Ok

kzbin.info/www/bejne/l5qWq4mHnb2ArK8

From the total customer deposits of 2.8 billion, which represent unearned revenue (a liability), an amount of 90 million has now been earned. This means we are transitioning a portion of the liability (unearned revenue/customer deposits) into earned revenue. To reflect this in the accounting records, we decrease the liability by recording 90 million on the debit side, and we simultaneously recognize the earned revenue by recording the same amount on the credit side. Essentially, we are converting unearned revenue into earned revenue, and the journal entry for this transaction is for 90 million.

In a bank reconciliation statement, the goal is to reconcile the customer's book (cash book) with the bank statement (bank book) by identifying timing differences and errors. Here's what is added and deducted from each side: Adjustments to the Customer's Book (Cash Book): Add: * Direct deposits by customers: Payments made directly to the bank account by customers but not yet recorded in the cash book. * Interest income: Interest credited by the bank but not yet recorded in the cash book. Deduct: * Bank charges/fees: Charges deducted by the bank that are not yet recorded in the cash book. * NSF (Not Sufficient Funds) checks: Checks deposited that were returned unpaid. * Direct payments made by the bank: Payments (e.g., standing orders, loan repayments, or utility payments) made by the bank on behalf of the customer but not yet recorded in the cash book. Similarly, Adjustments to the Bank Book (Bank Statement): Add: * Deposits in transit: Cash or checks deposited by the customer but not yet processed or credited by the bank. Deduct: * Outstanding checks: Checks issued by the customer that have not yet been cleared or presented to the bank.

Ok I will try to add some examples from A level or ACCA

The interest rate stated on notes payable is always expressed as an annual interest rate unless explicitly mentioned otherwise. For example, a 9% interest rate reflects the percentage of interest charged over the course of a year. However, since the question requires adjusting entries on a monthly basis, the annual interest rate (9%) needs to be divided by 12 to calculate the monthly interest expense. Additionally, the interest on a note payable is calculated based on the actual duration for which the loan is utilized. Whether the note is for 3 months, 9 months, or any other period, the interest expense is determined by applying the interest rate to the specific time the loan remains outstanding. It is important to note that the stated percentage (e.g., 9%) is annual by default, regardless of the note's term, unless specified otherwise.

@DrFarahYasser thank you ma'am!!!!🖤 you're literally the best, im going to study for my finals from your chapter 8th video right now -- if I get an A, you deserve most of the credit !!!!

Best of Luck

Indeed

Ok noted.

Most welcome!

not yet

Please watch it on HD

ok noted

You are welcome

@DrFarahYasser

Ok noted. Will upload next week

Not yet

Thank you

You're welcome!

Ok noted. I will prepare these lectures in urdu too.

You are welcome.

I'm working on it, will upload soon.

kzbin.info/www/bejne/i2ireIdmjayUd5o

When we multiply 100,000 shares by the $2 par value, we get the total value of outstanding shares. For the dividend calculation, the problem clearly states (in the last paragraph before the instructions) that the dividends are 50 cents per share in 2010 and $1.60 per share in 2011. Based on this, the total dividends (on common shares) amount to $210,000.

@DrFarahYasser Ok Ma"am...Thank you

MACRS method explained - kzbin.info/www/bejne/iXyZipqplJmqhqc

@DrFarahYasser tnx u so much

In this lecture, the discount on bonds payable is credited because it represents the reduction in the carrying value of the bond liability during the amortization process. Here’s the reasoning: 1. At Issuance of the Bond: The discount on bonds payable was initially debited because it reduced the proceeds received (cash) relative to the bond's face value. For example: Debit: Cash (amount received) Debit: Discount on Bonds Payable (contra-liability) Credit: Bonds Payable (face value) 2. During Amortization: Each period, a portion of the discount is amortized to recognize the additional interest expense incurred because the bonds were issued below face value. The discount is credited to reduce its balance (because it is a contra-liability) and bring the carrying value of the bond closer to its face value. For example: Debit: Bond Interest Expense (to reflect the total interest cost, including the discount amortization) Credit: Discount on Bonds Payable (to reduce the unamortized discount balance) This reflects the systematic allocation of the discount over the bond's life. By the maturity date, the carrying value of the bond will equal its face value, and the discount account will have a zero balance.

@@DrFarahYasser Thank you !

Yes i will upload all problems one by one

Mam plz upload questions 13.6,&13.7 ,my exam is after one day or you recommended any video solution plz

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You're absolutely right-the entry should indeed reflect the discounted price of $294. Thank you so much for watching the lectures so attentively and pointing this out for the benefit of others. The correct amount at 12:06 would be: Debit Cost of Goods Sold by $294 Credit Inventory by $294.

Most welcome