debit buddy
Debit
No, inventory is an assets, which normal balance is a debit.
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Inventory is an asset account. They normally have a debit balance.
Debit
Debit
No, inventory is an assets, which normal balance is a debit.
Opening inventory Debit Cost of Sales Credit Inventory - balance sheet Closing inventory Debit Inventory - balance sheet Credit Cost of Sales An opening inventory is a debit as it is an increase is expenses as the opening inventory is expected to be sold in the coming accounting period. and any thing that is spent to provide goods or services to a customer is an expense.
If the inventory is fiananced it is debit... If you own it is credit...
Inventory is an asset, and so it is a debit to increase, and a credit to decrease.
Inventory is an asset account. They normally have a debit balance.
Work in Process is considered an asset because it is inventory. Assets have a debit normal balance. adding materials to work in process is a debit to work in process.
debit
DEBIT
credit
it is a debit balance because it decreases owner's equity, which has credit balance.