The one who can explain complex terms and concepts into easy-to-understand-language is the best teachers of all. Thank you so much for the wonderful explanation. :)
Professor Lazarus !!! too good man ! you have resurrected the accountant in me. Thank you very much for a great explanation of the Balance Sheet. I am about to check out your other videos :)
Moon Company Ltd. has an authorized capital of Rs. 2,000,000 million divided into 200,000 stock with par value of each stock is Rs. 10. On December 31st, 2012 80,000 stock were fully called and paid up. The following are the balances taken from the ledger of the company as at December 31st, 2012. Stock Rs. 160,000 Utility Expense Rs. 33,600 Sales 1,360,000 Debtors 123,840 Purchases 960,000 Creditors 112,640 Wages 224,000 Plant & Machinery 257,600 Sales Discount 13,440 Furniture 54,700 Purchases Discount 10,080 Cash at bank 447,040 Insurance upto June 2013 30,000 General Reserves 80,000 Salaries 59,200 Loan from Managing Directors 50,240 Rent 19,200 Bad Debt Dr. 10,240 General Expenses 17,900 Advertisement 12,160 Profit & Loss A/c. 28,640 Printing and Stationary 18,680 Adjusting data for information at December 31st, 2012 a. Stock at end valued Rs. 183,000 b. Depreciation to be charged on Plant & Machinery at rate of 15% P.A. and furniture at the rate of 10% P.A. c. Outstanding wages, salaries and rent are Rs. 16,640 , 3,840 and 1,920 respectively. d. Write of Rs. 960 as further bad debts and provide for bad and doubtful debt at 2% on debtors. e. Credit sales amounting to Rs. 1,920 were left unrecorded in the books of account. f. Dividend at 5% on paid up capital
Accounting noob here with a quick question. I heard that the Assets and Liabilities/Shareholders equity are supposed to add up to the same amount on the balance sheet. But what if you aren't borrowing cash or have anyone investing in your company? In that case would your assets be greater than your liabilities/shareholders' equity?
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The one who can explain complex terms and concepts into easy-to-understand-language is the best teachers of all. Thank you so much for the wonderful explanation. :)
Prof Lazarus please make a clone of your self, we need you in the University Of South Africa. This is what i call a calling for teaching, just perfect
Very thorough and to the point explanations with great examples. I learned more than being in the classroom.
so thankful u were born. omg. i understood this lesson for like 14 mins morethan my teacher who taught us this lesson for 1 MONTH
Very concise and easy to understand. I think even those not familiar with basic accounting would understand your explanation.
Your classes are very simple and informative. I've gained a lot out of these videos. Thank you.
Awesome! I went through this for 5 minutes and i got so many questions answered. Awesome sir!
A brilliant insight into Balance sheets - I've watched a few others on TH-cam, but I really like the focus of this one. Thanks again!
I will use your example to show it to my clients, Great presentation!
Very well done, you saved me from my online course paper just now.
Your videos are extremely informative and helpful! Thanks for posting!
oh. I had to comment . thanks for making this concept so simple to understand .
you're providing a very simple and extremely useful explanation ...thanks professor
This guy is really pretty good. Every little bit helps.
Prof, you are the Best Lecturer Ever seen. Keep it up. Kindly Produce Lectures on Account Of of Limited Liability company,
Thank you, this was very helpful. It is articulately clear the way you explain it.
I applaud this teacher and video. Much thanks.
very simple and clear explanation.....hope will teach all about accounts sir
Professor Lazarus !!! too good man ! you have resurrected the accountant in me. Thank you very much for a great explanation of the Balance Sheet. I am about to check out your other videos :)
brilliantly explained sir . it was a pleasure understanding the concept of balance sheet from you
THANX
Super clear video and easy to follow! and great line at the end Professor! Thank you so much!
You saved me from failing my exam, thanks man!
Thanks you make it very clear and simple to understand
Thank you professor. valuable video, you made it very clear and easy to understand.
OMG you are amazing!! Now dats what we call teaching. I wish you were my teacher for accounts :(
This was a very good explanation. Good job
Excellent intro to accounting. you are so goo prof. thank you!!!
brilliant i swear i am so thankful that i've found you! thank you!!!!!!!!!!!
Appreciate for the wonderful presentation. Simple and clear.
Thank you for the explaining Balance Sheet in simple terms. I never get it, when a lectures uses fancy wordings to explain simplest things.
thank you!!! financial accounting final in 18 hours!!!
Great lecture. Very informative. Thank you.
