Assignment Three
This assignment relates to:
T-Accounts and Trial Balance Calculations --
Accounting is an exercise in the balance of debits and credits. In this assignment, you will create T-Accounts for your business.
Note: your T-Accounts should correspond to your Chart of Accounts created in the last assignment

You will arrange the T-Accounts according to the FAE -- Fundamental Accounting Equation
(Assets = Liabilities + Owners Equity + Revenue - Expense)
Please use the form marked "USE THIS FORM FOR ASSIGNMENT 3 !!" It is available in the downloads section of my website
  • Label each column of each T-Account to show which is "+" and which is "-"
  • Label each column of each T-Account to show which is a credit (CR) and which is a debit (DB)
Using the transactions from the last assignment (your transactions or the transactions from my handout), create a complete set of T-Accounts with appropriate footings and balance.

Using the T-Accounts, complete a Trial Balance that corresponds to your T-Account information.
Trial Balance forms are available in the downloads section of my website
Email --
Attach all required documents to an email (ex: T-Accounts and Trial Balance).

Send these to me making sure to add "Lab 3" in the subject line and include your name in the body of the email.
Part of Final Project

Ok you should be getting the idea here. Almost all your projects in the class will become part of your Final Project / Final Exam. This assignment is no exception, but I want you to realize the theme here. Each project does not exist in isolation. Each project depends on the projects before it and after it.

With each project you do, make sure it works with the projects before it. It is much easier to sync them up one at a time than try and sync 14 of them at the end of the class.


Return to Assignments Index