Basic Accounting | Accounting Cycle Step 5. Preparation of Adjusting Entries

[@FilipinoAccountingTutorial]

This video requires understanding ng adjusting entries. If hindi po ikaw confident sa level of understanding mo about adjusting entries, please consider muna watching yung buong "Basic Accounting-Adjusting Entries" sa playlist namin. Yung comprehensive lessons po kasi for better understanding ng video na ito ay nandun po lahat sa playlist na 'yun. Ito po ang link ng adjusting entries playlist. Salamat po. kzbin.info/aero/PLl-IwImaCVm7KHHk48hecfI2JbShcEQTd

[@lunanaclov364]

Good day po! Do we include the adjustments on General Journal po or direct na lang sa Ledger?

[@hanalim3553]

(Not related to the topic) He is that type of teacher who’s so intimidating. ‘Yong tipong pag-discuss pa lang, matatakot kana kaya mapipilitan ka talagang makinig sa discussions para di ka ibabagsak LMAO. Thank you po pala dito sir! Helps a lot ✨

[@FilipinoAccountingTutorial]

You're welcome, Hana. We're happy it helps ❤️ Mag aral nang mabuti ❤️

[@forjw_]

Grabe Sir, thank you so much! mas naiintindihan ko pa po 'to kesa sa Prof namin.

[@FilipinoAccountingTutorial]

You're welcome, jef 🫶 Mag aral nang mabuti ❤️

[@biyoy.]

Sir, salamat po. Your videos from the start really helped me especially modular lang kami sa SHS, because sa vids mo na review at natama ang nalalaman ko especially upcoming na f2f namin sa College. Though binalik ko talaga tong topic kasi yung acc titles na confuse ako pero g lang. Salamat sir!

[@FilipinoAccountingTutorial]

Walang anuman, biyoy 🙂 i'm glad it helped you ♥️ Goodluck on your college journey, mag aral nang mabuti 🙂

[@rafaeldavid3168]

Na re-fresh ako sa accounting course ko..way back from college days... thanks Sir... More power...

[@FilipinoAccountingTutorial]

You're welcome, rafael 🙂 more free accounting videos here in our channel. We hope it will help you 🙂

[@chynamarielegaspina6463]

Magiging CPA rin tayo

[@FilipinoAccountingTutorial]

Hello Chyna. Amen! Dasal, Sipag, Tyaga at wag susuko para sa CPA title! 👍

[@stephenflorlumapas7209]

Tiwala lang tayo maam. CPA na tayo nito. Amen

[@baileybish1927]

Kamusta?

[@aminablangan289]

This is good than my 6hrs lesson with prof😭

[@FilipinoAccountingTutorial]

Thanks, amina 🙂 Hope this video lesson will help you. Mag aral nang mabuti ♥️

[@solomonannegabriellea._bsb4432]

Super duper thank you po sa inyo! Mas naiintjndihan kk kesa sa prof. Ko 😍

[@FilipinoAccountingTutorial]

You're welcome, anne 🙂 mag aral nang mabuti 🫶

[@perilloadelak.3609]

Maraming Salamat po for your effort. Mabuhay po kayo❤

[@FilipinoAccountingTutorial]

Welcome!

[@louisesaito8408]

Thanks for these videos Sir! Sana po gawa kayo ng videos hanggang sa pinaka-last step ng Accounting Cycle :)

[@FilipinoAccountingTutorial]

Hi Louise! Sure, itatopic ang lahat ng steps ng accounting cycle dito.

[@edmundopusta8140]

Tnx a lot Bro Surely you are a blessing to many like me

[@FilipinoAccountingTutorial]

You're welcome Edmundo. We are happy to help.

[@sushi9478]

Thankyou po. Sobrang litong-lito po kasi ako kasi walang nagtuturo tas di pa sapat yung sa module na example tas napadpad ako dito, laking tulong po

[@FilipinoAccountingTutorial]

You're welcome, Angela. Masaya kami makatulong. Mag aral nang mabuti ❤️ Marami pa mga videos dito about accounting. We hope makatulong din yun to supplement your modules ❤️

[@sushi9478]

@@FilipinoAccountingTutorial salamat po ng marami sir. Currently watching pa din po habang sinasagutan yung exam.

