Note – Please take our quiz ‘Quiz 49 – Debit or Credit Balance in Trial Balance – (Answers)‘ on this page before going through the below answers. Only the top 3% of our audience scored 10/10 in all of them.
- 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.