You're very welcome!

Thanks for your feedback! What do you prefer about them?

Thanks for your kind words!

Sorry to hear that! You may find this video useful: kzbin.info/www/bejne/a4qWqJ1-Ypuafs0

Which part is causing you trouble?

@@AccountingStuff I don't understand for cash account (and other accounts) how it goes into credit side or debit side. When you took loan you got cash so that should be credited to your cash account but you said it is debited. Can you please explain me that concept.

Thanks Jack! Great to hear you found it useful :)

You're very welcome! You may find this video useful too: kzbin.info/www/bejne/a4qWqJ1-Ypuafs0

You're in the right place! Which concepts are you having trouble with?

@@AccountingStuff The basics really. Can’t wrap my head around: T Accounts, Income Statements, Trial Balances, Statement of owners equity, balance sheets and the whole balancing credits and debits.

Hey there!! Great to hear you found this useful :)

Have you been searching for long?

@@AccountingStuff yes

@@pradeepsarode4934 Best of luck! I hope you land one soon

@@AccountingStuff !!Thank you!!

Some people use the terms Capital and Equity interchangeably. I prefer to use Equity because Capital can get confused with Capital Contributions which is just one component of Equity.

@@AccountingStuff okay I understand but which is the proper sequence of trial balance Some ppl say Asset Liability Expense Revenue Equity And other say Asset Liability Equity Revenue Expense

@@ShafayAhmed-ju1hd It depends on the account codes that have been chosen. But I would say that the second method you have shown is more common

Hey Aneta, thanks for your request!

You're very welcome :)

For sure! "Common Stock" is an Equity account. When a business issues Common Stock for Cash, Common Stock is credited to reflect the increase in Equity.

No worries, this isn't a test! Here are the answers: 1. TRUE - The Trial Balance lists all of a business’s accounts. This includes both temporary (Revenue, Expenses & Dividends) and permanent accounts (Assets, Liabilities & Equity). 2. TRUE - The Trial Balance can help identify errors such as transpositions (recording $96 as $69) and slide errors (recording $1,200 as $120). 3. FALSE - Net Profit isn’t included as a line item in the Trial Balance. The TB does include a business’s Revenue and Expense accounts which can be used to calculate Net Profit. 4. FALSE - A zero balance simply means that the Total Debits equal Total Credits for that account. It doesn’t necessarily indicate that no transactions occurred during the period. 5. TRUE - An Unadjusted Trial Balance is usually prepared before posting Adjusting Entries. Once posted, a business runs an Adjusted Trial Balance which reflects those adjustments.

Great to hear you're finding these videos useful!

Thanks for your request!

Hope you learned something!

Nice one 👍

A zero balance simply means that the Total Debits equal Total Credits for that account. It doesn’t necessarily indicate that no transactions occurred during the period.

@@AccountingStuff oh i get it thanks

@@groliamhame806 Glad it makes sense :)

Thanks, glad you enjoyed it!

Of course! A zero balance simply means that the Total Debits equal Total Credits for that account. It doesn’t necessarily indicate that no transactions occurred during the period.

Great to hear you're finding these vids useful!

Thanks! I'll keep posting a new one each week :)

@@AccountingStuff Great! I'll surely be watching them all. Truth be told, I binge watched all your shorts yesterday and learned a lot! This is the best accounting related content I've come across KZbin.

@@Pestrutsi Hope you found them useful!