Difference of totals of both debit and credit side of the trial balance is transferred to:

Related MCQs

• In case of debit balance , the words …………. are written on the debit side.
• In case credit balance , the words ………….. are written on the credit side.
• Which balance is not considered for closing entries on t he basis of trial balance for transferring to Trading and Profit & Loss Account?
• From the following details ascertain the adjusted bank balance as per Cash Book – overdraft as per Cash Book 1,60,000; cheque received entered twice in the Cash Book 10,000; credit side of bank column cash short by 1,000; bank charges amounting to 400 entered twice:
• Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
• If two or more transactions of the same nature are journalize together having either the debit or credit account common is known as:
• When preparing a bank reconciliation statement, if you start with debit balance as per cash book cheques sent to bank but not collected should be
• All of the following have debit balance except one. That account is ………
• ……………………… will generally show a debit balance.
• All of the following have debit balance except: