Recording Transactions


Transactions occur in the normal course of business and are recorded. Transactions affect both sides of the accounting equation.

Transactions are recorded into accounts known as "T Accounts." This is because the increases and decreases in the account amounts are listed in a T structure. In a T structure, the left side is considered the debit side, and the right side is considered the credit side. Figure E-2 summarizes the T structure of Asset, Liability, and Owners' Equity accounts.

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Figure E-2: T Accounts




Mastering Business Analysis with Crystal Reports 9
Mastering Business Analysis with Crystal Reports 9 (Wordware Applications Library)
ISBN: 1556222939
EAN: 2147483647
Year: 2004
Pages: 177
Authors: Chris Tull

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