Asked Dec 15, 2019

What is a T-account? On which side is the debit? On which side is the credit? Where does the account name go on a T-account?


Expert Answer

Step 1

Debits are recorded on the left and credits are recorded on the right side of a T-account with the name at the top.

Step 2

T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of t...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in



Financial Accounting

Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: 3. AP Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting ...

A: Prepare the sales budgets for the year.


Q: Identify the errors in the following schedule of the cost of merchandise sold for the year ended May...

A: Identify the errors associated in the given schedule of the cost of merchandise sold for the year en...


Q: Data on the physical inventory of Katus Products Co. as of December 31 follow: Market Value per Unit...

A: Determine the value of inventory using first in first out method under lower-of-cost or market inven...


Q: 23. A principal objection to the straight-line method of depreciation is that it A) tends to result ...

A: Straight-line Depreciation: Under the straight-line method of depreciation, the same amount of depre...


Q: Key success factors.  Dominic Consulting has issued a report recommending changes for its newest man...

A: Click to see the answer


Q: Equipment was purchased for $150,000 on July 1, 2020. Freight charges amounted to $7,000 and there w...

A: Since the asset has been put to use on Oct 1, so for 2020, depreciation for only 3 months needs to b...


Q: Beginning inventory, purchases, and sales for Item Foxtrot are as follows: Mar. Inventory 270 units ...

A: a & b. Calculate the cost of merchandise sold and ending inventory.


Q: During 20Y5, the accountant discovered that the physical inventory at the end of 20Y4 had been under...

A: Click to see the answer


Q: During the taking of its physical inventory on December 31, 2019, Waterjet Bath Company incorrectly ...

A: Inventory error:Inventory errors are sometimes caused by making mistake, in physical count, in prici...