T-Account

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August 31, 2024 3 min read Definitions

Accounting Finance T-Account Double-Entry Bookkeeping Ledger Debit Credit

A T Account is a foundational tool in accounting represented by a T-shaped form where debits are recorded on the left-hand side and credits on the right-hand side. This structure is fundamental for understanding ledger entries and double-entry bookkeeping.

August 25, 2024 3 min read Definitions

T-Account: An Essential Tool in Accounting

Accounting Finance T-Account Accounting Basics Debits and Credits Double-Entry System Financial Statements

A T-Account is a visual aid used in accounting to depict the effects of transactions on an account. It uses two perpendicular lines shaped like the letter 'T', with debits on the left and credits on the right.