1001
Stock
Current Assets
Normal balance
Debit
This records the value of goods held for resale or use in production that haven't yet been sold or consumed. As an asset it normally carries a debit balance, increasing as stock is purchased or produced and decreasing as it's sold or used.
Other codes in Current Assets
| 1002 | Work in Progress |
| 1003 | Finished Goods |
| 1004 | Raw Materials |
| 1100 | Debtors Control Account |
| 1101 | Sundry Debtors |