[@FilipinoAccountingTutorial]

Thank you for trusting our videos, Angela. ❤️

[@sushi9478]

God bless po...

[@Juggernaut_22]

Nakaka overwhelm ang adjusting hehe pero nice tutorial 😊

[@FilipinoAccountingTutorial]

Thanks. Hope this video will help ❤️

[@ikemenstudio1575]

Your videos are very helpful po. Hopefully you can write off sa actual ledger or journal sheets po sana. Waiting for the other steps :)

[@FilipinoAccountingTutorial]

Hi Adelicia! Yes, dadating tayo dyan. for the meantime, we have to elaborate muna yung mga adjusting entries for the worksheet preparation.

[@talktoday2847]

Sir thank you, malaking tulong po saakin videos mo, nag aaral na po ako ngayon sa pamamagitan neto. Ang lakas, pakiramdam ko nka online class lang ako. Godbless you. Hndi ko po iniskip lahat ng ADS nyo, balik na rin po sa inyo. More power and learnings to share. Godbless po 💖✨

[@FilipinoAccountingTutorial]

Malaking tulong din sa amin ang di pag skip ng ads. Salamat din at masaya kaming maging parte ng online studies mo 🙂

[@huoyuhao4294]

salamat po sa knowledge nyu sir!

[@FilipinoAccountingTutorial]

Walang anuman, huo 🙂 Hope this video will help you ♥️

[@ismaelusares8917]

Thanks a lot po malaki natutulong niyo po samin bago pa lang pwede po bang gumawa kayo ng vid about closing entry

[@FilipinoAccountingTutorial]

Welcome Ismael!

[@Ashi-y9w]

OMG THANK YOUUUUU😭😭😭

[@FilipinoAccountingTutorial]

You're welcome, uriboooo 🫶 Hope this video lesson helps you ❤️

[@chimeric9684]

This videoo is a great help

[@FilipinoAccountingTutorial]

Thanks chimmTm

[@mrM-kl9kn]

isn't it unearned deferral revenue?

[@ma.marielconcepcion4150]

thank you po dito

[@FilipinoAccountingTutorial]

You're welcome, Mariel 🙂

[@reblorarenelynr.-aujrhs1231]

Hello po! hindi po ba nag unadjusted trial balance before adjusting entries?

[@aliah_sanchez]

Assumption lang po ba dapat ang gawin kapag hindi nag-start sa May 1 yung acquisition of asset?Hindi po ba idi-divide sa 360 to get the standard amount in days po tapos i-multiply sa total number of days incurred yung expenses? Any reply would be so much appreciated po.

[@kisikisi4766]

SAME QUESTION HERE! 😭 I'm currently thinking about the same thing and deadline na mamaya kaya hopefully malaman ko yung sagot hahaha

[@yukine-n7n]

hello sir. kapag wla po initial journal entries, pano po malalaman kng asset method o expense method ang ggmitin? thank you po!

[@venusdeguzman8299]

Hi I am watching your playlist. Do you have sequence of video to watch for basic accounting 1? :) Salamat po and advance Merry Christmas 🎄

[@FilipinoAccountingTutorial]

Hello, Venus! Thank you for watching my playlist. And yes, I have basi accounting 1 playlist! 🙂 Here is the link to the basic accounting playlist. Pakicheck na rin ng mga pinned comments ng bawat video para sa iba pang details. Merry Christmas! ❤️🌲 kzbin.info/aero/PLl-IwImaCVm7FDTaw6Xh5urQM9HYWFRau&si=yWFMPl-q7acfgj1i

[@efjaymagno4845]

Hello po, badly need your help po. I'm always watching your videos po. What if yung maging given problem po sa adjusting entries is one month rent and insurance expense has been utilized pero sa misming problem naman po is walang rent na nabanggit maski po sa mga accoun titles wala rin pong rent. Kahit na nirentahang bagay o gamit. Paano po yun?

