lecture 4: recording transactions

[chitownzprinz]

I got an easy mnemonic for remembering Debits and Credits... D.E.A.D. you Debit all Expenses, Assets, and Dividends. You credit everything else.

[VolcanicDrum]

Thank you soo much. You made it easy to understand.

[kehinde77]

This is a great piece of work, I love it.

[rezalitious]

I have a hard time with applying to things that require "paid on account, or paid to account on credit, dealing with other things like commission" is there any help for this ?

[khatibi1711]

You are awesome! Thank you. PLEASE post more videos!

[sanjuvulu]

your damn good......u made me easy to learn debits and credits

from now u r my guru

[makeiteasyable]

ty

[kebongski]

holy shit you are amazing

[tommyrid90]

Legend!



[mhamadac]

I'm in my third year accounting program at WLU, and i have NEVER understood Debits and Credits until I've watched this video. HIGHLY RECOMMEND!

[dlfite10b]

i have a simple method of the debit and credit :-

R- real account all the assets which you can touch see come under real accounts example- cash,building,furniture,machin­ery etc and the rule is Dr what comes in and Cr what goes out

N -Nominal account- the things like expenses losses profits etc come under it and the rule is Dr all expenses and Cr all incomes

P- Personal - all the entries which have personal name involved are personal accounts like sam, etc & rule Dr the receiver & Cr the giver

[bluhurricane5]

THANK YOU!!! I wish u taught my class!

[hlnwitch]

You are an amazing teacher, it would be great if you could offer more lectures here on Youtube

[hlnwitch]

Can you please explain cash flows? I am having a hard time understaing that topic

[billy786tiger]

thnku sir GOD bless u.lov u for this.

[klientkid]

THank you sir! From Philippines.

[sakuraXsyaoran0217]

Thanks for uploading such nice and educational video ! You don't know how thankful I am ! :)

[khattak350]

bundles of thanks,i watch your videos and i got a lot of concept. thanks again

and best wishes all the time

[xxbonjourlacexx]

This is great :)

[JustJenPlz]

amazingly helpful. now that I understand it, I don't know why I couldn't get it before. Thank you for explaining it so clearly!!!

[jmark00meipia1]

im not really good at english so anyone here could answer my question. IS INVESTING IN A FIRM DEBIT/CREDIT?? tyvm. :)

[ze22zo]

I swear to to god I thought there was no chance to pass this course until I watched your videos, you rescued me from a deep problem and I wish to be your student . I'd be very proud of you as I'm sure your students do . Thank you sooooooo much sir

[AhYaOk]

thanks a lot! this is making sense. sometimes i think my accounting teacher wants us to fail.

[pazadenooo]

Your great i thought i would fail this but now i have a month to study before my final exam and you really saved my life sir .... Norway is thankful wish we had you to teach us here , They Need accounting teachers in Norway there is a business school that teach in english you would be a millionaire if you consider teaching there , we have a lot of american teachers working at the school.

[somesto1]

when you invest money in a business, the business is yours but according to accounting point of view, that business owes you something. a debit is something that the "business" owns while the business owes you . so when you start a business ur capital is going to be your credit however, the cash invested in that business, assets,etc.are debits, don't forget that what the business owns is the debit, what the business owes is liabilities

[byen8]

I don't understand why an asset is a debit, I thought an asset would be a credit.

[jimmytwotimez]

wow i wish this video and the others were around before 2005....i would have chosen Accounting as my major in an instant

[kol3la60l]

thats much easier than my class

[ryanisnicer]

you taught me, in 4 episodes, what my accounting teacher couldn't teach me the last 6 weeks.. i should have the school send you some revenue that my professor shouldn't be earning.. undeserving revenue?

[Lovelastiing]

i dont need textbooks. need this video. and i pass my exam! i did slightly better than average. I am so thankful :DD

[VietnaMe3]

what a god

[Nazrikgo8]

u r a gread sir 

[DrakuzDarkSith]

it just sounds like a scam. lets analyze it from the point of view of the business...

i paid a guy to stick something on a debit side, and then stick it on the right to count as a credit. subtract it from it self so the answer is ZERO EVERY TIME. yes he did work. he made the balance Zero for me. he either added to a negative or subtracted from a positive. and i paid him to do it. he' is an accountant. i am a sucker.

