Quiz 49 – Debit or Credit Balance in Trial Balance (Answers)

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  • Name – Quiz 49 – Debit or Credit Balance in Trial Balance – (Answers)
  • Topic – Debit or Credit Balance in Trial Balance
  • Answers with Explanation

 

Q1. Leasehold Property will have a debit balance in Trial Balance.

Ans. The following statement is True. Leasehold Property will have a debit balance in Trial Balance.

 

Q2. Purchases Return will have a credit balance in Trial Balance.

Ans. The following statement is False. Purchases Return will have a debit balance in Trial Balance.

 

Q3. Creditors will have a debit balance in Trial Balance.

Ans. The following statement is False. Creditors will have a credit balance in Trial Balance.

 

Q4. Bills Payable will have a credit balance in Trial Balance.

Ans. The following statement is True. Bills Payable will have a credit balance in Trial Balance.

 

Q5. Opening Stock will have a debit balance in Trial Balance.

Ans. The following statement is True. Opening Stock will have a debit balance in Trial Balance.

 

Q6. Sales Return will have a credit balance in Trial Balance.

Ans. The following statement is False. Sales Return will have a debit balance in Trial Balance.

 

Q7. Provisions for Doubtful Debts will have a credit balance in Trial Balance.

Ans. The following statement is True. Provisions for Doubtful Debts will have a credit balance in Trial Balance.

 

Q8. Bank Overdraft will have a debit balance in Trial Balance.

Ans. The following statement is False. Bank Overdraft will have a credit balance in Trial Balance.

 

Q9. Capital A/c will have a debit balance in Trial Balance.

Ans. The following statement is False. Capital A/c will have a credit balance in Trial Balance.

 

Q10. Trade Payables will have a credit balance in Trial Balance.

Ans. The following statement is True. Trade Payables will have a credit balance in Trial Balance.

 

Q11. Trade Receivables will have a debit balance in Trial Balance.

Ans. The following statement is True. Trade Receivables will have a debit balance in Trial Balance.

 

Q12. Discount received will have a debit balance in Trial Balance.

Ans. The following statement is False. Discount received will have a credit balance in Trial Balance.

 

Q13. Discount allowed will have a debit balance in Trial Balance.

Ans. The following statement is True. Discount allowed will have a debit balance in Trial Balance.

 

Q14. Drawings will have a debit balance in Trial Balance.

Ans. The following statement is True. Drawings will have a debit balance in Trial Balance.

 

Q15. Furniture will have a credit balance in Trial Balance.

Ans. The following statement is False. Furniture will have a debit balance in Trial Balance.

 

Q16. Purchases will have a debit balance in Trial Balance.

Ans. The following statement is True. Purchases will have a debit balance in Trial Balance.

 

Q17. Sales will have a credit balance in Trial Balance.

Ans. The following statement is True. Sales will have a credit balance in Trial Balance.

 

Q18. Provision for Depreciation will have a debit balance in Trial Balance.

Ans. The following statement is False. Provision for Depreciation will have a credit balance in Trial Balance.

 

Q19. Salaries will have a debit balance in Trial Balance.

Ans. The following statement is True. Salaries will have a debit balance in Trial Balance.

 

Q20. Rent & Rates will have a credit balance in Trial Balance.

Ans. The following statement is False. Rent & Rates will have a debit balance in Trial Balance.

 


 

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