[@catherinesarabia8402]

Sir ano po yung salvage value na inaapply ninyo sa service vehicle can u explain it. Thanks

[@FilipinoAccountingTutorial]

Hello catherine. Sa discussion ng accounting topics ang salvage value information, most of the time, ay available na. No need to compute, no formula needed to compute salvage value. Given na sya madalas. Hope it helps.

[@KpopPhilippineschannel]

Pano po kung walang transaction sa pag gawa ng worksheet. Meron pong transaction pero sa unahan lng po para majournalize, malegder, t account, at para matrial balance. Pero pGdating po sa worksheet wala pong ganyan na may transaction para sa adjustment entry. Pano po yon. Sana po masagot dyan po kasi ako namomroblema.

[@dynamicnight9234]

Kasali po ba ang adjustment sa T-account?

[@christopherjohncardona9458]

Given po ba ang problems para dito? O kami pa mag gawa, kasi wala sa book eh, gust ko sana practisan, kaka tapos ko lang sa journal entry, t chart, trial balance, income statement, OE, balance sheet, please po respond

[@yennielu]

sir bakit po inassume na 1 month po yung b kahit na di naman po sya naka 30 days?

[@alexandriafaustino2827]

Hi sir, can u please upload na po the remaining steps in the accounting cycle🥺 We'll be having quiz bout doing those 10steps😭

[@FilipinoAccountingTutorial]

Hello Alex! Sure, maa-upload din lahat ng cycle, but we cant commit on exact date kung kailan ito maupload.

[@alexandriafaustino2827]

@@FilipinoAccountingTutorial okay sir! Thankyou so much💗

[@thesunstarotguide]

hi po ask kolang po if same siya ng statement of performance?

[@imwideawakee2587]

hello po. can u please help me po kung pano gawan ng adjusting entries itong transaction: on feb 12 a piece of Cooking equipment was invested in. assuming that the salvage value and useful life were determined to be 1,000 and five years please po help me

[@clarissearmamento7456]

Paano po kung hindi nagbigay ng adjusting entries for adjustments?

[@potatotwisha]

sa letter c, why accounts payable ang credit? di naman binili ang supply on account?

[@potatotwisha]

sa original entry to ^

[@Yanshiiuwu]

Hello sir, sa letter a and b po pwede bang gumamit ng expense method instead?

[@FilipinoAccountingTutorial]

Hi Yanshiiuwi. Sa part na ito, hindi pwede 🙂 specifically kasi ito na asset method kaya hindi tayo pwede magbago from asset to expense method. Hope it helps. ♥️

[@pxlnatsuwi8468]

Sir ano pong adjustment nito? Naguguluhan po kase ako e. The notes recievable were accepted from several customers. The notes were issued on Sept. 1, 2019 and will be settled together with a 20% interest on May 31,2020

[@pxlnatsuwi8468]

Note recievable - 360,000

[@FilipinoAccountingTutorial]

Hello Pxl. Alamin mo muna ang year end ng accounting period. Hangang year end lang ang interest income.

[@abishixa]

sir request lang po, i hope u also explains why like for example the entry is depreciation, so why is it depreciation po, im a slow learner lanh po kasi and im not really good in account titles hehe

[@abishixa]

like sir in letter E. pano po naging cash and accounts payable hindi naman nabanggit sa transaction po na on account and the amount sir

[@FilipinoAccountingTutorial]

Hello abegail. Prior to this video lesson, meron pa kasi itong mga video lessons na dapat panoorin bago ka magproceeed sa video na ito. And ang mga video lessons na iyon ang makakasagot sa mga questions mo 🙂 You might check my pinned comment sa video na ito ♥️ All of my video lessons are intended sa mga beginners sa accounting, at connected sa isat isa ang mga basic accounting videos ko. Hope it helps 🙂

[@aicee1955]

Sir may video po ba kau ng special journal using source document? Thank you. 😊

[@FilipinoAccountingTutorial]

Yes, Ai. Meron kami video about special journals 🙂 Hope it will help.

