1. T Accounts

2. A page in the General Ledger for each account

15. “T” accounts are a poor man’s version of General Ledger accounts the “T” corresponds to the Debit and Credit columns in the Gen Ledger account

17. so in accounting classes we use we record entries in“T” accounts rather than actual General Ledger accounts

18. transactions prior to opening the store

27. Sweet Temptations the STORE is open for business

45. end of period any adjustments to the accounting records

50. now let’s go back and add up each account and see how much we have in each account

60. we can use these account balances to produce a trial balance

61. a trial balance is nothing more than a listing of all the accounts and the balance in each account

63. We can use the balances from the trial balance to produce financial statements income statement statement of owners’ equity balance sheet