My professor made this topic so hard. I felt like my head was spinning in class. I know this is an old post but thank you!! definitely more prepared for my test today!!
I'm so glad it helped! It doesn't HAVE to look like this - it is just a trial balance after you make the adjustments (so you could just put the adjustments into the T-accounts, calculate the balance in your T-accounts, and then prepare a trial balance). Good luck on your test Jailyn!
I've tried to figure out what the hell my teacher said and did during the class and I just could not understand a damn thing. But you know what? 4 minutes of your video saved my life. Thank you. I'd love to see some more explanation about the definitions of each type of accounts and how to use them. I'm having problem with putting them into the correct credit or debit column. Thank you and keep up the good work.
Found myself having trouble on how to visually organize everything to be able to transition to unadjusted, adjusted and then financial statements but you made it so easy! Thank you Brandy 🙌🏼
Thank you for uploading this, you summarized my professor's 3 hours class in 2 mins, his accent and writing is way harder to visualizes and to listen to compare to yours
You will have to journal the adjustments to get them into your accounting records. For the purpose of your accounting class, read the “required” part of your question so you know exactly what your instructor is asking you to do ;)
Is this possible that in unadjusted trial balance there is expense ACC, and adjustment shows prepaid expense. Then what effect will in adjusted trial balance
Great question! That comes from the adjusting journal entry. If your adjusting journal entry says “debit Accounts Receivable” then put it on the debit side for accounts receivable.
If there is prepaid in unadjusted trial balance, and adjustment shows prepaid again, then we found expired of prepaid is it? If there is no prepaid in unadjusted trial balance and there is expense ACC in unadjusted trial balance, and in adjustment shows prepaid, then how will record in adjusted trial balance
Hey there, so in my textbook, for the cash account, the unadjusted trial balance is 131,000, the adjustments column is 0, and the adjusted trial balance is 31,000. It perfectly balances at the end, but I'm just not clear on why that is. Your help would be greatly appreciated! :)
This helped a lot but how about when the adjusted trial balance is given and you must solve to find out the unadjusted trial balance? like backwards? pls
Hi David, I apologize for the super delayed response - I hope you figured out the answer, but for anyone else wondering: If you are completing an adjusting entry for salaries it would be because you haven't paid the employees. If you had already paid the employees before year end/month end there would have been a normal journal entry so the cash would have already been credited and the expense account would have been debited (it would have been represented already in the unadjusted trial balance). In this case, if you are doing an adjusting entry you will be paying the salaries in the following year. For example if your employees get paid every Friday but the year-end falls on a Wednesday, you would owe your employees for the work they completed up until Wednesday (and that would be your journal entry: Dr salaries expense/Cr. salaries payable) and then on Friday they would get paid. Two tips for adjusting entries: 1) they never involve cash, and 2) they are done at the end of the month or end of the year, whenever you are preparing your financial statements.
Take the BALANCE from the T-accounts and put them into the unadjusted trial balance. (The flow of the transactions goes journal entry ➡️ t-accounts ➡️ unadjusted trial balance ➡️ adjusting entries ➡️ adjusted trial balance ➡️ financial statements ➡️ closing entries)
thanks for this very easy to understand, however you do not use amortization expense for depreciating fixed assets... the correct terms are Depreciation expense and Accumulated Depreciation. :)
Hi Erika, we may be in different parts of the world - in Canada (where I am, and where my students are) we have 2 main sets of standards: IFRS, and ASPE - under ASPE we still call it amortization. So even though it is different terminology, it is still correct under our accounting standards :) this video follows ASPE for my first year students.
please i need help asap Exercise 4-17 Completing a worksheet The following data are taken from the unadjusted trial balance of the Madison Company at December 31, 2011. Each account carries a normal balance and the accounts are shown here in alphabetical order. Accounts Payable . . . . . . . . . . . . . . . . . $ 2 Prepaid Insurance . . $ 6 T. Madison, Withdrawals . . . $2 Accounts Receivable . . . . . . . . . . . . . . 4 Revenue . . . . . . . . . . 25 Unearned Revenue . . . . . . . 4 Accumulated Depreciation-Equip. . . 5 Salaries Expense . . . . 6 Utilities Expense . . . . . . . . . 4 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Supplies . . . . . . . . . . 8 Equipment . . . . . . . . . . . . . . . . . . . . . . 13 T. Madison, Capital . . 14 1. Use the data above to prepare a worksheet. Enter the accounts in proper order and enter their balances in the correct debit or credit column. 2. Use the following adjustment information to complete the worksheet. a) Depreciation on equipment, $1 b) Accrued salaries, $2 c) The $4 of unearned revenue has been earned d) Supplies available at December 31, 2011, $5 e) Expired insurance, $5
Yo I never understood this till now. I’m dead gonna watch all ya videos cause you’re clearly a better Prof then mine smh why couldn’t she explain it like this.. lil hardheaded ass
You made everything so clear, I went through two weeks of classes learning this and walked out blank. Thank you Brandy
I knew it was simple, but just needed to see it visually. THANK YOUU!!
