The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side. To indicate: Posting of the November transaction in T shape accounts.

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Answer 1

Question

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

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Answer 2

Question

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Expert Solution & Answer

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Answer 4

Question

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Answer 6

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Answer 7

Chapter 2, Problem 1.1GBP

To determine

Concept introduction:

The simplest form of accounts is maintained in T like shape in this the account title and accounts name appear on T shape. Debits always go on the left side and credit always goes the right side. Therefore, assets and expenses go on debit side. Liabilities and income always come on credit side.

To indicate:

Posting of the November transaction in T shape accounts.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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Solution Summary: The author explains that the simplest form of accounts is maintained in T like shape. Debits always go on the left side and credit always goes the right side.

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