T Account to which Statement?

This topic has 1 reply, 2 voices, and was last updated 13 years ago by danielglover.

Viewing 2 posts - 1 through 2 (of 2 total)

Author

Posts
February 6, 2013 at 11:04 am #114751
essem
Member
- Topics: 14
- Replies: 73
Hi

Is there an easy way to remember which T accounts relate to which financial statement, i.e.e income statement or balance sheet?
February 6, 2013 at 10:04 pm #115082
danielglover
Member
- Topics: 13
- Replies: 100
When doing T-accounts, get into the habit of putting I/S or BAL at the side of the title. As always, at the year-end the I/S accounts need to be brought to zero and the BAL accounts are left with a balance.

Hope this helps.
Author

Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.