When total of debit column is higher than the credit column, the trial balance is closed by showing suspense account in which column?

Debit

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Credit

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As an accountant of a company, you are disappointed to learn that the totals in your new trial balance are not equal. After going through a careful analysis, you have discovered only one error. Specifically, the balance of the Office Equipment account has a debit balance of Rs. 15,600 on the trial balance. However, you have figured out that a correctly recorded credit purchase of pen-drive for Rs 3,500 was posted from the journal to the ledger with a Rs. 3,500 debit to Office Equipment and another Rs. 3,500 debit to creditors accounts. Answer each of the following questions and present the amount of any misstatement :

(a) Is the balance of the office equipment account overstated, understated, or correctly stated in the trial balance?

(b) Is the balance of the creditors account overstated, understated, or correctly stated in the trial balance?

(d) Is the credit column total of the trial balance overstated, understated, or correctly stated?

(e) If the debit column total of the trial balance is Rs. 2,40,000 before correcting the error, what is the total of credit column.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. Fill in the blanks with correct alternative and rewrite the statements :

Drawings account appears in ________ column of the trial balance.
a) L.F
b) debit balance
c) credit balance
d) none of these

A suspense account of a business shows a debit balance of Rs 1075. Rectify the following errors and bring the suspense account to zero balance.

1) Machinery account has been under balanced by Rs 950.
2) Our debtor Hari’s account has been balanced by excess amount Rs 75.
3) The total of purchase book is over cast by Rs 125.
4) The total of sales return book is under cast by Rs 205.
5) Cash column of the cash book has been balanced short by Rs 120.

When total of debit column is higher than the credit column, The trial balance is temporarily balance by showing suspense account in _____ Column

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