Great lecture and excellent presentation. Thank you very much!
What a positive man!
You believe you will still be able to do Balance Sheets on Dec 31 2012.
That's the way!
Sir your video extremely informative and helpful. Thanks for posting sir
He is 100x better than my professor!
Best Explanation yet. He went above and beyond. Thank you
You are a flippin genius!
Thank you sir
Very informative video. thanks!
wonderfully explained!! will follow your videos
Moon Company Ltd. has an authorized capital of Rs. 2,000,000 million divided into 200,000 stock with par value of each stock is Rs. 10. On December 31st, 2012 80,000 stock were fully called and paid up. The following are the balances taken from the ledger of the company as at December 31st, 2012.
Stock Rs. 160,000 Utility Expense Rs. 33,600
Sales 1,360,000 Debtors 123,840
Purchases 960,000 Creditors 112,640
Wages 224,000 Plant & Machinery 257,600
Sales Discount 13,440 Furniture 54,700
Purchases Discount 10,080 Cash at bank 447,040
Insurance upto June 2013 30,000 General Reserves 80,000
Salaries 59,200 Loan from Managing Directors 50,240
Rent 19,200 Bad Debt Dr. 10,240
General Expenses 17,900 Advertisement 12,160
Profit & Loss A/c. 28,640 Printing and Stationary 18,680
Adjusting data for information at December 31st, 2012
a. Stock at end valued Rs. 183,000
b. Depreciation to be charged on Plant & Machinery at rate of 15% P.A. and furniture at the rate of 10% P.A.
c. Outstanding wages, salaries and rent are Rs. 16,640 , 3,840 and 1,920 respectively.
d. Write of Rs. 960 as further bad debts and provide for bad and doubtful debt at 2% on debtors.
e. Credit sales amounting to Rs. 1,920 were left unrecorded in the books of account.
f. Dividend at 5% on paid up capital
This video was a big help. Thanks so much!!!
great explanation from starting to ending, full understood, thanks
Yes! Tomorrow i will burn exams papers with answers! Thank you!
Excellent presentation - thanks
The honor & greatest lectures , than you for your help!
Thank you. You explain it very well.
veryy well explained sir.... a big thumbs up
Excellent explanation..very helpful.Thankyou
Perfect explanation.....thank you very much
Great Explaination... Simple crisp
very good video, thanks for explaining it in such easy way.
Thank you Sir am commenting from Nigeria
Thank you, it prepares for me for my Diploma next year... at least I know the basics first ;)
I highly appreciate in your efforts thanks
Thank you for sharing this tutorial.
Amazing explanation!!! I love it
Accounting noob here with a quick question. I heard that the Assets and Liabilities/Shareholders equity are supposed to add up to the same amount on the balance sheet. But what if you aren't borrowing cash or have anyone investing in your company? In that case would your assets be greater than your liabilities/shareholders' equity?
Very good and simple to understand
thanks professor may Allah love u protect u help u and include you the people of Hannah in hear after
well i feel thankful for such a great video too
Excellent and easy to understand!! Thank u so much!!
Hebby sikhiyecho kaka..... from alu potol jhinga
It's a clear explanation.
Awesome Explanation
sooo comprehensive
hope to have a prof 👍 you
brilliant! you saved my assets!
thanks u are good than my teacher
Again, Awesome Work!!!!!!
Very Informative video!! Amazing
Thanks, this is a very useful video.
this was really helpful... thank you
Wow...what a class!!!
very nicely explained. thank you
Excellent brief lecture!
How do actually calculate goodwill and patent cost for a company in terms of money?
Thank you profblazarus
Great lesson professor!
great video tutorials, wow i've learnt a lot. thank you so much.
thank you for this video.
para excellently explained. Thank u
thanks prof easy to understand
Very informative, thank you
Very well explained
Awesome! So clear!
Well done, sir.
Thank you Professor
Great video!
if the deposits is set to be paid back in a year or 6 months like in the example doesn't that make it a a current asset?
thank you,,learning new things everyday..keep it up
Very useful thank you so much sir.
Amazing this helped me a lot in accounting thanks!!!!!
Thank you so much sir....your explanation is awesome...its all clear now....:)
Great lecture about balance sheet but why you did not show all the liquidity assets on the list of current assets?
thanks you professor.
thank you so much. you helps me a lot. keep posting videos like this. ^,^
Extremely helpful, thank you so much!!!!
Usefull video, it help me.
clear and well explanation
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Thank you. Very helpful!