Regarding T-accounts, which of the following statements is correct?
Regarding T-accounts, which of the following statements is correct?
A. Debits are posted on the right side of the vertical line.
B. A T-account is a summary device with credits posted on the right side of the vertical line.
C. The right side of a T-account is a debit for asset accounts and a credit for equity accounts.
D. A T-account is a more detailed form of an account in the journal.
Homework Answers
Option B
T account is a summary device credits posted on the right side of the vertical line
In a T Accounts, Debits are posted in left side of T Accounts or verticle line, whereas credits are posted on right side of T accounts or verticle line.
so answer is Option B)
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