Accounting › Section B · Analyzing and recording transactions › Topic B.4
Journal entries, debits, credits, and T-accounts
Analysing a transaction tells you what changed; a journal entry records it in a form that checks itself, because the debits must always equal the credits. The debit and credit rules set out here are the ones every later topic in this course relies on.
In this topic
- Double-entry bookkeeping
- Accounts and the T-account
- The debit and credit rules
- Normal balances and a memory aid
- The journal and the entry format
- Worked example: journalising Larkhill's purchases
- Worked example: revenue, expenses and dividends
- Posting to the ledger
- Worked example: Larkhill's Cash T-account
- Common mistakes to avoid
- Key takeaways
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