[@aicee1955]

@@FilipinoAccountingTutorial thank you.

[@li_ca4457]

Hello sir, ask lng Po if Isa isahin papo ba talaga Yung mga transaction if gagawa kana Ng adjusting entry? Confuse lng Kasi Ako Kasi d pa tinoro Ng teacher namin kung papaano mag adjusting entry pagkatapos Ng trial balance tapos binigyan agad kami Ng seatwork

[@FilipinoAccountingTutorial]

Yes, lica. Ganun muna kapag beginner. Pero pag nasasanay na, you may simply not write down the "originating journal entry". Nilagay ko lang yung "originating journal entry" para mas kita ng mga newbies natin sa accounting yung mga basis ng adjusting entries. Hope it helps 🫶

[@macmackpatubo921]

Paanong nakuha ung leter d. Dun 420,00-84,000÷7, e ang result saken ay 408,000

[@srteamilktea8296]

Sa transaction letter h.. Pano niyo Po nakuha Ang 3.5k sa 210k*20%*1/12=??

[@draskyl8372]

Sir panu po malalaman kung depreciation na po ang gagamitin na entry dun sa problem? Kung anu po sir yung mga pwede maging hint para madetermine po na depreciation expense and accumulated depreciation yan lang po sir yung hindi ko naintindihan haha

[@Thrive2024]

Malalaman nyo poyan once yung isang equipment ay na devalue or depreciate ex. nabili mo yung kotse sa halagang 150,000 and salvage value nya or mag dedepreciate yung value nya after a year.

[@nan-uk8nd]

Hello Sir! What if the transaction occurred in the middle of the month po, like for example September 21. Paano po icocompute yung adjusting entry niya? (Assuming that the reporting date is September 30) Icoconsider po ba siya as 1 month or sa next month na po siya ma-aadjust?

[@FilipinoAccountingTutorial]

Hello, nan Kung salaries or interest yan, most likely you consider pa rin from Sep 22 to 30. Otherwise, you read pa the problem baka may given kung iasssume as if Sep 30 na. Hope it helps 🫶

[@nan-uk8nd]

@@FilipinoAccountingTutorial thank you po!

[@FilipinoAccountingTutorial]

You're welcome, nan! 🫶

[@thechosen2001]

Sir? paano nyo po na determined if asset method, liabilities method ang isang entry?

[@FilipinoAccountingTutorial]

Hello Jessica! Dahil sa originating entry ng transaction. You can watch our basic accounting adjusting entries playlist para sa kumpletong lecture about those methods. Hope it helps.

[@khainaaguas1231]

WIN BALLADA AND SUSAN BALLADA TEXTBOOK

[@zionziaschannelthesiblings5786]

Paano po irerecord accrual of salaries

[@KingEnFamChannel001]

Hi sir tanong lang po pano pag given na yong trial balance, tas gawan ng worksheet, pano po yon nalito ako sa adjustments.? Thank you.

[@FilipinoAccountingTutorial]

Hello KingEnFam. Please watch yung accounting cycle playlist namin. Nandun ang sasagot sa questions mo. Hope it helps.❤️

[@KingEnFamChannel001]

Ok na sir salamat

[@odessadejesus3609]

Pag wala po ba salvage value non ganito po ba ang formula 420k / 7 = 60k / 12 = 5k per month?

[@FilipinoAccountingTutorial]

Hello De Jesus. Correct. If walang salvage value na given, compute straight line depreciation as if na ang salvage value = 0 Hope it helps.

