Question

Which format provides a view of how transactions affect each account as a whole as compared to the journal

which provides a chronological listing of accounting activity?

A. T-account correct
B. Four-column ledger
C. Both are correct
D. None of the above"

Answer 1

The T-account format shows how transactions affect individual accounts with a two-column 'Assets' and 'Liabilities' layout, different from a journal.

Step-by-step explanation:

The format that provides a view of how transactions affect each account as a whole, as opposed to the journal which provides a chronological listing of accounting activity, is the T-account.

A T-account is a balance sheet tool that uses a two-column format to represent accounts, showing debits on the left and credits on the right. The T-shape is created by a vertical line down the middle and a horizontal line under the column headings for "Assets" and "Liabilities." This allows for a clear visual representation of the effects of transactions on individual accounts.