Question

The balances of all assets accounts, expenses accounts, losses, drawing are placed in the __________ of the trial balance.

• A. credit column
• B. debit column
• C. ledger folio
• D. none of the above

Answer 1

Answer: (B)

debit column

There are golden rule of accounting for recording the transactions based on the type of account i.e personal a/c, real a/c and nominal a/c.

Based on such rules of accounting, assets account, expenses account, losses and drawings are always have a debit balance. Hence while preparing the trial balance, all such accounts are placed in the debit column of the trial balance.