Posting transactions to T-accounts involves: a. Preparing a chronological record of all transactions affecting the company. b. Analyzing source documents to determine the effects of transactions on the company's accounts. c. Listing all accounts and their balances at a particular date to ensure that debits equal credits. d. Transferring debit and credit information from the journal to the accounts in the general ledger.

Question

Mylie Burnett

Business

24 February, 20:06

Posting transactions to T-accounts involves: a. Preparing a chronological record of all transactions affecting the company. b. Analyzing source documents to determine the effects of transactions on the company's accounts. c. Listing all accounts and their balances at a particular date to ensure that debits equal credits. d. Transferring debit and credit information from the journal to the accounts in the general ledger.

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Answers (1)

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Frankie Thornton · Answer 1

The correct answer is letter "C": Listing all accounts and their balances at a particular date to ensure that debits equal credits.

Explanation:

T-Accounts is a method of recording transactions in the general ledger where A "T" is drawn. At the top of the "T" appears the name of the account affected and to the sides, the debit and credit balances that are compared and eventually their independent sums must equal.