[accounts1]

What are the contents that should appear on the debit and credit sides of the trial balance?

[morgaine300]

The accounts with normal debit balances are on the debit side, and the accounts with normal credit balances are on the credit side. That might sound over-simple, but that's what it is. No one can tell you every single account that might exist and just list them.

The key there is knowing what the normal balances of the different accounts are, cause a trial balance is just a listing of all the accounts with their ending balances. (In real life, it's just copying from the ledger, requiring no brain work - just paying attention to what you're doing. In problems, they can give you anything that isn't necessarily realistic, so it might not be that simple.)

If you do not know your normal balances, you absolutely must learn them. That is the key to understand how to do entries as well as other stuff. The "normal" balance is the positive side of the account and is also the side it's on in the accounting equation, which is what this is based on. (Debit and credit just mean left and right, referring to the side they are on.) I will list the positive (normal) side of each of the five classifications of accounts:

Assets - debits
Liabilities - credits
Equity - credits
Revenue - credits
Expense - debits

But that's only getting started. You need to know what classification an account fits into, and know what contra accounts are. But there are quite literally hundred's of accounts, especially considering the same account can be given different names.

You'll have to ask specific questions if you need help understanding all that cause it's a big subject.

[ahsan2000pk]

What is equity in trail balance

[ahsan2000pk]

Equity means

[ahsan2000pk]

Quuity

[ahsan2000pk]

:)

what is equity in trail balance