[@michanicvlog]

Di ko maintindihan yung 210k x 20% x 1/12 =3500 at hindi ko maintindihan kung paano nakuha ang 3500

[@charlesdarwingomez8936]

same here

[@charlesdarwingomez8936]

ganito sya, hay buti nagcheck ako hehehe. nastress din ako sa solving nito 21000x.20 / 12 = 3500

[@Hasana129]

Hi po, Ask ko lang po if sa journal entry ba kapag end of the month yung transaction, hindi po yun e re-record sa journal? Tsaka sa adjusting entry ganun rin po ba na hindi e re-record pag end of the month naganap yung transaction?

[@FilipinoAccountingTutorial]

Hello Norhasana. Basta journal entry end month man yan or hindi, adjusting man yan, closing entry, or reversing entry, lahat ng entries nirerecord basically sa journal. Hope it helps 🙂

[@relietogrado1675]

ask ko lang po sir don sa letter e portion...bakit po may naka AP sa credit side?

[@angelabesamis9664]

yun po yung original entry po. Nag bayad po kasi ng cash na 15k for the acquisition of office equip and on credit po yung the rest which is 45k

[@jennyobdam9213]

Sir, may I know the reason kung bakit walang initial entry ang statement letter G. Confused lang po🙏

[@FilipinoAccountingTutorial]

Walang initial entry dahil naganap ang transaction at the end of month. Kunware, ako ung employee na tinutukoy sa letter G and ikaw ang accountant/business owner, yung work ko nung katapusan ng May is mababayan thru sweldo ng June. Therefore, sa month of June mairerecord ung salary expense dahil ang sweldo is June. But the expense must be recorded in the month of May dahil sa month of May ako nagwork. Hope it helps, jenny 🙂

[@ellroise8595]

paano naman po kung ilalagay na sa stament of comprehensive income ?

[@FilipinoAccountingTutorial]

Nasa susunod na mga videos ang sasagot sa question, ellroise 🫶

[@dericbryle402]

di ba gagawin pa ung adjusted T.B.? thanks!

[@FilipinoAccountingTutorial]

Hi Deric, may mga continuations pa ito.

[@suzaineapuli7706]

Yung number 3 po, what type of adjusting entry po siya?

[@FilipinoAccountingTutorial]

Deferrals, Suzaine 🙂

[@jacelorbaneja5197]

Sir paano namn po kapag for two months Yung entry paghihiwalayin po ba or pagsasamahin po tapos magkasama narin po ang adjusting entries? Salamat po sa tutugon.

[@FilipinoAccountingTutorial]

Pwede either jan, jacel. Pagsamahin or hiwalay.

[@jacelorbaneja5197]

@@FilipinoAccountingTutorial salamat po

[@arnelbalbs]

Bakit yung sa c. na supplies, accounts payable? hinde po ba cash? purchased po kasi nakalagay.

[@FilipinoAccountingTutorial]

Hello Arnel! Purchased on credit kaya accounts payable. Nasa step 2. Journal entries ang discussion.

[@ararbalbs04]

@@FilipinoAccountingTutorial purchased supplies lang kasi nakalagay pero thank you hehe

[@yes-np3rr]

Pano po pag investment? Pano po iyong adjusting entry non po? 😅

[@cheesecake4211]

pede po ba maging unearned revenue yung last part ng adjusting?

[@FilipinoAccountingTutorial]

no, cheese. Dahil hindi "unearned revenue" yung last part 🫶

[@cheesecake4211]

@@FilipinoAccountingTutorialay ang unearned nga po pala is bayad na pero di pa rendered ung service? tama po ba huhu

[@FilipinoAccountingTutorial]

Correct, cheese! 🙂 Kaya if we analyze yung last part ng adjusting entry. Hindi sya pasok sa "unearned revenue". 🫶

[@cheesecake4211]

@@FilipinoAccountingTutorial pero pede po sya “revenue” lang lalagay don? sorry po dami tanong

[@FilipinoAccountingTutorial]

Yes, pwede naman 🫶 However, dahil may chart of accounts na given, we will use yung appropriate account sa chart of accounts 🙂

[@ladyk8220]

Reversing entry naman.po

[@FilipinoAccountingTutorial]

Makakarating din tayo dyan.

