Accounting T-Table Exercise
Practice recording journal entries using T-accounts
This interactive exercise helps you practice the fundamentals of double-entry bookkeeping. For each transaction, you will record the appropriate debit and credit entries. Remember: debits must always equal credits, assets and expenses have normal debit balances, while liabilities, equity, and revenues have normal credit balances.
Progress:
1
2
3
4
5
Transaction 1
Received $5,000 cash from owner as initial investment
Record Journal Entry
T-Accounts
Cash
Dr
Cr
Supplies
Dr
Cr
Equipment
Dr
Cr
Accounts Payable
Dr
Cr
Owner's Equity
Dr
Cr
Service Revenue
Dr
Cr
Rent Expense
Dr
Cr