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Пікірлер
@Lewis.Linnchannel 3 күн бұрын
This is one of the few very clear and easy to understand videos that get directly to the point.
@abdikadirsalad1572 5 күн бұрын
good job sir
@elycatrachita17 5 күн бұрын
You are an amazing teacher thank you for this class, it has been super helpful! Greetings from London
@stevenforce3344 5 күн бұрын
Glad it was helpful!
@Akeoiii 6 күн бұрын
Thank you so much man I have a test in a couple hours and this was super helpful!!
@stevenforce3344 5 күн бұрын
Good luck on the test!
@whereswally2362 7 күн бұрын
Thank you for the videos! I just finished my homework, you are the best teacher! Really helpful and simple to understand.
@stevenforce3344 5 күн бұрын
Glad it was helpful!
@chyne3249 8 күн бұрын
:)))
@AC-if4sz 11 күн бұрын
my professor is teaching us by using corporate accounting terms (common stock, dividends, etc) am i missing out on something if the terminology are differently taught?
@stevenforce3344 10 күн бұрын
This would be the terminology if you're working in a sole proprietorship. Owner's Equity becomes Stockholder's Equity (or Shareholder's Equity) when you are working in a corporation.
@NisarahmadSafi88 12 күн бұрын
income from operation is 400,000you added 24000 extra way i made confu
@saulocastro9747 12 күн бұрын
I started this video 50 minutes before my test and this saved me, thank you so much 🎉
@stevenforce3344 12 күн бұрын
Glad it helped!
@SylviaSchmitt-n3m 13 күн бұрын
Berenice Station
@relensonllaneta3685 17 күн бұрын
What if the net income is missing and thy have additional investment and bonus to a partner by 20% net income after interest and salaries?
@SodiqovaMuslimaSodiqovaMuslima 20 күн бұрын
Thank you so much
@robertlynch7950 23 күн бұрын
Well done. I am just starting Intermediate Financial Reporting 1 and it's been 8 years since I had my first Financial Accounting class. My most recent accounting class was Governmental Accounting about 4 years ago. Needless to say, I am rusty. This week is the accounting cycle and I am fine on some points but confused on others. This video is now bookmarked for reference. I just subscribed to your channel. Thanks so much for your efforts!
@stevenforce3344 23 күн бұрын
Happy to help!
@MargaretwambuiMuita 26 күн бұрын
Why do we arrange in liquidity
@stevenforce3344 26 күн бұрын
Listing in the order of liquidity allows users of the reports and statements to assess the financial health of the company. For example, they can see how quickly and easily a company would be able to pay back their debts, based on how liquid the company's assets are.
@victoriaweaver6662 Ай бұрын
you are amazing and you explain this so much better than my professor!!!!!!!
@yayadina7826 4 күн бұрын
I am telling you, he's perfect.
@ellaloredo Ай бұрын
How about if the expenses are missing the same as the Investment? I do not know how I can solve the investment without the expenses since I cannot get the Net income first without the expenses. Huhuuuu
@RaihanMuhammad-u1q Ай бұрын
😊😊😊
@MIGUELRAWR Ай бұрын
WOW ! Thank you so much , I was having such a hard time understanding but you explained it so well. I’m a hands on learner and this makes much more sense now !
@stevenforce3344 Ай бұрын
Glad it was helpful!
@squareball7017 Ай бұрын
Hi what happens if there's accumulated depreciation in post-closing? Will it still be credit side or will it be a negative value on the debit side? The problem with putting it on credit side is that the total sum value of the post closing trial balance doesn't match with the total sum value of the balance sheet... any idea on this? thank you so much!
@stevenforce3344 Ай бұрын
Accumulated Depreciation would still be a credit balance on the post-closing trial balance. The totals from the post-closing trial balance do not need to be the same values as the totals from the balance sheet. As long as the debit and credit columns equal on the post-closing trial balance, and Assets = Liabilities + Owner's Equity on the balance sheet, then everything is fine.
@squareball7017 Ай бұрын
@@stevenforce3344 i see, thank you! its also nice that you're still active on youtube helping people out
@witheredrose110 Ай бұрын
very helpful video
@YrrosSivan Ай бұрын
the entries in August 1 is Dr: Purchases Cr: accounts payable
@sapnasonker6784 Ай бұрын
😢
@DrKareemullahKabir 2 ай бұрын
It is really educative
@wowsod 2 ай бұрын
Thank you !
