The T-Account After journal entries are prepared, the accountant posts (transfers) the dollar amounts to each account affected by the transaction.
{"Image DocumentName": "The T-AccountAfter journal entries are prepared, the accountant posts (transfers) the dollar amounts to each account affected by the transaction.", "Image ImageDescription": "One very useful tool for summarizing the transaction effects and determining the balances for individual accounts is a T-account, a simplified representation of a ledger account. On this slide we show the T-account for Cash and Common Stock. The beginning balances are carried forward from the previous period and are placed into the accounts for illustrative purposes only.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}