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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