You have no idea how much this helped me right now. Most tutorials have people talk in with a bland dead boring tone.
I’m so happy it helped! I hope you kick butt on your exams!
My professor made this topic so hard. I felt like my head was spinning in class. I know this is an old post but thank you!! definitely more prepared for my test today!!
I'm so glad it helped! It doesn't HAVE to look like this - it is just a trial balance after you make the adjustments (so you could just put the adjustments into the T-accounts, calculate the balance in your T-accounts, and then prepare a trial balance). Good luck on your test Jailyn!
I've tried to figure out what the hell my teacher said and did during the class and I just could not understand a damn thing. But you know what? 4 minutes of your video saved my life. Thank you. I'd love to see some more explanation about the definitions of each type of accounts and how to use them. I'm having problem with putting them into the correct credit or debit column. Thank you and keep up the good work.
You are from?
Found myself having trouble on how to visually organize everything to be able to transition to unadjusted, adjusted and then financial statements but you made it so easy! Thank you Brandy 🙌🏼
Had this same issue
This cleared up any confusion I had regarding adjusting trial balance! Grateful for your instruction!
This was simple and straight to the point 👍👍
I can't thank you enough!!!
god bless you tomorrow is my quiz
good luck on your quiz!
Clapping!!! So well explained...you saved me😩
First youtube comment in my life :) you deserve it
i understand everything now thanks to this video ✨✨
Mannnn THANK YOUUU😭 you explained it very well, now im done with my assignment♡
You make it too easy for me to understand thankyou for this amazing video
thank you very, you release my tension, i was too much disturbed because of this problem. thank you again
Finally I figure out. Thanks Brandy
You are so welcome Kutay! Are you taking accounting this semester?
THANK U SO MUCH. THE BOOK I WAS READING WAS VERY CONFUSING.
Thank you so much for giving me a graphic idea...I knew but I needed to see it!
Lettering those was an awesome idea I did not understand what I was doing this video was extremely helpful thank you
Thank you for making this now I can sleep knowing I’ll pass my test
Thank you for uploading this, you summarized my professor's 3 hours class in 2 mins, his accent and writing is way harder to visualizes and to listen to compare to yours
Oh I so appreciate your work or your help...thank u
Thanks for the sweet comment!
You're really helpful
Thank you so much!
😊
Thank you so much. It really help me. ❤️❤️
Thanks a lot for your easy explanation🌹
Ur reply will help me more, because iam commerce student and have a clash in this entries
Simple and straight forward. Thank you so much
This is beautiful! Thank you so much Brandy
I've never had a trial balance be described as beautiful - love it!
hi ma'am! my adjusted trial balance is equal to the unadjusted trial balance plus the adjustments, is that wrong?
Thank you so much for this!
You are so welcome!
This help me understand the unadjusted trial balance easier TwT thank you for this, ma'am! :3
Do we have to ledger the adjustments transactions before posting it in the adjustments?
You will have to journal the adjustments to get them into your accounting records.
For the purpose of your accounting class, read the “required” part of your question so you know exactly what your instructor is asking you to do ;)
Video made my night ..THANK YOU SO MUCH
When you have a Cr- Dr or Dr- Cr, how do you know if to Debit or Credit the Answer in the Adj Trial Balance?
ur so amazing. this can literally save you years of hustle... tnx
Thank you for the Crystal Clear explanation. That was awesome!
From where you got entries for adjustment.
Great video, simply explained. Thank you
Thanks from turkey you saved my future :D
Wow! I love that this is international 😀 I hope you are doing great in accounting
Is this possible that in unadjusted trial balance there is expense ACC, and adjustment shows prepaid expense. Then what effect will in adjusted trial balance
I love you so much! This helped me out a ton
How do I know whether to put them into the credit or debit side??
Great question! That comes from the adjusting journal entry. If your adjusting journal entry says “debit Accounts Receivable” then put it on the debit side for accounts receivable.
If there is prepaid in unadjusted trial balance, and adjustment shows prepaid again, then we found expired of prepaid is it? If there is no prepaid in unadjusted trial balance and there is expense ACC in unadjusted trial balance, and in adjustment shows prepaid, then how will record in adjusted trial balance
Very helpful. Thank you so much!!!
Thank you this was very helpful and informative 👍👍
Hey there, so in my textbook, for the cash account, the unadjusted trial balance is 131,000, the adjustments column is 0, and the adjusted trial balance is 31,000. It perfectly balances at the end, but I'm just not clear on why that is. Your help would be greatly appreciated! :)
If its a debit+ credit where do i pit it in the adjusted balance??
Very good
Thank you for this video! It was really helpful.
