The T-account looks like the letter T, with a horizontal line bisected by a vertical line.Increases in shareholders' equity appear on the right side, and decreases in shareholders' equity appear on the left side of T-accounts.

Question

Quizplus · Accepted Answer

This statement is true. The T-account is a visual representation of accounting transactions and it consists of two sides - the debit side on the left and the credit side on the right. For shareholders' equity transactions, increases appear on the right side and decreases appear on the left side of the T-account.

The T-Account Looks Like the Letter T, with a Horizontal