T Accounts Explained | Accounting How To | How To Pass Accounting Class

T Accounts Explained | Accounting How To is an accounting tutorial that explains T Accounts, answering the questions: What is a T Account? How does a T Account Work? What are T Accounts used for? It provides examples of common transactions and shows how analyzing transactions using T accounts works. It shows sample T accounts and a trial balance example. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of two playlist series: Accounting Basics for Business Owners and How to Pass Accounting Class. ⏰ Accounting How To Time Stamps 00:00 Introduction to T Accounts 00:36 What is a T Account? 01:21 How does a T Account Work? 01:52 T Account Example 02:09 What T Accounts are used for? 02:20 Normal Balances & Debit and Credit Rules 02:54 Assets, Expenses, Dividends, Liabilities, Revenue, Equity 03:34 Helpful tool to remember normal balances 04:09 Example #1 Expense and Cash 05:57 Example #2 Cash and Revenue 07:00 Example #3 Owner’s Investment 08:36 Example #4 Owner’s Draw 10:39 How to figure balances on T Accounts 11:40 Using a Trial Balance