could anyone resolve my doubts? ALONG WITH REASONS
1. a trial balance will not balance if-
a. correct journal entry is posted twice.
b. the purchase on credit basis is debited to purchases and credited to cash.
c. Rs.500 cash payment to creditors is debited to creditors for Rs.50 and credited to cash as Rs.500.
d. none of the above
2. Rs.1500 received from sub-tenant for rent and entered correctly in the cash book is posted to the debit of the rent account. in the trial balance-
a.the debit will be greater by Rs.3000 than the credit total.
b. the debit total will be greater by Rs.1500 than the credit total. (i thought it was 'b', but its wrong)
c. subject to other entries being correct the total will agree
d. none of the above
CAclubindia
