A few days ago
When journalzing and doing t-charts in accounting…?
do you include the beginning balance?
Thanks!
Top 2 Answers
A few days ago
Favorite Answer
some accounts won’t have a beginning balance until they are created, such as accumulated depreciation
but in general yes
0
A few days ago
You should have a trial balance from which to copy beginning balances to your T accounts or ledger.
If there is no trial balance, a list of beginning balances should be given in your instructions.
UNLESS:
You are just starting the business. In which case, starting a business would be indicated, along with the amount of the original investment.
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