Can you give me a list of debit and credit items in trial balance?

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Trial Balance

Are 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.

Meaning

The term trial balance refers to 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 it’s 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 the trial balance

Generally, assets and expenses have a positive balance so they are placed on the debit side of the trial balance. An asset and expense increases when it is debited and vice versa

Exclusive List of Items

1. Land and Buildings
2. Plant and Machinery
3. Furniture and Fixtures
4. Office Tools and Equipment
5. Cash at Bank
6. Cash in Hand
7. Motor Van
8. Loss from the sale of fixed assets
9. Travelling charges
10. Printing and postage expenses
11. Legal expenses
12. Selling and distribution expenses
13. Sundry debtors
14. Bills receivables
15. Commission paid
16. Rent paid
17. Interest paid
18. Discount allowed
19. Opening stock
20. Purchases
21. Prepaid expenses
22. Advertisement expenses
23. Bad Debts
24. Wages and salaries
25. Bank charges

Items that appear on the credit side of the trial balance

Generally capital, revenue and liabilities have credit balance so they are placed on the credit side of the trial balance. The capital, revenue and liability increase when it is credited and vice versa.

Exclusive List of Items

1. Sundry Creditors
2. Bank Overdraft/Loan
3. Bills Payables
4. Sales (Revenue)
5. Purchase Returns
6. Common stock
7. Un-earned revenues
8. Retained earnings
9. Rent Received
10. Interest Received
11. Discount from Creditors
12. Discount on Purchases
13. Dividend Received
14. Interest on Drawings
15. Bad Debts recovered
16. Provision on Bad Debts (Cr.)
17. Apprentice premium
18. Miscellaneous/Sundry income
19. Commission received
20. Bank interest received
21. Compensation received
22. Outstanding income
23. Income from investments
24. Bonds payable
25. Other incomes