Accounting Transactions 4- Liabilities Dr & Cr

[adelle0001]

love the way you explain! thanks

[zbrusky]

ADEX and CARL--ADEX=Assets, Dividends, and Expenses (Dr. increases while Cr. decreases) CARL=Capital, Revenue, and Liabilities (Dr. decreases while Cr. increases)

[yralm07]

Hey Professor, I love you!!!

[MyLlamaDrama]

omg i wanna continue watching these helpful videos because I have an exam this week but AHH the squeaking of the marker and the ssss sounds is really annoying and omg kill mee x____x But great information btw :D

[hopaehab1]

are you teaching cpa? if not are you planning to do or not?

[sowmyacpati]

Can I call you mom ma'am !!!

[Zabytube]

O God- my mid term is in 1 hour, ty ty ty ty, u will make me pass :)

[shankarbh72]

You r very proffessional at what u do....Thank u for these awesome videos

[JerridPayne]

Great

[MetalBassjunkie420]

Suppose I billed customers for services performed. What happens to assets, liabilities, and stockholder's equity?

[zhelle0990]

@MetalBassjunkie420

an debit increase in assets ('cause you'll have accounts receivable since it is "billed")

and an credit increase in stockholders ('cause you'll earn revenue)

--am not sure though.. :3

[sam21711]

Good video, i am trying to understand this concept of dr and cr for assets and liabilities i cant get it. is getting = left and giving = right? i confuse dr= get and cr= give. wrong right? lets say i bought pens and pencils on credit. what should be the first thing in my mind when i read this.?

thanks

[Emotionengne]

@sam21711

The simple way to remember is this, Accounts that always increased by Debits: Assets,Dividents,Expenses. Accounts that always increased by credits: Liabilities,Equity,Revenue. So remember ADE= aacts increased by Debits. LER=accts increased by credits. In your example you will increase your payables because you bought on credit (ie liability). and also increase your asset because you received the pens and pencils. So should be Dr- Assets and Cr Liability. Hope it helps

[Kirrrak]

Greetings Susan,

Thank you very much for posting these wonderful videos, really appreciate your time taken to shot them. Susan I'm a gigantic fan of you. Keep up the good work and we all look forward to see many more videos from you.

Thanks a million dear.

Regards,

Sufiyan

[bellaka08]

SUSAN YOU ARE THE BEST!!!

[mohandkhaled]

dear susan crosson

i would like to thank you for your v.good video its so helpful.

keep goning never stop we need you ???

[crossovernepal]

Really happy to get the chance to see this beautiful video

[marcelprimed]

Susan FTW

[mustafasohail456]

Pls Tell Which One Is Correct (Reply On Comment) Q . Paid Electric Bill Rs $40? Ans 1: My College Teacher Told Me Electricity Expense (Debit) - Expense Increase Cash (Credit) - Asset Decrease Ans 2 : My Tution Teacher Told Me Expense Only increase when u turn on (use) electric appliances ..... And told me that its a liability Telephone Expense (Debit) - Liability Decrease Cash (Credit) - Asset Decrease Which One is correct And Also Tell Telephone Bill Here is Accrued Expense

[SusanCrosson]

Your teacher is correct as you are paying cash to pay the bill that was not previously recorded.

[mustafasohail456]

which teacher ??? college teacher (Ans 1) or tution teacher (Ans 2) ....

[SusanCrosson]

college

[mustafasohail456]

but we are paying electric bill ..... so why expense is increasing ..... expense must decrease

[hootini88]

Mustafasohail456 - your T1 is correct. Expense increases on Dt and it decreases when you Cr it. Expense is not liability (neither is Revenue) as it is paid already but is a part of P&L report - overhead(u call it IS) though. If you did not pay the bill but only accrue for it it'd be liability then (Creditors) but you'd have to have account for Electricity stock in assets(which does not make any sense in reality). You change Assets in BS and Expenses in P&L. I had a problem with it too mate.

[verdurer]

this is very helpful thanks

[vishowntar]

you are exceptional - thank you!

[greenbirdful]

great videos

[ThomasRW2]

all from the comfort of my weed tin and computer chair... i love internet.

[newcomer9747]

@ThomasRW2 can i have some of that you're having?

[lifeofalady]

I totally could have saved a lot of money just watching her, I am too excited right now. Thanks again, so helpful.

[Jill28321San]

Sooooo Good, Lady!

[daneilbertrand]

i love accounting sooo muchhhh

[indianladd]

In India Stocks are not issued where as they are converted from shares which have been issued previously...

Sec 2(46) of Companies Act 1956 of India defines Share as "A share is a share in the share capital of the company."

[geekcfa]

thats why satyam is in such a mess and the accountants played along and allowed such a big fraud :)

[DipologGirl]

This is great. I love accounting but I have a hard time learning about it. Thank you for this learning program.

[brco2003]

It becomes confusing when you talk about different transactions in sequence but use the same T accounts to mark them.

[xxSaraixx]

tell me about it.... My teacher doesn't explain at all.... so i have to look for other sources to learn... and this videos by Susan are being helpful so far... Yet they are confusing cuz of how the posting process of debits and credits...(depending on the account) oh gosh! but i know i will get it soon!  Good luck to you if you taking this class!

[tarang1990]

there is a simpler way my prof taught us.. to remember this..

what is the "DEAL" with "GIRLS"?

DEAL - dividend expense asset loss ( debit is an increase credit is a decrease)

GIRLS - gains income revenue liabilities and stock holders equity (debit is a decrease and credit is an increase)

[h2purple]

I love accounts it's not boring at all...