Stock

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi

I need some help regarding stock.

I will have purchased stock in Feb so will have closing stock but not opening stock.

what are the double entries?
do I debit the balance sheet with stock (Asset)and credit P & L

then in March the opening balance will be the balance b/fwd?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Stock

    You've got it - that's the exact journal entry.

    Annette
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Stock

    cheers!

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