Sapna Takia In: Category - Accounting InterviewsCan you give me a list of debit and credit items in trial balance?debit and creditlisttrial balance ShareFacebook1 AnswerVotedRecent Dheeraj 2020-07-24T19:01:20+05:30Added an answer on July 24, 2020 at 7:01 pm This answer was edited. Trial BalanceAre you facing difficulty in understanding the crux of the trial balance? I would like to help you by providing the meaning followed by items to be included on either side of the trial balance.MeaningThe term trial balance refers to as the total of all the general ledger balances. It is a statement prepared at a certain period to check the arithmetic accuracy of the accounts (i.e., whether they are mathematically correct and balanced). It contains a list of all the general ledger accounts.Trading account, Profit and Loss account and Balance Sheet are prepared according to the ledger balances as posted in the trial balance.Now its time to learn about the various items which are placed on either side of the trial balance.Items that appear on the debit side of trial balanceGenerally, assets and expenses have a positive balance so they are placed on the debit side of trial balance. An asset and expense increases when it is debited and visa versaExclusive List of ItemsLand and BuildingsPlant and MachineryFurniture and FixturesOffice Tools and EquipmentCash at BankCash in HandMotor VanLoss from the sale of fixed assetsTravelling chargesPrinting and postage expensesLegal expensesSelling and distribution expensesSundry debtorsBills receivablesCommission paidRent paidInterest paidDiscount allowedOpening stockPurchasesPrepaid expensesAdvertisement expensesBad DebtsWages and salariesBank chargesItems that appear on the credit side of trial balanceGenerally capital, revenue and liabilities have credit balance so they are placed on the credit side of trial balance. The capital, revenue and liability increases when it is credited and visa versa.Exclusive List of ItemsSundry CreditorsBank Overdraft/LoanBills PayablesSales (Revenue)Purchase ReturnsCommon stockUn-earned revenuesRetained earningsRent ReceivedInterest ReceivedDiscount from CreditorsDiscount on PurchasesDividend ReceivedInterest on DrawingsBad Debts recoveredProvision on Bad Debts (Cr.)Apprentice premiumMiscellaneous/Sundry incomeCommission receivedBank interest receivedCompensation receivedOutstanding incomeIncome from investmentsBonds payableOther incomes 0Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerCancel replyYou must login or register to add a new answer.