Thank you very much, you are helping me a lot. I had never studied Accounting in my life, until I arrived in an English country and they told me that they study Accounting. I didn't know anything until my teacher explained a little about CRJ and CPJ. She introduced me to you and you cleared my mind. Thank you very much, thank you very much. May the Lord bless you! 😁
do accumulated depreciation values go to the credit side? also can you do a video of liquidation of a partnership? you explain things so well i have greatly benefited from your videos.
Why is the word "debit" used to indicate an increase on an account, when the word actually means "to remove" or "take away from" just like it is used with a standard bank account?
Those are just names of the two sides in accounting. You will also note that the debit in accounting books signifies an increase for assets but for the bank statement it is the opposite. We explained why here: th-cam.com/video/GjjvV1dUKrw/w-d-xo.html
You can use the rule PEARLS+C So on the debit it is P-purchases,E-expenses ,A-assets On the credit side R-revenue(income),L-liabilities,S-sales,C-capital So the according accounts increase when they are put in their initial side.Expenses will always increase on the debit side but will decrease on the credit.The initial place for expenses is on the debit side because we often buy things for households or businesses which increases out expense and expenses decreasing doesn'tsound that right .Income is recorded in the credit side btw
Hello there, we already have a video on cash flow statements here th-cam.com/video/UDFILLOdZuc/w-d-xo.html. Will do some videos on partnerships soon. thank you for the suggestion.
Hi Some books say: Assets = Equity + liabilities whereas others put is this way: Assets= liabilities + Equity. I'm confused. Whenever I analyse a transaction I start with assets--- equity--- liabilities. Which way is correct?
please assist, I am confused now. If the expenses and drawings are debit and recorded on left. meaning if the business pays rent (expense) does that not affect the bank? my understanding would be to record as follows Bank on minus on debit side and debit Equity also, Income is an asset? why record on credit?
If the money comes from the bank to pay the rent then that reduces the value at the bank so therefore the bank has to be credited. Assets, expenses and drawings increases on the debit/left side but when they decrease, they are credited/right.
The General Journal (GJ) is all the transactions in a chronological order. It just shows the records of all financial activities or transactions in the order that they occurred. You will then create sub-ledgers from the information provided in the GJ, i.e. Inventory, Capital, Bank, Accounts Payable, etc. The General Ledger is the book where all the sub-ledgers are combined. That is how I understand it...
How to easily Remember DEBITS and CREDITS | Simple Tip: th-cam.com/video/_AKoCgOlTcw/w-d-xo.html
I thought accounting was hard but watching your videos changed my mind, thank you so much. 😊
Thank you very much, you are helping me a lot. I had never studied Accounting in my life, until I arrived in an English country and they told me that they study Accounting. I didn't know anything until my teacher explained a little about CRJ and CPJ. She introduced me to you and you cleared my mind. Thank you very much, thank you very much. May the Lord bless you!
😁
It's my first time doing accounts at university and l can see that watching your videos will take me somewhere
Good is just amazing..... He brought me here just when I needed it. Praise His Holy name
You made it soo basic and understandable, thank you soo much
After watching your videos my grades have gone Up 😊😊 he is the best lecture
Love your simple explanations
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i did not study accounting at school but now i'm able to understand thank you
sir
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I will clear this course and I will come to testify
do accumulated depreciation values go to the credit side? also can you do a video of liquidation of a partnership? you explain things so well i have greatly benefited from your videos.
this is an awesome explanation..thank you so much
Wonderful explanation
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Thanx for you teaching us
Well understood thank you!
Why is the word "debit" used to indicate an increase on an account, when the word actually means "to
remove" or "take away from" just like it is used with a standard bank account?
Those are just names of the two sides in accounting. You will also note that the debit in accounting books signifies an increase for assets but for the bank statement it is the opposite. We explained why here: th-cam.com/video/GjjvV1dUKrw/w-d-xo.html
U r the best
Thanks man - really helped.
This is very helpful
Ur a legend ❤
Very informative. I have learned a lot.. Thank u so so much...
thank you alot sir
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Thank so much
Thank you very much
Thank you🍻
Thank you !!!
Thanks for the support ❤❤
Thank you
rewarding lesson, please help why expenses are debited? as for the debit side we record incoming money.
You can use the rule PEARLS+C
So on the debit it is P-purchases,E-expenses ,A-assets
On the credit side R-revenue(income),L-liabilities,S-sales,C-capital
So the according accounts increase when they are put in their initial side.Expenses will always increase on the debit side but will decrease on the credit.The initial place for expenses is on the debit side because we often buy things for households or businesses which increases out expense and expenses decreasing doesn'tsound that right .Income is recorded in the credit side btw
Thankyou so much,but only the depreciation and acc .depreciation I'm not understand clearly
Do you have some videos for columns cash book
No you really good thank you
Hi, can you please do a video on partnerships and cash flow statements
Hello there, we already have a video on cash flow statements here th-cam.com/video/UDFILLOdZuc/w-d-xo.html. Will do some videos on partnerships soon. thank you for the suggestion.
Pls explain what is to debit or credit an account? For example pls debit or credit my account. Is debit plus? Is credit minus?
Hi Some books say: Assets = Equity + liabilities whereas others put is this way: Assets= liabilities + Equity. I'm confused. Whenever I analyse a transaction I start with assets--- equity--- liabilities. Which way is correct?
Am interested it sir
please assist, I am confused now.
If the expenses and drawings are debit and recorded on left. meaning if the business pays rent (expense) does that not affect the bank? my understanding would be to record as follows Bank on minus on debit side and debit Equity
also, Income is an asset? why record on credit?
If the money comes from the bank to pay the rent then that reduces the value at the bank so therefore the bank has to be credited. Assets, expenses and drawings increases on the debit/left side but when they decrease, they are credited/right.
where do you put a rebate or discount ?
How can you know that a debit has increased or decreased
Please explain general journal😢
The General Journal (GJ) is all the transactions in a chronological order. It just shows the records of all financial activities or transactions in the order that they occurred.
You will then create sub-ledgers from the information provided in the GJ, i.e. Inventory, Capital, Bank, Accounts Payable, etc.
The General Ledger is the book where all the sub-ledgers are combined.
That is how I understand it...
I get confused with why liabilities are under credit instead of debit?
audio volume is too low
Post
Please try to speak louder...
Can you please help me
Please explain general journal😢