- This topic has 13 replies, 9 voices, and was last updated 9 years ago by
ScarletKnightCPA.
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May 9, 2016 at 1:32 am #201869
Dantrick
ParticipantThere are some good websites with a list of Journal Entries and I was wondering if there was a place with just a list of T accounts anywhere?
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May 9, 2016 at 3:54 am #775699
confusedcandidate
ParticipantThere's a potentially infinite number of “t accounts” and another equally infinite number of journal entries to use these accounts. If you are sitting there memorizing them all then you are doing it wrong. You really need to fundamentally understand what items go on the balance sheet, and which are income statement items. You need to understand how the financial statements interact with each other. You really need to understand which items are assets, which are liabilities, and what the heck equity actually is; plus the contra accounts.
There's a few of the “weirder” accounts that I guess you could look up. Contra accounts, OCI items, allowance accounts, and such, but for the most part you really just need to understand the mechanics of how financial accounting works. After that, the individual journal entries and accounts themselves are irrelevant, and you can just kind of figure it out as you go along.
Weekends are meaningless to a CPA candidate
May 9, 2016 at 12:23 pm #775700Dantrick
ParticipantSo your saying there isn't a list or you don't know where one is or you don't have one. I don't recall saying I was going to memorize the list, just wondering if there was one.
May 9, 2016 at 12:49 pm #775701livealittle
ParticipantI'm going to say there isn't a comprehensive list of all T accounts. Like confusedcandidate says, there is potentially an infinite number of T accounts.
if you do not have a good understanding of how the BS and IS work together along with the SOCF, memorizing a bunch of accounts and JE isn't really going to help you.
If my company purchases a car with a bank note, I debit the asset account “vehicles” and credit “LTD- note payable car”. my BS still balances. I've increased my assets and my liabilities. As I pay the note each month, I debit the note payable, i debit some interest expense and I credit my bank account/cash. This decreases my liability on the BS, increases my interest expense on the IS, and decreases my bank account/cash on the BS. If I don't have some income/revenue to offset this expense, my equity just went down because at period end, the only activity I have is expenses. My RE will decrease when my net loss rolls.
memorizing the T accounts for interest expense, cash, FA/vehicles, LTD note payable car, isn't the way to really understand what's happening in the background to the financial statements.
There are some good lists of JE's for weird things that most of us don't spend a lot of time in school on like gov't NFP accounting and fund balances.
BEC - 8/8/16
REG - 66, 77
AUD - 81
FAR - 9/8/16May 9, 2016 at 2:03 pm #775702Anonymous
InactiveIf T-accounts are easier for you to understand than journal entries, why not take the listing of journal entries that you've found and turn it into a listing of T-accounts? I don't think I've ever seen a listing of T-accounts like you're asking for, but it seems like the exercise of converting the journal entries to T-accounts would help solidify the concepts you're learning, and also result in you having the list you desire.
Personally I never found T-accounts particularly helpful (I know, I know, accounting treason!), and never used listings of journal entries, either. For me, learning how to figure out the transactions (whether represented by T-accounts, JEs, or adjustments to balance sheet and income statement) was more useful. So, since I didn't use such lists, I don't have any. But, I learned by doing, so if I'd wanted a list and when I did want somewhat similar lists, I created them, so I'd try making a T-accounts list based on a journal entries list if I was the OP.
May 9, 2016 at 3:52 pm #775703Dantrick
Participant@livealittle thanks
@lilla Thanks Captain Obvious. Just because something isn't helpful for you then it isn't helpful for anyone else, ok thanks for the information that was no of no help to me.I realize I could make the T accounts, but people were putting on the forum websites for Journal Entries so I wondered if there was a website for T accounts. Sorry my question was so confusing. I didn't ask how to make a T account just wondered about the website. I guess the answer is NO. If you don't know the answer don't respond. You have no idea what I was going to use it for. My neighbor is taking an accounting class and keeps bugging me and I thought if I could give her a list of T accounts, the primary ones she would be off my butt for a while. I don't have time to make a list for her.
May 9, 2016 at 4:48 pm #775704Biff-1955-Tannen
ParticipantLilla gives a legit response and you call her captain obvious. Don't get mad at us because you're obviously too stupid to figure this stuff out. Honestly, who asks for a list of T-accounts? I'm not sure what you're neighbor is doing asking you for accounting advice, clearly you have 0 knowledge about anything.
Maybe next time you want to ask a dumb question, leave the attitude at the door.
AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 1699% Ninja MCQ only
May 9, 2016 at 5:37 pm #775705May 9, 2016 at 9:02 pm #775706Anonymous
Inactive…and here I thought I was actually making a nice response, trying to help the OP towards getting a listing of T-accounts, since it appeared that one didn't exist. Then when he was done, he might be able to post it and it would be available for future people who wanted it. OP had got mad at the first posted saying basically “you don't need them”, so rather than saying “you don't need them”, I tried to be helpful and said “I don't know of any, but here's an idea that might help, blah blah blah. I never used them, so never looked for them/used them, but that's how I'd go about it.” Oh well, at least I got to be a Captain, could've been a Private…
May 9, 2016 at 9:45 pm #775707acamp
ParticipantAh, but you could have been an Admiral!
Ninja + Wiley Test Bank: [FAR - 81] [REG - 76] [BEC - 88] [AUD - 73](doh!)
Becker Videos: [AUD - 82]
California CPA
May 10, 2016 at 12:41 am #775708confusedcandidate
ParticipantWhat a rude little troll you are Dantrick, shame on you. I feel bad for your neighbor if you are the best option she has for help. If you really want to help her, you should refer her to this forum so others can assist her directly – and then let yourself out.
Weekends are meaningless to a CPA candidate
May 10, 2016 at 3:48 am #775709Anonymous
InactiveDantrick. After u read these posts for a bit u will see that lilla and confused candidate are repeat offenders for starting drama and jumping down posters throats. Confused is probably the worst one. He is the ultimate accounting authority and knows everything about accounting. Yet he/she/it is not a cpa. It hides behind a helpful fasad until it sees the chance to start some internet drama.
May 10, 2016 at 4:08 am #775710ScarletKnightCPA
Participantlol omg u gaiz or so silly
Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)MBA in progress
May 10, 2016 at 4:11 am #775711ScarletKnightCPA
ParticipantDantrick does this help?
https://www.cliffsnotes.com/~/media/747b8154130644659136452b73c757aa.ashx?la=en
Far: 76 (Wiley Test Bank)
Aud: 77 (Wiley Test Bank)
Reg: 61, 76 (Wiley book, Wiley Test Bank)
Bec: 86 (Wiley Test Bank)MBA in progress
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