Chapter D, Problem 8E

To determine

T-Accounts: An account is a unique record of increases or decreases in any asset, liability, equity, revenues or expenses. T-accounts are drawn to resemble a T-shape with debit on the left and credit on the right. Assets and expenses have normally debit balances and liability, equity and revenue accounts have normally credit balance.

Trial Balance: The trial balance is prepared after all the transactions have been posted to the general ledger. The trial balance shows the list of all accounts shown separately in debit and credit balances and the total of all debits should be equal to the total of all credits.

To prepare:

the T-accounts for the given transaction.

To determine

T-Accounts: An account is a unique record of increases or decreases in any asset, liability, equity, revenues or expenses. T-accounts are drawn to resemble a T-shape with debit on the left and credit on the right. Assets and expenses have normally debit balances and liability, equity and revenue accounts have normally credit balance.

Trial Balance: The trial balance is prepared after all the transactions have been posted to the general ledger. The trial balance shows the list of all accounts shown separately in debit and credit balances and the total of all debits should be equal to the total of all credits.

To prepare:

Trial Balance of given company.