Reference no: EM132782411

Question 1: Which of the following is not included in a trial balance?

Option 1: dates of transactions
Option 2: ledger accounts
Option 3: debit balances
Option 4: credit balances

Question 2: Which of the following situations will cause the total debit balance to be greater than the total credit balance?

Option 1: The amount extracted from a debtor's account is posted to the wrong side of the trial balance.
Option 2: The amount extracted from the machinery account is posted wrongly as P4,000 instead of P40,000.
Option 3: The sales of goods are regarded as purchases of goods.
Option 4: The sales of goods to a debtor, Mr. Lee, are recorded in the account of another debtor, Mr. LI.

Question 3: Which of the following situations will cause total debit balance to be smaller than the total credit balance?

Option 1: The amount extracted from a creditor's account is posted to the wrong side of the trial balance.
Option 2: The amount extracted from the account of a debtor, Mr. Lee, is posted as P1,000 instead of P1,100 in the trial balance.
Option 3: Sales of goods are recorded as purchases of goods in the ledger accounts.
Option 4: The purchase of fixture is recorded in furniture account.