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T-Accounts is very important topic in accounting subject. The concept behind T-Accounts to make effective presentation of debit and credit side on two sides of accounts. We at Exertsmind.com offer T-Accounts accounting assignment help, T-Accounts accounting homework help and projects assistance with live online accounting experts. We provide best possible answers for your T-Accounts problems. We make easy theory and concept of T-Accounts. Get solved T-accounts accounting problems from qualified and experienced experts.

T ACCOUNTS

T account is presentation of the effects of Dr and Cr side on the two sides of the accounts .it is just to use it for the ease of seeing the effects of the transaction

Example

T account will show the increase or decrease in the accounts that is whether account is debited or credited after taking the effect of the transaction

It is just kike the ledger account but it doesn’t formally follow the columnar form of presentation.

It avoids date just to see the debit and credit effects of the entry

If the cash is received it will be posted on the Dr Side of the T account as it is an increase in asset account

If the cash is paid to A Cr side of the account will have that effect because asset account is decreased

These effects are taken easily in T accounts.

• In case of liability if the liability is increased account will be Cr

• In case of decrease in liability account will be Dr

The most important objective is to calculate the balancing figure in the accounts that may be an

• Opening balance

• Closing balance

It depends upon the nature of the data given. Students and professional use it for an informal working of the ledger accounts.