- 1 Marks
Question
Which of the following items is NOT found on the debit column of a trial balance?
A. Capital
B. Motor vehicle
C. Rent
D. Salaries and wages
E. Postage and stationery
Answer
A. Capital
Explanation:
In a trial balance, the debit column includes all assets and expenses. Items like motor vehicles, rent, salaries and wages, and postage and stationery are expenses or assets that would appear on the debit side. However, capital represents the owners’ equity and is recorded on the credit side of the trial balance, as it indicates the funds invested in the business by the owners
- Tags: Accounting principles, Debit Column, Trial Balance
- Level: Level 1
- Topic: Trial Balance: Usefulness and Limitations
- Series: NOV 2015
- Uploader: Dotse