Can someone explain to me how to make a T account?

Q: What entry would you use to account for the initial transaction?

A: The accounting process consists of various steps to record, analyze and report the data.

Q: IF YOU ARE GIVEN OPPORTUNITY TO CHOOSE TO OPEN AN ACCOUNT, WHICH WILL YOU PREFER AND WHY?

A: A bank account is the account in which a person can deposit and withdraw his or her money. In order…

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A: Accounts Payable is a current liability which represents the debt owed to sundry creditors of firm…

Q: what is a t account

A: Accounting is the art of classifying, recording, summarizing, and interpreting the financial…

Q: What exactly is a real account?

A: There are basically three account types in accounting, that are real account, nominal account and…

Q: What do accounts do?

A: Accounts of a business are used to record for all the transactions of the business. All relevant…

Q: 1. What are the advantages of the use of a ledger? 2. What are the steps in posting from Journal to…

A: Introduction:- Ledger is a collection of all accounts debited and credited in the journal. It assist…

Q: Ms. Andrews is a customer of the Edsell Company. In the object-oriented design approach   A. Ms.…

A: Object-oriented design approach - The same tool used to integrates accounting structures and…

Q: How do debits and credits work

A: Debit and credit entry are part of double entry book keeping system. This is used to make an entry…

Q: What are the accounts written off? Explain with example?

A: Accounts written off means those debtors or accounts receivables from which money can no longer be…

Q: How would the T Account look?

A: T account is the account which is made by the company for each account in which all the transactions…

Q: this in DIRECT METHOD with schedule of T-ACCOUNTS. Thank you so much. I need to pass this tonight

A: Cash flow analysis is important for the business since it allows the business to assess the amount…

Q: which one of the following accounts normally has a credit balance? A. Drawings  B. Capital C.…

A: Account: It can be defined as a record in the general ledger that is used by the business to sort…

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A: Before preparing the Income Statement let us prepare proper Trial Balance to…

Q: (a) Describe the detail of the transaction being performed in the following screen. (b) Give the…

A: The description of detail of the transaction being performed in the screen is presented hereunder :…

Q: What is meant by reconciling an account?

A: 1. Usually, an account has a lot of transactions in a particular year. As accountant and auditors,…

Q: Find the new balance if Vanessa's account

A: Revolving credit account :- Revolving credit account simply is a credit card. In case of emergencies…

Q: How does 'Closing accounts and seeing all bills are paid' help in closing a project

A: Closing Entries - Closing entries are required to close the temporary accounts after making…

Q: When can a QuickBooks List be updated?

A: The question is related to updating the quickbooks software. QuickBooks is an user friendly…

Q: need help with T account balance. How do you total T accounts?

A: T- account is defined as the set of the financial records which uses the double entry bookkeeping…

Q: ee the image below.  Please provide some solutions so that I can verify that I solved the  problem…

A: Solution: We are required to find the account receivable from Silang From the comment received from…

Q: Define the following using your own words and give examples Account T-account To debit

A: As per the guidelines, only three subparts are allowed to be solved. Please resubmit the remaining…

Q: Solve question With given worksheet Also another question what accounts are to be credited and…

A: Solution- Date Particulars Amount Amount A       may 1 petty cash--------------------------DR…

Q: How do you adjust this accoun

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Q: How do I journalize and find which number goes where?

A: Bonds Payable: Bonds payable are generated when a company issues bonds to generate cash. As a bond…

Q: Please help me answering this in DIRECT METHOD with T-ACCOUNTS. I already have an answer in Indirect…

A: Cash flow statement is the financial statement including only the inflow and outflow of cash from…

Q: What is the chart of the account? Explain?

A: A chart of accounts is a listing of the names of the accounts that a company has identified and made…

Q: where in quickbooks will i enter it

A: In the Quickbooks, entry as per solution has to be done but the process of recording is as below:

Q: make T accounts

A: T accounts are the classified accounts under which all the recorded journal entries are posted. This…

Q: hey appe

A: The debit balance is the amount of cash the customer something that is essential to have  in the…

Q: lo can i get help with something

A: All accounting related queries and question solutions are been provided.

Q: ne please answer this quickly? Thank

A: Inflation destroys the purchasing power of the future bond of the bond. Simply put, when the current…

Q: Why would the GST clearing account have a debit balance?.

A: GST means goods and service tax, which is charged by seller to customer and seller needs to pay it…

Q: How to write notes on the account equation

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Q: Which of the following accounts would be increased with a Debit? (check all that apply) Land…

A: In double entry system of accounting, every financial transaction is posted into debit and credit…

Q: What does a T-account represent? What is the left side of the T-account called? What is the right…

A: Meaning of Ledger Ledger is also called as Book of secondary entry as all the transactions that are…

Q: 1. When would you choose to give a refund after creating a Credit Memo?

A: Answer: As per Q/A guideline, first question has been answered. Please repost remaining question.…

Q: a) Prepare the Capital Account b) Prepare the Realization Account c) Prepare Linda Co. Account d)…

A: The question is based on the concept of Partnership Accounting.

Q: a) (Note: account numbers are not required, just use account names.)

A: Given: To explain the transaction performed on the screen and the journal entry is shown as,

Q: Define the followings? a. Real Account. b. Temporary Account.

A: a.Real Account:Real accounts are a general ledger account that does not close during the accounting…

Q: For each account, identify if the change would be recorded as a debit (DR) or credit (CR).

A: 1. For Assets: An increase in assets will be recorded as a debit (DR) A decrease in assets will be…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.