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What is the normal balance of the merchandise inventory account?
Wiki User
∙ 13y ago
Merchandise Inventory is an asset account, so the normal balance is Debit.
Wiki User
∙ 13y ago
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Normal balance for merchandise inventory?
debit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
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.
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
Which of the following accounts has a normal credit balance.. a. Merchandise Inventory b. Delivery Expense c. Sales Returns and Allowances d. Sales?
d. sales
Normal balance for merchandise inventory?
debit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
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.
Does inventory normally have a credit balance?
No, inventory is an assets, which normal balance is a debit.
Which of the following accounts has a normal credit balance.. a. Merchandise Inventory b. Delivery Expense c. Sales Returns and Allowances d. Sales?
d. sales
What accounts has a normal debit balance a Merchandise Inventory b Delivery Expense c Sales Returns and Allowances d Sales?
Sales Returns and Allowances
What is the normal balance of a withdrawal?
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
The term inventory indicates?
Merchandise held for sale in the normal course of business
What is the normal account balance of Income Summary?
It has no normal balance.
What is the normal balance of drawing?
Drawings is a contra account. Debit is the normal balance of Drawing account.
What does it mean if an account has an exceptional balance?
From the grade 11 text book, occassionally an account that would normally have a debit balance, ends up having a credit balance or vise versa not because of a mistake. There is a reason the account ends up with opposit of the normal, for example, if you over pay an account payable, or a customer returns unsatisfactory merchandise for credit.
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