[@hannajoybeaniza3473]

Hi po, I would like to ask kung paano po kung walang transaction na ganyan para sa adjusting entries ( worksheet)? Transaction para majournalize, maledger, at ma trial balance lang po ang meron. Pagdating po sa worksheet, wala pong ganyan na transaction para sa adjustment entry. What should we do po? I hope masagot po. Btw, thank you po sa mga video, malaki po ang tulong nito. Have a nice day!

[@FilipinoAccountingTutorial]

Magproceed na sa next step ng accounting cycle if that is the case, hanna. You can proceed to preparation of worksheet (optional step), or preparation of financial statements 🙂

[@hannajoybeaniza3473]

Thank you so much po! God bless po! 🥰

[@FilipinoAccountingTutorial]

You're welcome, hanna. Mag aral nang mabuti. God bless 🙂

[@kylenemagtibay2619]

Pano po malalaman kung asset method or expense method, liability method or income method ang gagamitin? 🥺 pahelp namn po. Naguguluhan na po ako

[@hanabihyuga9315]

Good day, sir! May tanong lang po ako🥺 about po sa letter i. Bat po di na need ang journal entry? Bat nag adjusting entry na po agad? may kinalaman po ba ang date ron? Sana po mapansin nyo. Ty in adv, sir!

[@FilipinoAccountingTutorial]

Hello Hanabi. Yes walang originating entry yan kasi hindi naman yan prepaid expense or unearned income. Yung mga ganyang type ng transaction na nagaganap ng remaining hours ng last day of accounting period ay sinasama na sa adjusting entries. Hope it helps.

[@hanabihyuga9315]

@@FilipinoAccountingTutorial sir, thank you poooooo🥺💓

[@summercamp.island6363]

Ano po yung ginagamit nyo po na book?

[@alexandriafaustino2827]

see in the description box

[@JK-ut6jn]

Pano po nakuha yung originating entry? Thanks po

[@FilipinoAccountingTutorial]

Hello Jamaica. Nasa step 2 galing ang originating entries.

[@katherinebungar910]

Hello po! hindi ko makuha yung tamang sagot pag sinolve ko yung problem H, yung 210k*20%*1/12 whahahaha

[@mjwayv4992]

Hello po, is it possible po for you to share the reference you are using? The printed form po na ginagamit niyo sa video😭 Thank you po. Have a good day and God bless po😊

[@FilipinoAccountingTutorial]

Hello mj. Sorry, hindi kami namimigay ng kahit anong files. We are just providing video tutorials dito sa youtube 🙂 We indicate yung textbook reference namin sa description ng video. We highly encourage mag-invest sa knowledge, that is, mag invest sa accounting textbooks ❤️ Hope this video will still help you. God bless 🙂

[@mjwayv4992]

@@FilipinoAccountingTutorial I see po. Maraming Salamat po, yes this video is such a very great help to me. I understood things that I didn't understand upon watching your tutorials

[@FilipinoAccountingTutorial]

Walang anuman, mj 🙂 We're happy it helps. Mag aral nang mabuti ❤️

[@jamg5749]

Bakit po ayaw gumana ng video ?

[@FilipinoAccountingTutorial]

why?

[@davegonzales7373]

Ikaw naman gumwa nung akin d ko naman magets

[@nesteaapple7191]

Binalikan ko na naman mga basics of accounting dahil sa auditing and assurance concepts and application. 😭 Ang dami ko nang nakalimutan😆.

[@FilipinoAccountingTutorial]

Hope this video lesson will help you, nestea. Mag aral nang mabuti 🙂

[@meionn]

Bakit ba ako nag ABM

[@FilipinoAccountingTutorial]

Go! panvin! Kaya mo yan! 🫶

[@yyoonseul]

mas maayos ka pa po mag turo sa prof q ಠ_ಠ

[@FilipinoAccountingTutorial]

Hope this video will help you, dawnn :)

[@jamg5749]

Bakit po ayaw gumana ng video ?