The debit balances of various accounts in trial balances represent:

(i)    Assets and deferred revenue expenditure accounts which are shown in the assets side of the balance sheet and

(ii)    Losses and expenses nominal accounts which are transferred to the debit side of a manufacturing or trading or profit and loss account as the case may be

The credit account balances in the trial balance represent:

(i)    Capital, liabilities, provisions and reserves accounts which are entered in the liabilities side of the balance sheet and

(ii)    Revenue and gains nominal accounts which are credited to manufacturing or trading or profit and loss account as they case may be.

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