Accounting Equation

[makeiteasyable]

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[adelle0001]

thanks!

[enjoyheyo1]

Thanks a bunch! Really happy professors are taking the time to do things like this.

[825Terence]

Thank you so much John.

[kk292kk292kk292]

thank u so much im in 10th grade and were just starting the basics thanks i can understand this with u

[netbasis]

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[netbasis]

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[supernatdan04]

is accounting pretty hard to learN??? im htinkin about goin to school to do it.. not that good in math.. but.. i did accounting for the cafe at our school and i liked it.. comptuer did most of the math..

[originalsupergrover]

this video has been terminated

[junior1984able]

thank you

[junior1984able]

thank you.

[pcking2008]

QUESTION FOR COOLPROF

Can you explain a simple way to memorize Debit & Credit and where to put it on the journal. I admire your patients.

Angel

from Santa Clara, CA

[ohmitchiebabe]

Thanks for the video, it was easy to understand and follow :)

[bemant1]

thank very much it real help me

i got a question how about if the prepaid is 3600 and The one-year insurance policy was purchased on October 31, 2007. [Hint: The correct adjusting entry was recorded on December 31, 2007.]

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly.

[coolprof1951]

divide 3600 by 12; this gives you 300 per month; therefore, if adjustment are made quarterly, each adjustment is for 300 X 3 = 900. thus, 3600 - 900 = 3300 balance on Dec 31; adjustment on Mar 31 will be another 300. I hope this helps. jp

[TaTyTu777]

you look like a very respect full man. thank u very much

[mattrubin89]

Thank you! Thanks for putting in the time!

[svtuition]

Good tutorial in the deep study of accounting equation

Actually basically accounting equation is

total assets = liabilities + capital

out standing expenses is also liability and revenue will include in liability , so effect of oustanding expense will on liability and capital . Liability will increase and capital will decrease .

If we earn money , then capital will increase and in asset side cash which is current asset will increase .

Thanks for uploading video

[nurulqwe]

what capital? he didn't say anything about that. please answer back :)

[DavidTheSilencer]

Thanks a lot man I learned a lot through this video I have a mid term exam tomorrow. thanks again!

[AngryAngel69]

Hey, umm wow, I am so grateful to you for making this video, you've explained everything so clearly. I will start studying Accountancy on September, hopefully it will not be too stressful.

[moorm2008]

good job

[sereno093088]

what category would [paid creditors on account] i am a bit confuse. i don't know if it goes to supplies or accounts payable

[WhatsUpWithOurWorld]

how would you pay creditors on account? There's only accounts receivable or accounts payable

[iheartfannypak]

This is really good...just learned it in a class and you helped me understand it better thanks.

[coolprof1951]

What college do you attend? I'm just curious; I started this project in the summertime and just never had the time to finish it; now I just might be motivated to devote some time to it again. Thanks for your feedback; Aloha! :)

[iheartfannypak]

oh i go to riverside community college...yeah my teacher goes fast...and i kinda didnt get it but your video helped. like when i did that i read chap. 1 and 2 he just finished chap. 5 so im kinda behind lol. back to reading. thanks again.

[WhatsUpWithOurWorld]

The best way to learn accounting if you're starting is to get the Interactive CD's offered by Bringham Young University. Just go to 3w. accountingthelanguageofbusines­s. DOTcom