[hazmat]

Ok, listen I'm taking my first accounting class and we have our second assignment and since I'm taking distance learning classes I don't really have the opportunity to ask my instructor for help. I hope any of you can help me figure out how to write an account balance for T accounts and Unadjusted trial balance.

[answersplease]

T account is just used for debit credit columns. Ex. If you are putting money in your bank account you would debit cash (bank account) and you would credit the account the money will go to such as rent. All debits must equal credits. With a t account you can see the differences easier. Hope this helps. If you ask a more specific question I can answer it for you,

[monikathakuri]

Accounting requires very specific methods of recording transactions. Generally, transactions are recorded through the use of accounts. These accounts are actually places within accounting systems in which changes in assets, liabilities, owner's equity, revenues, and expenses are recorded. The changes reflect increases or decreases in these accounts over a given time.

In its simplest form, an account looks very much like the letter "T", hence the name "T-Account"



"Account Name"

Debit Credit




The left side of the T-Account is called the debit side, while the right side is called the credit side. Therefore, if we enter amounts on the left side, we are debiting; on the right side we are crediting.

Debits and Credits have opposite effects. Depending on the type of account, one will cause an increase, the other a decrease and vice versa. To explain further, here are the debit and credit rules:



For Assets


Debit for Increase l Credit for Decrease



=

For Liabilities


Debit for Decrease l Credit for Increase



+

For Owner's Equity


Debit for Decrease l Credit for Increase

[rehmanvohra]

Ok, listen I'm taking my first accounting class and we have our second assignment and since I'm taking distance learning classes I don't really have the opportunity to ask my instructor for help. I hope any of ya can help me figure out how to write an account balance for T accounts and Unadjusted trial balance.

Whether you are taking regular classes or distant learning courses. You must have the relevant text book with you. Please do read the chapter on recording transactions, you will find your answer.

[morgaine300]

All irrelevant since the thread's two years old and some newbie dragged it back up. :-)

[rehmanvohra]

Hazmat, please read the relevant chapters from the following website:

Principles of Accounting

[rehmanvohra]

Hazmat, please read the relevant chapters from the following website:

Principles of Accounting