T-Accounts: A Great Tool for Solving Accounting Transactions
T-Accounts Defined A T-Account is a template or format shaped like a “T” that represents a particular general ledger account. Debit entries are recorded on the left side of the “T” and credit entries are recorded on the right side of the “T”. It is a...
Equity Accounts – It’s Your Money
Equity is the difference between assets and liabilities as shown on a balance sheet. In other words, equity represents the portion of assets that are fully owned by the owners (stockholders, partners, or proprietor) of a business. When I prepare financial...
