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The Corporate Finance Institute Accounting
T-Accounts
To learn more, please In accounting, T-Accounts will be your new best friend. A T-Account is
check out our free online a visual representation of individual accounts that looks like a “T” so
accounting courses that all additions and subtractions to the account can be easily tracked.
Each separate account will have its own individual T-Account. A typical
View courses T-Account looks like the following:
T-Accounts Explained
The left side of the T-Account is always the debit side and the right side
is always the credit side no matter what the account is. For different
accounts, debits and credits can mean either an increase or a decrease,
but in a T-Account, the debit is always on the left side by convention.
Let’s take a more in-depth look at the T-accounts for different accounts
– assets, liabilities, and shareholder’s equity – which are the major
components of the Balance Sheet, or Statement of Financial Position.
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