Anyone know anything about Accounting??

Question

I NEED all the information anyone knows about "T" Accounts for Accounting...PLEASE HELP!!

I need examples of a "t" account

I no what it is...I NEED EXAMPLES. anyone know of any websites

Answer 1

"T" accounts are used to help you determine the flow of money and the balances of accounts. Generally, the top of the "T" lists the account and the blank spaces on either side of the center line and below the top line are credit and debit.

Without further information, this is just about the entire explanation. Good luck!

Answer 2

Well T-accounts are basically ledger accounts.They are made out of the general journal.They too have a debit and credit side like the general journal.All accounts are seperately put under a T-account each and then each t-account is balanced.Then These T-accounts balances are used to make the trial balance in order to complete the journal-ledger-trial balance cycle.

Answer 3

T accounts. Well, looking back to my accounting classes in college,
I am pretty sure that T accounts are called that because of their "T" formation. I think one side had debits and the other side had credits. Remember though, credits and debits in accounting can be completely backwards from what the every day world thinks credits and debits are. It all depends on the type of accounts you are setting up.

Answer 4

T Accounts are 'scratch pad' accounts something like your ledger accounts used to do scratch pad work in accounting whenever it happens like reconciling or balancing etc;. There is no special books for this except your scratch pad.

Answer 5

I don't think you need to go as far as looking for websites for examples. You could draw them up yourself as it is very simple. Anyway, the pdf link should give you an example of it.