Does work-in-process has a normal balance as a debit or credit
Inventory is an asset account. They normally have a debit balance.
COGS is expense account and all expenses has debit balance as default normal balance so COGS also has debit balance.
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
Debit
Does work-in-process has a normal balance as a debit or credit
Inventory is an asset account. They normally have a debit balance.
COGS is expense account and all expenses has debit balance as default normal balance so COGS also has debit balance.
debit balance
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
Debit
Drawings is a contra account. Debit is the normal balance of Drawing account.
Cash account has a debit as a normal balance so debit increases the cash account and credit reduces the cash account which is reverse of debit balance.
Cash account normally has debit balance.
Debit
debit
debit