[DrakuzDarkSith]

DR - CR = profit....

what is the point of DR + CR? if your subtract your debits or credits From Itself. the balance is Zero. whats the point? its taking an extra step which is just doing something twice. so Multiply the number of tasks in this by 2. (since your doing it twice.) then realize your wasting twice as much time. DR - CR = Profit. (hopefully this is a positive number.)

ok now someone figure what im talking about. what he's talking about. and translate because im lost lol

[billpoo90]

I'm a biology student studying a basic business module that is essential to my course and up until watching these videos I was very skeptical about passing my exam tomorrow in basic accounting. Your explanations in a half an hour have taught me more than 12 weeks of lectures which only served to confuse me.

I am eternally grateful for your efforts and a LOT more confident about my test tomorrow. Thank you very much, this series is one of the most useful and informative I have seen on youtube.

[ccmoore1984]

אלוהים יברך אותך!

[nithinedach]

u rock sir thanx alot saved a year for me

[Cr0pTechSupp]

I wont be surprised to see an A on my answer sheet :)

[tameromara]

again... another excellent video.. thanks al million.

hope to see more videos from you

[tameromara]

omg... excellent lecture. i really hope u post more videos.

by far the most useful on the tube!!

[vipulawick]

Simple and understandable ,,

Thank you very much

VIpula from Sri Lanka

[afg12]

Thank you soooooooooooo much

[manu120576]

Long live the chief of Dr and Cr. I loooooove these lessons and feel sooo enlightened. Spreading knowledge is the best thing humanity can do. Thankyou

[ningunners]

Thank You so much !!!

[montymagic1987]

legend!

[bobichina]

You are the BEST!!!

[blackbuttafly7]

RELIEF!!!! I TOTALLY GET IT NOW!!! YOU ARE THE BEST TEACHER:DETAILED AND VERY THOROUGH!!! THANK YOU SOOO MUCH!!!!

[janicehada]

You totally SAVED me! I was beginning to think I could not get the hang of this. Thank god for people like you!

[hossamrida]

That was extremely helpful yet again, I love the way you simplify things

[inthefuns]

Thank you so much for making these videos- they truly have made understanding accounting 100% easier... let's just hope this translates to 100% on my test scores :)

If you ever want to make money you should set up a website for paid subscriptions... I would gladly pay!

[yunxin1984]

THANK YOU SIR! nothing cld be more helpful than this =))

[caffeinesa]

who da man?? YOU DA MAN!

[hazelnut23]

PLEASE MAKE MORE VIDEOS ...you make accounting so simple :P

[barbados496]

great task

[princessmaryo]

Thanks for taking the time to teach us this!

[JOHNNIEL1]

That's a common mistake that students make thinking assets and revenues are debits. For now just stick to memorizing the rules of how the various accounts are increased and decreased and don't ask why. The more you work the problems out the "why" will eventually come.

[mrsweetg1]

When revenues go up does assets not go up as well? so thats a debit as well????

[IAngelitoI]

I loveeeeee you...... and i almost switch my major cuz my professor couldnt teach something as easy as this. Or maybe you are so good at this that you break it down for us to make it seem easy

[mrsweetg1]

thankks

[Barcepepa]

Thank you!! Thank you!! I understand this : )

[flandipeters]

cheers boss, very helpful. can you help me with adjusting journals. excallent teacher!!!!

[logik99]

12 hours before my exam ... least i finally understand debits and credits! ... great work keep it up

[ramia184]

wow this was very helpful !!!! could you please upload a video on fifo and lifo it's very confused for me !

[TheLangdigaun]

Thank you sir, very nice and easy to understand self study video. such a video is wonderful gift for us. Thank again n again for posting this video.

[zzohaibmalik]

bundle of thanxxx sir..!!

[ssanders6]

I wish my professor had a *fraction* of the talent and passion you have, sir. My professor is so horrible it is practically a self-study class, which makes videos like yours so great. Thanks!

[jin29neci]

thanks!!! very helpful. more videos pls!!!!!!!!!

[roach125]

This is great! Thank you very much for the video!

[ashgaerlan]

Veryyyy helpful, thank you!

[kholidkhan]

very very helpful thanks for posting

[zanydelights]

This really helped me out with some home work :) thanks!

[enitsirchjoyful]

nice video, it's very helpful