Hello Mr. Gyebi. I am an accounting student teacher in Jamaica. Accounting is not always easy when you don't understand the concepts. I must say that with your sessions and with your explanations and reiteration of concepts, i use these videos to both enhance my learning and build my confidence in the course. Keep up the good work Sir.
Thanks alot for the tutorials since I started watching I have been having wonderful time.You have helped me understand a lot of things I thought were difficult I appreciate you a lot!!!
Sir what if we record in current account? Because the share of Profit from revaluation account is record in current account if we doing current account. Can you explain the reason pls
I have a question on revaluation of partnership assets and liabilities about Achillo in the part where you were preparing revaluation account. Why did you place Goodwill on the Cr side of the revaluation account? Is it because it was created and that's the only time it should be placed there or there are other circumstances?
Another question is that when you were preparing the partners capital account, you didn't share the goodwill that was created between the partners on the credit side. Does this mean that there are instances when the goodwill shall not best shared between the partners during admission of a new partner?
Don't worry... I'll do every topic... Just pray for me that I'll get enough time to speed up the process... I'm a very busy person but I try hard to get these videos for you guys... It shall be well. Much love from Ghana to you all 🙏
i believe in revaluation account he should have recorded goodwill like this... capital:goowill 3000 and apportion it based on new profit sharing ratios. then complete double entry by debiting capital accounts
Sir please what of when cash is introduced by the new partner as goodwill, when asset revalued is to be maintained in the books and when asset valued is not maintained in the books
Another question is that when you were preparing the partners capital account, you didn't share the goodwill that was created between the partners on the credit side. Does this mean that there are instances when the goodwill shall not best shared between the partners during admission of a new partner?😊
Thank you sir. For me i have one question now what if at the time of admission of a new partner the partnership has some asset and liability not included in its balance sheet and now they are asking for them to be made part of the balance sheet.
Sir what happens if we Have the Accounts Receivable and Provision for Credit Losses in our statement of financial position before we admit a new partner, Are we suppose to offset the Provision for Credit losses Against Account Receivables before we revalue or are we just going to take the difference between the Accounts receivables and the fair value of the considered one?
Hey good day, so how do you treat the revaluation account when there's no difference between the 1st an 31st after revaluation. I hope you have understood my question 🙏
That would mean there is no revaluation, revaluation is when the item is re-valued so if there is no difference in value that would mean there is no revaluation of an item.,,,,,,the item is not re-valued, as a result no effect on the revaluation account.
sincerely, i believe in revaluation account you should have recorded goodwill like this... capital:goowill 3000 or apportion it based on new profit sharing ratios. then complete double entry by debiting capital accounts
Please the old WhatsApp number isn’t working anymore
This is the new WhatsApp number👇🏻
+233596316536
Thanks
Hello I have a burning question can I send it here for assistance???
I love you teaching sir. God bless you
I need one topic Depreciation of fixed assets
U don't reply to WhatsApp messages,why?
Let me send you a question sir
I am a student teacher of accounting and I find the FOG videos very enlightening. Keep up the excelente teaching.
Only his face makes me happy...😂
Knowing fully well im already a genius at the topic he is about to teach me. God bless you sir!
Best teacher of accounts in the world for me😭
Hello Mr. Gyebi. I am an accounting student teacher in Jamaica. Accounting is not always easy when you don't understand the concepts. I must say that with your sessions and with your explanations and reiteration of concepts, i use these videos to both enhance my learning and build my confidence in the course. Keep up the good work Sir.
That feeling when you know you don't understand from class but you understand from FOG tutorial
😂 I relate.
Same here😂
How simple and clear things that seem complex in reality have been made! Who is this Man?!
This video was really helpful for me in understanding the revaluation part. Thanks a lot❤. A smooth teaching pattern.
Same here
YESS this video really made me understand🥳 Just 5 minutes in and I understood how to create the account🤗
Hello, can you help me do a certain question here
Thanks alot for the tutorials since I started watching I have been having wonderful time.You have helped me understand a lot of things I thought were difficult I appreciate you a lot!!!
Please post the part on dissolution of partnership and also conversion of partnership into a company
Thanks to you FOG Accountancy, your videos are been helpful
Thank You so much sir
Very good explanation.. More Thanks from Kenya
i am really thankful for this video sir i now understand this topic that i have been stock on for weeks
Am now a star in financial accounting, thank you sir
I love all yo lectures.. thank you
God bless you ma guy, you really helping squad oo
This has helped me alot Sir,May God bless you and more grace upon you
I appreciate for Ur time from Uganda
You are very so competent enough
you are the best sir 🐐
May God bless you sir. This was well explained
Amen.
Umetisha sana
Thank so much sir 🙏🙏🙏🙏🙏🙏🙏🙏🙏may God bless you help me to my final exam, now I understand well
Thank you so much sir, you amazing at explaining what you know.
God bless you richly ❤
You're really fantastic I feel like a genius I need to start lecturing one of these days😂
Thanks very much Sir, God will bless you for taking your time to explain, I wish you were in my country, I would hv definitely come for your classes.
I am fully blessed to see your video thanku
You have helped me a lot sir thanks 🙌🙌
Thank you very much for this.
Thank you very much sir..in fact you are my hero since you have contributed a lot to my knowledge in this part. Please post the ratio analysis part
You are the best
Thanks sir. You the best
If not for you
May you continue with the same spirit
Good stuff
thanks sir its so heled for my exams
Good day sir, what about other causes of changes in partnership; Amalgamation, conversion and Retirement..
