One of the items on the credit column of a trial balance ...
One of the items on the credit column of a trial balance is
Returns outwards
Carriage outwards
Returns inwards
Carriage inwards
Correct answer is A
The rule of a trial balance is :
- debit all expenses and assets
- credit all income and gain and liabilities
Returns outwards is the total value of goods returned to suppliers out of the goods bought and it is also known as purchases returns. Therefore, returns outwards will be credited to the trial balance.
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\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hlin...