Which of the following items is found on the debit side o...
Which of the following items is found on the debit side of the trial balance?
Provision for doubtful debts
Discount allowed
Discount received
Returns outwards
Correct answer is B
It has our assets, expenses, and drawings on the left (the debit side). The discount allowed is an expense and it is posted on the debit side of the trial balance.
The objectively of accounting information is enable users to ...
Given: PTF Trial Balance [Extract] as at 31 December, 1999 Dr Cr N'000 N '000 Cash 2,0...
\(\begin{array}{c|c} & ₦\\ \hline \text{Opening stock} & 40,000\\ \text{Purchases} & 1...
Opening balance 10,640 Purchases ...
The major focus of the trading account is to show ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \t...
........................1/7/2005............30/6/2006 Drawings......................................