the book of accounts. Correct effect should have been: The rectification entry will be:

Credit sales to Mohan ₹ 10,000 were posted to his account as ₹ 12,000. This is an error of ..... The wrong effect has been: The correct effect should have been: The rectification entry will be.

Cash paid to Neha ₹ 2,000 was not posted to her account. This is an error of ..... The wrong effect has been: The correct effect should have been: The rectification entry will be:

Sales returns from Megha ₹ 1,600 were posted to her account as ₹ 1,000. This is an error of ... The wrong effect has been: The correct effect should have been: The rectification entry will be:

Depreciation written off on furniture ₹ 1,500 was not posted to depreciation account. This is an error of ... The wrong effect has been: The correct effect should have been: The rectification entry:

Agreement of trial balance is affected by:

Which of the following is not an error of principle:

Which of the following is not an error of commission:

Which of following errors will be rectified through suspense account:

If the trial balance agrees, it implies that:

If suspense account does not balance off even after rectification of errors it implies that:

If wages paid for installation of new machinery is debited to wages Account, it is:

Trial balance is:

A Trial balance is prepared:

State the meaning of a trial balance?

Give two examples of errors of principle?

Give two examples of errors of commission?