Question

The trial balance of Kelso Company had accounts with the following normal balances: Cash, $8,000; Accounts Receivable, $6,000; Equipment, $10,000; Accounts Payable, $9,000; Owner’s Capital, $15,000; Owner’s Drawings, $500; Service Revenue, $7,000; Rent Expense, $1,000; Salaries and Wages Expense, $3,000; and Advertising Expense, $2,500. In preparing the trial balance, the total in the debit column is

Answer 1

Answer:

Total debit column:   $  30,000

Explanation:

debit column will have the assets and expenses account plus drawins

that's because the accounting equation:

Assets + Expenses = Liabilities + Equity + Revenues

As drawins decreases equity they go into debit side.

debit column:

Cash                                             8,000

Accounts Receivable                 6,000

Equipment                                 10,000

Owner’s Drawings                          500

Rent Expense                                1,000

Salaries and Wages Expense      3,000

Advertising Expense                    2,500    

Total debit column:                   30,000