I learned the acrostic "DEAD" for depreciation. DE = Depreciated Expense on the debit side, while AD = Accumulated Depreciation on the credit side. That helped me.
I believe "uncollectables" is a contra account. Once you know you have an accounts receivable that is in default and will not pay, you reduce the accounts receivable account and increase the uncollectables account. Not sure... new at this.
Hey CPA strength! Question for ya! My buddy is trying to figure out how the depreciation of his rental property will be depreciated over the course of a year. Is that the same calculation as a normal depreciation of an asset?
Depends, the asset may actually be increasing which would then be a negative depreciation, but if it is depreciating - then yes. Remember to include all CAPEX in the cost for the depreciation
Why can't you credit the asset "truck" $1000 directly each year to depreciate it down, instead of crediting a separate "accumulated depreciation" account?
I learned the acrostic "DEAD" for depreciation. DE = Depreciated Expense on the debit side, while AD = Accumulated Depreciation on the credit side. That helped me.
Thank you for sharing, i like that too
Please don't stop making videos.
I won’t. I’m coming back
@@CPAStrengthPassion yes please. Its helping me alot
thanks for the videos they are banging!!!! your a smart cookie!!
+Blkvixon Vixon thank you 😊. I'm gonna eat my smart 🍪
Better than eating calculators.. Great work all the way from the UK!! Keep em' coming
This was great thank you
You are welcome
Omg you are so funny. Never answer the unknown numbers.. I so needed a laugh
Thank you. Some people enjoy my humor and some don’t. I will keep being me
I believe "uncollectables" is a contra account. Once you know you have an accounts receivable that is in default and will not pay, you reduce the accounts receivable account and increase the uncollectables account. Not sure... new at this.
Hey CPA strength! Question for ya! My buddy is trying to figure out how the depreciation of his rental property will be depreciated over the course of a year. Is that the same calculation as a normal depreciation of an asset?
Depends, the asset may actually be increasing which would then be a negative depreciation, but if it is depreciating - then yes. Remember to include all CAPEX in the cost for the depreciation
Why can't you credit the asset "truck" $1000 directly each year to depreciate it down, instead of crediting a separate "accumulated depreciation" account?
doing that will instead decrease the value of our truck, which isnt the goal of depreciation
which # discuss accrurals I need to review
#34 + #35
Is he wearing a Wig?
I jumped from #22 to #60 and maaaaaaaaaan there is a BIG DIFFERENCE.
I just grew out the hair. Its awesome, isn't it
OH MY DAYS. THATS COOL.
I at me balance sheet for breakfast, then I bought a necklace!!!
+Shine Dawg aye. I counted 💰 for my 🍳 i could of bought a 🚗 but instead I bought a 📿
👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍
DC ADE LER-C?
Sure