This helped a lot but how about when the adjusted trial balance is given and you must solve to find out the unadjusted trial balance? like backwards? pls
thank you mam you are my angle and your voice is fantastic ❤️
Financial statements are made from adjusted or unadjusted trail balance and why? Please explain
well explained 💗
So easy thanks❤
but how about if there are 2 account recievables?
Thank you so much😇😇😇
This content help me on my exam lol
thank you ma'am you have my respect!
you are amazing. 👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻
Thank you. It was really helping.
Thank you so much ,that was helpful!!
Does anyone know any links where I can print this template out?
Why woundn't the entry you listed for C be a credit on cash? Would that be incorrect?
Hi David, I apologize for the super delayed response - I hope you figured out the answer, but for anyone else wondering: If you are completing an adjusting entry for salaries it would be because you haven't paid the employees. If you had already paid the employees before year end/month end there would have been a normal journal entry so the cash would have already been credited and the expense account would have been debited (it would have been represented already in the unadjusted trial balance). In this case, if you are doing an adjusting entry you will be paying the salaries in the following year. For example if your employees get paid every Friday but the year-end falls on a Wednesday, you would owe your employees for the work they completed up until Wednesday (and that would be your journal entry: Dr salaries expense/Cr. salaries payable) and then on Friday they would get paid.
Two tips for adjusting entries: 1) they never involve cash, and 2) they are done at the end of the month or end of the year, whenever you are preparing your financial statements.
Hello if I subtracted debit and credit where should my answer be? Is it on debit or credit???
Put it on whichever side had the biggest number to begin with
Thank you.
Thanks for real 💚
I just wanna know where did u get the cash amount...it says 12,000 how did u get it?
Thank you very much so helpful.
Thank you it makes a lot of sense
HUGE HELP!!! Thank you
Thanks for this :)!
Is the numbers from unadjusted trial balance from the T- Accounts or the General entries?
Take the BALANCE from the T-accounts and put them into the unadjusted trial balance. (The flow of the transactions goes journal entry ➡️ t-accounts ➡️ unadjusted trial balance ➡️ adjusting entries ➡️ adjusted trial balance ➡️ financial statements ➡️ closing entries)
Thankyou so much for this video
Well mam thanks for your efforts
So nice of you
v nice
i clear my all concepts easily thnkx
Awesome it was......
If it's credit - debit then where do I put the answer on the adjusted trial balance? 😊
Chara Belle whichever you were subtracting from
thanks for this very easy to understand, however you do not use amortization expense for depreciating fixed assets... the correct terms are Depreciation expense and Accumulated Depreciation. :)
Hi Erika, we may be in different parts of the world - in Canada (where I am, and where my students are) we have 2 main sets of standards: IFRS, and ASPE - under ASPE we still call it amortization. So even though it is different terminology, it is still correct under our accounting standards :) this video follows ASPE for my first year students.
And just in case anyone wants to nerd out over this, it is CPA Handbook Part II (Accounting Standards for Private Enterprises) section 3061.16
@@BrandyDudas I see thanks for this info. Will add this response when passing your vid to my mentees to avoid confusion. 😊
Hi can you help me we have an exam about adjust trial balance but i cant understand well
yes
dahraan 004 can i message you on twitter or ig?
its sad you did not show us the income statement and soe in the same format but over all good explanation :}
Thank you i really have a problem on this
U are amazing
😊
I've been officially helped.
When to use Accumulated? i hope i can see the transactions in A,B,C.
trail balance m a/c likhna necessary h
You saved me
thank you so much omg
really helpful.
where are these numbers even coming from?
amazing
thanks
please i need help asap
Exercise 4-17
Completing a worksheet
The following data are taken from the unadjusted trial balance of the Madison Company at December 31, 2011. Each account carries a normal balance and the accounts are shown here in alphabetical order.
Accounts Payable . . . . . . . . . . . . . . . . . $ 2 Prepaid Insurance . . $ 6 T. Madison, Withdrawals . . . $2
Accounts Receivable . . . . . . . . . . . . . . 4 Revenue . . . . . . . . . . 25 Unearned Revenue . . . . . . . 4
Accumulated Depreciation-Equip. . . 5 Salaries Expense . . . . 6 Utilities Expense . . . . . . . . . 4
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Supplies . . . . . . . . . . 8
Equipment . . . . . . . . . . . . . . . . . . . . . . 13 T. Madison, Capital . . 14
1. Use the data above to prepare a worksheet. Enter the accounts in proper order and enter their balances in the correct debit or credit column.
2. Use the following adjustment information to complete the worksheet.
a) Depreciation on equipment, $1
b) Accrued salaries, $2
c) The $4 of unearned revenue has been earned
d) Supplies available at December 31, 2011, $5
e) Expired insurance, $5
thank you
Thank u
i didn't understand could you explain as clear
awesome
thaaannkk yoouu
Yo I never understood this till now. I’m dead gonna watch all ya videos cause you’re clearly a better Prof then mine smh why couldn’t she explain it like this.. lil hardheaded ass
God bless u
💖💖
love you