Debit Side Items

Debit means an expense, or money, paid out from an account. For each account that is debited, another one is credited with the same sum. Followings are the items which are include in the debit side of the trading account
Opening Stock, Purchase, Purchase Returns, Direct Expenses,

Trading Account

Learning Objectives: Define and explain trading account. (What is trading Account ?) What are the items of a trading account. Prepare the format of trading account. What are advantages of trading accounting? Definition and Explanation: A trading account is an account which contains, ”