Sort by time | Sort by thread (beta)
Link to this comment:
Share to:
Loading...
- Your queue is empty. Add videos to your queue using this button:
or sign in to load a different list.
Loading...Saving...
This has been flagged as spam show
how come insurance expense at the end is $1600 and not $800. i don't get it. for months expense should be $800.
tariq101 7 months ago in playlist Tutorials
how come insurance expense at the end is $1600 and not $800. i dont get it. for months expense should be $800.
tariq101 7 months ago in playlist Tutorials
My brain officially hurts. I don't think I want to do accounting anymore. You teach well but my brain can not understand and retain this much information.
thissitesuxmytwat01 7 months ago 2
Put a copyright on the chart, adjusting entries are so easy to understand and remember, get some money for it!
AWSProspero 1 year ago 2
this video helped A LOT that cell chart is exactly what i needed to see to comprehend adjusting entries. Thanks
thelight1212 2 years ago
I get this. But what i dont understand is how do you know which section of the Deferred box to put in. I mean how do you know if its going to be balance sheet or income statement?
mojojojo911 2 years ago
The answer to the question comes from within the firm - both are correct in difference circumstances.
If you buy a 3-year insurance policy, dr. Asset; if you buy flight insurance at the airport, dr. Expense.
Short-lived things are conveniently sent to the Income Statement; long-lived, to the Balance Sheet.
In the real world, you can make your own decision. In Accounting classes, they will always tell you what the firm has decided to do, so you do not have to make that judgment.
enlight09 2 years ago
thank u very much for the videos...!!!
sicforsaken 2 years ago 2
God I hate adjusting entries.
megamunchit2008 2 years ago
I don't blame you: Adjusting entries ARE challenging!
The trouble is, they represent the single most important idea in all financial accounting!
Fail to decode these entries and you will have serious trouble for the rest of the year in accounting!
This video collapses the logic of your text's entire chapter on adjusting entries to 3 questions & a single page.
Fortunately, there are just 6 possible adjusting entries!
Do review the last 2 minutes of this video for handy rules!
Best wishes!
enlight09 2 years ago
Thank you...I hope I graduate out of Accounting. This is my last year and it is the toughest year.
megamunchit2008 2 years ago