What accounts do we find in trial balance?
Debit Side |
Credit Side |
All Assets (Cash in hand, Cash at Bank, Inventory, Land and
Building, Plant and Machinery etc.) |
All liabilities ( Bank Overdraft, Secured and unsecured loans,
bills payable, Outstanding Payables or expenses, Loan on mortgage etc. ) |
Sundry Debtors |
Sundry Creditors |
Expenses (Carriage Inward, Freight, Rents, rebates and rates,
Salary, Commission etc.) |
Reserve fund, general reserve, provision for depreciation,
Accumulated depreciation etc. |
Purchases |
Sales |
Losses (Depreciation, Return inwards, Profit and loss A/c
(Dr.), Bad debts etc.) |
Gains (Discount received, Return Outwards, Bad debts recovered,
Profit and Loss (Cr.) etc.) |
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