- 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 and rates
D. Salaries and wages
E. Postage and stationary
Answer
A. Capital
Explanation:
Capital is a credit entry on the trial balance. The trial balance records the closing balances of ledger accounts, and capital represents the owner’s contribution to the business, which is always on the credit side.
- Topic: Introduction to Taxation
- Series: NOV 2020
- Uploader: Dotse