PDA

View Full Version : Trial balance


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