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hahaha.... on the 1st transaction both accounts increase
Cash + 200 since it is an Asset account and
Revenues + 200 since it is sales.
henry8479 1 week ago
ty
makeiteasyable 2 months ago
Hi, i neeed some help in my accounting. My parents put me is a accounting collage. I have never done any accounting. It is all foreign to me. If any one is doing accounting, can you please help me?
TopazGoldStar 6 months ago
I believe she said this because you take in "cash". Then it becomes revenue- but if you are doing books you can't have both because cash you take in will be used for something. If you are keeping it in your revenue because you do not need to make a purchase with your "cash" then it remains a revenue. So in debiting "cash" and crediting "Revenue" you are making a purpose for the income and your books will numerically remain the same! So no she was correct.
PeachesL7 10 months ago
I believe sh said this because you take in "cash". Then it becomes revenue- but if you are doing books you can't have both because cash you take in will be used for something. If you are keeping it in your revenue because you do not need to make a purchase with your "cash" then it remains a revenue. So in debiting "cash" and crediting "Revenue" you are making a purpose for the income and your books will numerically remain the same! So no she was correct.
PeachesL7 10 months ago
Yeah. At 1:12 it should say INCREASE our cash account and increase our revenue account.
awesomeflix 1 year ago 2
isn't Cash at Bank Debit, Revenue Credit?
Revenue is Credit in nature, so increase with a credit. CaB is assets so debit in nature increase with debit.
this video is trying to FAIL us all. lol
ArticMuse 1 year ago
how can you decrease cash on debits and decrease cash in credits too??? I got confused this time! =/ you said we decrease cash when selling candles and decrease cash when buying supplies!! OMG!!
tattyalex 2 years ago
Good catch.
templecpa2002 2 years ago
1:12 I would never run a company that sold candles and in turn reduced the cash account.... REALLY what happens when you sell a product is you increase your cash account. To make money.... it's better for business
Greigem 2 years ago