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trial balance

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › trial balance

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by John Moffat.
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  • January 6, 2019 at 3:42 pm #500191
    faablue23
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    how to identify credit and debit in a trial balance
    is sales credit or debit
    if debit means money in then why is salaries and wages in the debit when it should have been credit
    why is purchase in debit???

    January 6, 2019 at 6:40 pm #500205
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51529
    • ☆☆☆☆☆

    Sales are a credit balance because it is income.
    Salaries and wages are debit balances because they are expenses.

    Credits are income or liabilities.
    Debits are expenses or assets.

    I would suggest that you watch my free lectures. All of this is explained in detail in the lectures.

    The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

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