@daudadnan5 2 ай бұрын
god bless you and your family
@BonaaAbdii-e9j 2 ай бұрын
T
@ClaudiaArelyVlogs 3 ай бұрын
I can't thank you enough for this. I was struggling with my homework and didn't understand it, but you made it so easy. Now, I totally get it. I did one FIFO and LIFO by myself, following what I learned from you, and I got them all right. Thanks a bunch!
@Acc-Studbud 3 ай бұрын
Thank you so much,just found this playlist 3days before semester final.. This was so helpful ❤
@thandosdance1504 3 ай бұрын
Thank you for going straight to the point.
@Akshay2k07 3 ай бұрын
Learnt in 5 mintues thanks mate
@Flowerheart34 3 ай бұрын
I am still having trouble getting it.
@itsanh7203 3 ай бұрын
Can you make a video about periodic method as well?
@Adrian-cn5rk 3 ай бұрын
What if there's a loss instead of profit. Would you write it as Less: Loss xxx
@stevenforce3344 3 ай бұрын
Correct. The Net Loss would be listed under the "Less" section along with any Owner's Drawings you may have in that period.
@ambarjm3300 3 ай бұрын
i also looked up for many video regarding this topic but i found your video the most helpfull one. Thank you
@stevenforce3344 3 ай бұрын
Glad it was helpful!
@sharonjennettemaiba8595 3 ай бұрын
Thank you so much ✊🏼
@AbyalewHailu 3 ай бұрын
I want to ask that what is the interest? Where does the interest come from?
@UserName-hh7sl 3 ай бұрын
Tanks
@BriaMckenzie-mr3fk 4 ай бұрын
youre awesome you have the best videos and you explain everything in a simple way. Thank you very much!
@stevenforce3344 3 ай бұрын
Glad they're helpful!
@willrunkel356 4 ай бұрын
Great work, simple and to the point. Thank you!
@bluebioluminescence 4 ай бұрын
does it matter in which order you list out the liabilities and owner's equity?
@stevenforce3344 4 ай бұрын
Liabilities will always need to be listed before Owner's Equity. As for liabilities, it's best to list them out in order of the account numbers that a company is using. However, there is not a strict rule like the order of liquidity for assets. As for Owner's Equity, the only account that you'll list on a basic balance sheet will be Owner's Capital.
@bluebioluminescence 4 ай бұрын
how do you know which accounts will be higher liquidity?
@stevenforce3344 4 ай бұрын
Liquidity refers to how quickly an asset can be turned into cash or be used up. So, Cash will always be the most liquid. Here's a link that goes more into the rest of the list: www.accountingtools.com/articles/what-is-order-of-liquidity.html
@bluebioluminescence 4 ай бұрын
is adding investments optional? it sounded optional
@stevenforce3344 4 ай бұрын
It's not necessarily optional, but investments are not always going to happen during an accounting period. An owner may go a while before investing more in the business, so during those periods without any investments, they will not appear on the statement.
@bluebioluminescence 4 ай бұрын
i didn't realize it would be this easy! thank you so much
@KazakhKazakhstan85 4 ай бұрын
Great job, surprised why so litte views for such a detailed and clear explanation
@stevenforce3344 4 ай бұрын
Glad it helped!
@Oscar-rd3bm 4 ай бұрын
Question you said the second way to get the ending owner's capital was using the accounting equation and you said total assets of 27,120 minus liabilities of 6020 equals 20,100. but I get 21,100. can you please explain what I am missing here? Thank you
@stevenforce3344 4 ай бұрын
There was an error made when calculating the net loss, and that affected this calculation. If you don’t make a mistake like I did, you should be able to use the accounting equation!
@Oscar-rd3bm 4 ай бұрын
@@stevenforce3344 Okay Thank you . Btw you're an excellent teacher . You explain everything in slow a voice you don't rush through. I learned a lot from you. I appreciate it.
@xkvi3 4 ай бұрын
Omg It's easier than I expected for . I like your explanation style thank you for that
@stevenforce3344 4 ай бұрын
Glad it helped!
@EnthesKepas 5 ай бұрын
I love this thnks
@EnthesKepas 5 ай бұрын
Love this❤
@missy567ful 5 ай бұрын
All accounting students should never take online courses. We need teachers face to face.
@entertainocean1017 5 ай бұрын
You saved my life..thanks a bunch