Question

which items are in the debit side of trading account and which are in credit side of trading account briefly explain​

Answer 1

Answer:

DEBIT SIDE

TO OPENING STOCK    

TO PURCHASES

 (-)PURCHASES RETURNS

TO DIRECT EXPENSES  

(EXPENSES RELATING TO

PURCHASES AND PRODUCTION)

TO CARRIAGE INWARDS

TO FREIGHT  CHARGES

TO WAGES

TO MANUFACTURING EXPENSES

TO FACTORY EXPENSES

TO CUSTOM DUTY

TO COAL ,GAS,WATER ,POWER,FUEL,ETC

TO PROFIT &LOSS

(GROSS PROFIT TRANSFERED)

             

Explanation: