1
Is it true that the trial balance totals should agree?
(A) No, there are sometimes good reasons why they differ
(B) Yes, except where the trial balance is extracted at the year end
(C) Yes, always
(D) No, because it is not a balance sheet
2
You are to enter up the necessary accounts for the month of May from the following information
relating to a small printing firm. Then balance off the accounts and extract a trial balance
as at 31 May 2008.
2008
May 1 Started in business with capital in cash of £800 and £2,200 in the bank.
2 Bought goods on credit from the following persons: J Ward £610; P Green £214;
M Taylor £174; S Gemmill £345; P Tone £542.
4 Sold goods on credit to: J Sharpe £340; G Boycott £720; F Titmus £1,152.
6 Paid rent by cash £180.
9 J Sharpe paid us his account by cheque £340.
10 F Titmus paid us £1,000 by cheque.
12 We paid the following by cheque: M Taylor £174; J Ward £610.
15 Paid carriage by cash £38.
18 Bought goods on credit from P Green £291; S Gemmill £940.
21 Sold goods on credit to G Boycott £810.
31 Paid rent by cheque £230.