Accounting Equation | with Debits and Credits | Explained with Examples

In this basic accounting lesson, we explain what the accounting equation is, why the accounting equation is done, and we go through examples of how the accounting equation is done together with what account is debited and what account is credited. Check it out, we explain the three parts of the accounting equation, namely assets = equity + liabilities.
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[@ntandomhlanga7123]

I thought accounting was hard, but this time I am getting there though.

[@Jordicfit]

AMA pass, cabanga bio

[@pumpkinpie2141]

Thank you so much. I finally understand the accounting equation 🙏

[@austind.walker3173]

Yhoo This guy is so helpful, I can feel the distinction

[@asandemsweli6826]

Thank you sir now I'm able to understand Accounting equation it's became easy for me to know it

[@onyedikachidanielboyleokwa7377]

Learnt a lot, Thanks

[@yuvangovender6283]

Thank you for this channel.

[@mphoselebalo347]

Awesome stuff. The explanation is very clear.

[@ntsakisikhubayi3989]

Please record a transaction for returned goods, make the sale then it is returned. Where do we record returned or rejected goods?

[@Rightcore]

learnt a lot thank you

[@miguelinav7648]

I love when he says “ credit “ 👍

[@Hurvy_Lau_0256]

Thank you so much, I have been struggling with accounting equations but now all my questions have been answered ❤

[@othusitseonthusitse3536]

Hey sir,l just want to inquire
In terms of the equation,no.4(effect on creditors control) l don't understand why we put the _ sign becoz l literally think that when we,as a business pays out our debts,it should be a + sign since it's on credit

[@thandekamceleni8238]

Thanks a lot informative

[@rufaromatongo947]

Thank you very much for the video its very clear. may you also make a video on VAT Contol accounts. thanks

[@NthabisengMafaesa-kp4oe]

Thanks for sharing knowledge.

[@leratosibiya406]

I enjoyed this lesson. Big ups to you Sir 🎉🎉🎉

[@clarencechishaka7792]

man thanks you really helped me

[@avishkaprasanna8544]

lot of thanks sir

[@ntsikaymakay8]

Thank you very much

[@sesilianashongo3559]

how can i put this in the account equation? Receive the telephone account for January 2021, R1 680. this account was only paid in February 2021?

[@christinejohns4596]

Understandable

[@shonisaniramukhuvhathi6580]

Thank you 🙏

[@GeorginaRobert-wb4gn]

What if they ask to identify the transaction with the accounting equation.? How will i do it?

[@janemoepi2346]

Thank you so much I wwll understood everything. One thing that confused me on the second transaction on day 8. I used 25000x30/100=7500. I then minus that 7500 from the original sales amount which gave me R17500. was I wrong to use this method, because now our answers aren't the same...

[@Counttuts]

This lesson should help: th-cam.com/video/6RerwFD1zAo/w-d-xo.html

[@dawudmurjan6859]

Thanks 🙏

[@AngelNontempile]

Thank sir❤

[@isaacgray7042]

Thanks

[@enathisineke5104]

may I have your link

[@Rightcore]

i subbed you as well

[@steffe9051]

Where’s perpetual video I can’t find it that’s why am not getting well this lesson

[@user-cs8jn8de1j]

❤

[@ntsakisikhubayi3989]

Please record credit approval for a client. If we approve credit but the client has not yet spent the money

[@ivyayi8734]

Pls I have a question In the third example when you were accounting for inventory you put it under credited, for which I'm confused, cause I thought Inventory was an asset which I thought would go under account debited

[@othusitseonthusitse3536]

Hey there,l think l can be of assist,the reason why we credited the inventory was becoz it was going out of the business(it was sold)..
U get the jinx?
And if we hav had bought it,it was then that it was goin' to be debited

[@Counttuts]

Correct :)

[@nalakazizodwaomhle648]

Trading stock and inventory same thing

[@Kinganime830]

Pls give us an exercise

[@doublearoncas8782]

If an expense is a + on the debit side why did you record a -2000 for advertising? You’re technically adding 2000 to the expenses. It may be because you don’t have a column labeled expenses, I’m not sure but it’s confusing the heck out of me.

[@doublearoncas8782]

I’m also thinking in terms of a corporation, you may be instructing accounting for a single member llc or proprietorship.

[@othusitseonthusitse3536]

Hey there
I think l can be of assist,the reason why they put _ 2000 on the equities was becoz in general terms,the expenses decrease the equities.l want u to understand this:
Owners equity is increased by income n capital n is decreased by expenses n drawings

[@ReelsSkyler101]

Sir 25000X 100 / 130… where did you get 130?

[@othusitseonthusitse3536]

Hey there
I think l can be of assist, the reason we got 130 it was becoz,since we were calculating the Cost of Sale,we were given the mark up of 30% right...
And the formula for calculating C.O.S is: selling price× 100/100 +mark up