Discuss the format of the t account. What exactly does it represent

Discuss the format of the t account. What exactly does it represent

Discuss the format of the t account. What exactly does it represent? What is it used for? What are the limitations?

Response must be at least 150 words, substantive, relevant, and posted by the due date. Open-ended questions to classmates or instructor do not count.

 

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T account is an account which is a visual aid and is used to depict an account which is in a general ledger. The account title is placed above at the top of T.  Therefore on the left side of the T could be debit amounts while on the right side is the credit amounts.

This kind of account is used in determining the correct balance for a given account, it can also be used to determine a given amount to be recorded in order to arrive at an expected balance. It is also noted that every transaction or an adjustment……………………….

APA

195 words