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What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
Normal balance for merchandise inventory?
debit
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
Merchandise inventory is classified on the balance sheet as a?
Current Asset
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What type of account is Merchandise Inventory?
Merchandise Inventory is an asset account that shows up on the balance sheet.
Normal balance for merchandise inventory?
debit
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
How is merchandise inventory classified on the balance sheet?
As a current asset
Merchandise inventory is classified on the balance sheet as a?
Current Asset
Where is the amount of merchandise inventory disclosed in the financial statements?
Amount of merchandise inventory is disclosed at the bottom of the financial statement under balance sheet.
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
Merchandise inventory is reported as a long-term asset on the balance sheet?
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What financial statement does merchandise inventory at end of period go on?
Closing merchandise inventory belongs on both the income statement and the balance sheet. On the income statement, it is included under Cost of Goods Sold; on the balance sheet it is categorised under Current Assets.
Is merchandise inventory is a long-term asset on the balance sheet true or false?
False
Merchandise inventory has a normal debit balance?
Mechandise inventory is a current asset which is used in manufacturing of units of products or resale purpose that's why it is asset of business and has debit balance as normal balance.
