He is the best accounts teacher ever👏👏 he made me pass accounts by watching his videos, thank you sir❤ nuff respect!!🇯🇲 everyone knows about you in Jamaica
Thanks for your kind words :) Happy to hear that you passed accounts by using the videos. Wishing you all the best for the future. Thanks for watching :)
I never understood this topic when I was in school. But looking at this as an adult, really clarifies the concept when you explained it. Thank you so much for helping many students. 🇹🇹💯
I have a question A $1500 collection from a customer was received on December 29, 2016, but not recorded until the date of its deposit in the bank, January 4, 2017, how to do the correction?
Hi Grace 😊 So this wouldn’t have affected net profit. But it would definitely require correction. When we receive cash from a customer we would: Dr. Cash Cr. Customer So bank would go up and receivables would go down.
Hi! I'm not sure I'm following what you're asking. I'd need to see the question to better understand what needs to be done. You can send me a pic on instagram @adapttuition
Hello,, I don't understand why we are adding overstated expenses instead of subtracting and subtracting understated expenses instead of adding to net income.
Hi 😊 I explain this in the video and use the income statement to show why. If we overstated expenses that means that they were too high. This means that we subtracted too much expenses and thus net profit would be too low. When we fix the expense figure it would go down. And to fix the net profit figure we would have to increase it since the expense figure went down. The reverse holds true for understated expenses. If the expense was understated that means it was too low. This means that we didn’t subtract enough in the income statement and this profit is too high. When we fix the expense figure it would increase. And this since expenses are increasing this means profit would go down. Hope that helps 😊 And you should probably watch over the video and pay closer attention to when I show the income statement and what happens to net profit when we f correct errors. Keep up the good work 💪🏽🧠
😄 Thanks for noticing! Not many ppl do. I take inspiration from things around me or what I may have seen on tv or online earlier that day or a random memory or convo with someone. You never know what will make it into a video :D
Hey Nicardo 😊 It can be difficult to cover all the content in the syllabus in the time allotted for it. And, the COVID-19 pandemic hasn’t helped that. So maybe your teacher had intentions of teaching it but just didn’t get time to do so. In any case I’m happy that you’re here watching the videos and learning from them. Keep up the good work 💪🏽🧠
He is the best accounts teacher ever👏👏 he made me pass accounts by watching his videos, thank you sir❤ nuff respect!!🇯🇲 everyone knows about you in Jamaica
Thanks for your kind words :) Happy to hear that you passed accounts by using the videos. Wishing you all the best for the future. Thanks for watching :)
@@adapttuition welcome
@@adapttuition am happy your alive to teach us am happy your mother had you
I’m happy she had me too 👍🏽😊
literally
I never understood this topic when I was in school. But looking at this as an adult, really clarifies the concept when you explained it. Thank you so much for helping many students. 🇹🇹💯
Thank you for watching and for your awesome comment 😊
Happy to hear you understood the concept from watching the video.
Wishing you all the best
Alright thanks,, I went over the video again and understood
Happy to hear that Lilian 😊
Keep up the good work 💪🏽🧠
You got this 😁
Your videos are God sent thank you so much for posting
Glad you like them! :) Keep up the good work!
it is the best demonstration of the problems. I appreciated it.
So happy to hear that, Grace 😊
Keep up the good work!
You are the best teacher i have listened to😍, thank you, im becoming a pro...😉❤
Happy to hear that, @carolinembatha6327!
Keep up the good work!
Thanks so much man lovely explanation
You're welcome! Glad it helped!
Keep up the good work :)
I have a question A $1500 collection from a customer was received on December 29, 2016, but not recorded until the date of its deposit in the bank, January 4, 2017, how to do the correction?
Hi Grace 😊
So this wouldn’t have affected net profit. But it would definitely require correction.
When we receive cash from a customer we would:
Dr. Cash
Cr. Customer
So bank would go up and receivables would go down.
Kindly guide if we have higher earned rent income from unearned rent income what adjustment entry will be passed
Hi! I'm not sure I'm following what you're asking. I'd need to see the question to better understand what needs to be done. You can send me a pic on instagram @adapttuition
Hello,, I don't understand why we are adding overstated expenses instead of subtracting and subtracting understated expenses instead of adding to net income.
Hi 😊 I explain this in the video and use the income statement to show why.
If we overstated expenses that means that they were too high.
This means that we subtracted too much expenses and thus net profit would be too low.
When we fix the expense figure it would go down.
And to fix the net profit figure we would have to increase it since the expense figure went down.
The reverse holds true for understated expenses.
If the expense was understated that means it was too low.
This means that we didn’t subtract enough in the income statement and this profit is too high.
When we fix the expense figure it would increase.
And this since expenses are increasing this means profit would go down.
Hope that helps 😊
And you should probably watch over the video and pay closer attention to when I show the income statement and what happens to net profit when we f correct errors.
Keep up the good work 💪🏽🧠
What does carriage inwards behave like?
Hi, Carriage Inwards is an expense 😊
So if it increases, profit decreases.
If it decreases, profit increases.
How to prepare partners appropriation account
Check this link
th-cam.com/video/Jxi6467lsHk/w-d-xo.html
Learned more
Happy to hear that!
Plus your accent❤❤❤
😄😄
Sir how the muppets ended up in the last example 🤣🤣 Munah Munah...
😄 Thanks for noticing!
Not many ppl do.
I take inspiration from things around me or what I may have seen on tv or online earlier that day or a random memory or convo with someone.
You never know what will make it into a video :D
thx sir your videos are very helpful and informative
Super happy to hear that, Aleeyah 😊
Keep up the good work!
Any cape accounting videos sir?
Hi! Those are a long way off. But thanks for checking in 😊 hope you’re well.
Sir please take a class about consignment
Hi! That topic is not on the syllabus I teach and as such I won't be making videos on any such topics any time soon.
@@adapttuition ok sir
@@adapttuition thank you sir
My goodness where is the catalogue with all these names used in the examples....Bonobo Gorillaface 😩😭
😂 compiled over years of “research”
ello sir i hope youre doing fine and everything🤍🤍
I’m well, thanks 😊. Hope you are doing well too!
Thanks
You're welcome :)
My teacher fail to teach the class this topic that’s way I am here.
Hey Nicardo 😊
It can be difficult to cover all the content in the syllabus in the time allotted for it. And, the COVID-19 pandemic hasn’t helped that.
So maybe your teacher had intentions of teaching it but just didn’t get time to do so.
In any case I’m happy that you’re here watching the videos and learning from them.
Keep up the good work 💪🏽🧠
Please sir
Please see my previous response.
Sorry about that.