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akilah
Mar 19, 2009, 04:14 PM
where do i place my stock on hand in my trial balance.
which account to i debit and credit for this transaction.
Imran2008in
Mar 19, 2009, 11:40 PM
stock on hand will b on Debit side of trial balance.
in inventory account it will be debited.
pready
Mar 20, 2009, 04:54 PM
What kind of stock?

Common Stock has a normal Credit Balance and is an Owners' Equity Account

Inventory has a normal Debit Balance and is a Current Asset