Difference between revisions of "T-account"
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| − | [[T-account]] (alternatively | + | [[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== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[T account]]. A skeleton version of a [[standard account]] used for demonstration purposes. | + | :[[T account]]. A skeleton version of a [[ledger account|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 concepts== | ||
*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | *[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws. | ||
| − | ==Related | + | ==Related lectures== |
*[[Bookkeeping Quarter]]. | *[[Bookkeeping Quarter]]. | ||
| − | [[Category: Septem Artes Administrativi]][[Category: Articles]] | + | [[Category: Economics]][[Category: Septem Artes Administrativi]][[Category: Articles]] |
Latest revision as of 11:31, 1 June 2020
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
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
