what is that symbol T in balance shhet?
I found “Jim in Austin’s” second post to be very helpful. I’d struggled with a finding a more complete “narrative”/“point of reference” for the debit and credit dilemma until I read what he wrote: “I might also add that debits and credits are not pluses and minuses. They are…”. I was thinking of accounting as plus and minus without understanding how to do the mental work. It is not math per se. Once I stopped and repeated to myself what he’d written and what I’d been told over and over by my instructor, I finally began to understand. I now have this posted on 2 index cards in my textbook and I do refer to it often (and I will until it becomes automatic). I now know how to treat assets and expenses and liabilities, equity and income. I no longer think, “What do I subtract and what do I add” but “Is this an asset, expense, liability, equity or income that I’m dealing with, what’s happening with it and what does the rule say about dealing with it in situation like this one?” I also think Kalid’s “Understanding Accounting Basics” is also a good simple intro to accounts/bookkeeping. Thank you both.
how to learn account subject?