A T account
A group of T accounts
Any financial document
Another name for a trial balance
Put a name on each T account and enter their opening balances
Enter the transactions into the T accounts and calculate their final balances
Enter the opening balances and transactions into the T accounts
Enter the opening and closing balances into the T accounts
Assets and liabilities
Liabilities & owner's equity
Assets and owner's equity
Assets & revenue
All of the above
Debit cash, credit bank loan
Debit bank loan, credit cash
Debit cash, credit accounts payable
Debit bank loan, credit capital
Total debits would be $300 too high; total credits would be correct.
Total debits would be $600 too high; total credits would be correct.
Total debits would be correct; total credits would be $300 too low.
Total debits would be correct; total credits would be $600 too low.
The same as a balance sheet
A way to know you did everything correctly
The check column on the side of the transaction analysis sheet
A list of all accounts from the ledger with their balances
You forgot to enter an entire transaction into the T accounts.
You collected cash from a customer. You recorded it as debit accounts receivable $200, credit cash $200.
You paid a supplier what you owed. You recorded it as debit accounts payable $150, debit cash $250.
The owner invested $1,000 in the business. You recorded as $100 in each of the two affected accounts.