T-account

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T-account (alternatively spelled as T account; hereinafter, the Account) is a skeleton version of a ledger account that is used for demonstration purposes.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

T account. A skeleton version of a standard account used for demonstration purposes.

According to Principles of Economics by Timothy Taylor (3rd edition),

T-account. A balance sheet with a two-column format, with the T-shape formed by the vertical line down the middle and the horizontal line under the column headings for "Assets" and "Liabilities."

Related concepts

Related lectures