Chapter 4, Problem S4.10SE

To determine

Introduction: In accounting, we prepare accounts for each item. The ledger account, thus prepared resembles the letter “T”. Hence, it is called the T-account. Generally, journal entries are passed first and then the accounts are posted in the ledger to the respective accounts. Debit entries are posted to the left and credit entries to the right of the T-accounts. In double entry accounting, T-account shows how one side of an accounting transaction is affected and reflected in another account.

1. The T-account for each account given and to denote its adjusted balance as Adj. Bal.

2. The posting to the accounts should be denoted by Clos.

3. Calcualting ending balance of Kaufman capital.