Sir what if we record in current account? Because the share of Profit from revaluation account is record in current account if we doing current account. Can you explain the reason pls
I'm indeed a beneficiary of this prese
This great.thanks so much
I have a question on revaluation of partnership assets and liabilities about Achillo in the part where you were preparing revaluation account. Why did you place Goodwill on the Cr side of the revaluation account? Is it because it was created and that's the only time it should be placed there or there are other circumstances?
Weldone sir, plz make a video on the adjusted statement of financial position
Your the best
thanks so much this was helpful
Another question is that when you were preparing the partners capital account, you didn't share the goodwill that was created between the partners on the credit side. Does this mean that there are instances when the goodwill shall not best shared between the partners during admission of a new partner?
Do we calculate NCI on preference share capital? When given both the ordinary share capital and preference share capital
Thank you so much this is really helpful
Welcome
Thank you sir
Please explain why didn't include the loan in the Capita account
Sir please do a video of company accounts. Thank you
I second please
Don't worry... I'll do every topic... Just pray for me that I'll get enough time to speed up the process... I'm a very busy person but I try hard to get these videos for you guys...
It shall be well. Much love from Ghana to you all 🙏
@@FOGAccountancyTutorials Good work sir. It has been of great help 🙏
Powerful
Kindly make a video on company accounts
Sir, what if goodwill is not to maintain in the books, what are we going to go about it
Kindly Why wasnt the goodwill included in the capital account
Because it was part of Revaluation
i believe in revaluation account he should have recorded goodwill like this... capital:goowill 3000 and apportion it based on new profit sharing ratios. then complete double entry by debiting capital accounts
Sir please what of when cash is introduced by the new partner as goodwill, when asset revalued is to be maintained in the books and when asset valued is not maintained in the books
Well explain thanks you
Thanks!
God bless you
Another question is that when you were preparing the partners capital account, you didn't share the goodwill that was created between the partners on the credit side. Does this mean that there are instances when the goodwill shall not best shared between the partners during admission of a new partner?😊
Kindly sir what will be the other double entry of goodwill since you didn't include it in the capital account
Ur the best
Sir please, if possible be adding the trial questions to the details so we can trial our hands on it.
Thank you.
Thanks so much sir
Thank you sir.
For me i have one question now what if at the time of admission of a new partner the partnership has some asset and liability not included in its balance sheet and now they are asking for them to be made part of the balance sheet.
How will you determine the value of the land.
Please sir, what if capital wasn't given in the statement of financial position, how do we get the capital?
thank you
Thank you so much
Can i use the trial balance for the old partners to revalue the assets before admitting a new partner ?
Why didn't you bring goodwill in the Capital account?
Why didn't we share the Goodwill that was created to the partners?
If we were required to prepare partner's capital account, how would we do it?
Pls why didn't you use current account in preparing balance sheet
The question didn't require that.. It means that the business was operating the fluctuating capital accounts system
@@FOGAccountancyTutorials oh okay
Pls apart from Reveluation pls do we have topic under partnership again?
Yes... Many other topics...
@@FOGAccountancyTutorials oh okay thanks sir
Why are u adding goodwill in revaluation I thought we create its own account and den add it to capital account
Good day sir, please what about retirement of partners under revaluation and life policy under revaluation
Thank you sir
Thank u sir
So sir if in the event that they tell us to create a cash account, what would we write?
Xanks alot ahm really understanding more because of your videos
How it could be when there is adimision new partner & retrment of partner at onetime in a partnership
Why isn't the third one included
Please sir if possible can you do a video on conversion of partnership into public limited companies 🙏
Sir pls what if u are not given there capital and it says that their capital is contributed equally how will u solve for their capital
so what if Goodwill was given at first and the differences found
Sir what happens if we Have the Accounts Receivable and Provision for Credit Losses in our statement of financial position before we admit a new partner, Are we suppose to offset the Provision for Credit losses Against Account Receivables before we revalue or are we just going to take the difference between the Accounts receivables and the fair value of the considered one?
Thanks
How about memorandum joint venture
If in revaluation account nil comes what to do sir
Hey good day, so how do you treat the revaluation account when there's no difference between the 1st an 31st after revaluation. I hope you have understood my question 🙏
That would mean there is no revaluation, revaluation is when the item is re-valued so if there is no difference in value that would mean there is no revaluation of an item.,,,,,,the item is not re-valued, as a result no effect on the revaluation account.
Sir please what about a video on Accounting for non profit organisations
I'll do that soon
@@FOGAccountancyTutorials Ok Sir
I’ve done that . Have you seen it?
Sir,provision of doubtful debt it should be credited to revaluation account coz it is a giving account 🙌
What do you mean by giving account?? Listen to the explanation of the concept again... You'll understand it.
If I need where can I get you
when you speak of accounting "FOG" can't miss out he just can't😊
Sir ..Please do cash flows 🙏
Thank you so much
Thank you sir
The concept is at home
Much love from Kenya
But sir the new value for creditors is 540
Godbless u
Please why wasn’t the provision for doubtful debt(60) subtracted from the value of debtors before debiting it to the revaluation account?
Please hire purchase should be next sir please
4940/2=2470
Been confused From day one
oh really, listen to it again you would understand cos how FOG is teaching is very clear and simple.
sincerely, i believe in revaluation account you should have recorded goodwill like this... capital:goowill 3000 or apportion it based on new profit sharing ratios. then complete double entry by debiting capital accounts
My view as well