Question
Which among the following will be shown as the debit balance in a trial balance?
The correct answer is
Interest paid
The correct answer is option 1. Interest paid is a type of expense and appears on the debit side of the trial balance. Expenses are debited because they reduce the capital or net worth of the business.
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Important Questions from Balance sheet statement
___________ is a record of assets and liabilities of any firm.
A businessman can find out what his business owns and what it owes from _______.
Which of the following options is an INCORRECT pair considering a firm's balance sheet?
A trial balance shows
(i) Credit balances
(ii) Debit balances
Which of the following pairs is NOT correctly matched in the context of account balances shown in the Trial Balance?
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