Accounting For Beginners #18 / What is a Draw? / Withdraw / Distribution / Dividend / Equity

What is a Draw? It is short for Withdrawl. • Accounting for Beginne... BEST ACCOUNTING PLAYLIST ON KZbin !!!!!!!! Accounting For Beginners #18 / What is a Draw? / Withdraw / Distribution / Dividend / Equity. Is is also synonym of Distributions and Dividends. A Draw Reduces Owners Equity. The easiest way to keeps debits and credits, and Assets = Liabilities + Equity ( Accounting Equation) straight. This is how i passed the CPA Exam to become a licensed CPA in the State of Florida. You can use the information in the video on your first day of Accounting class all the way tho being a CPA. Debits, Credits, Assets, Draw, Expenses, Liabilities, Equity, Revenue. This video has a very basic example and can be used in the most advanced situations. Learn Debits and Credits and the basic accounting equation which is assets = liabilities + equity. This will also help with the income statement which is Revenues - Expenses. I hope you enjoy the video. In this video i go over journal entries. Get your tips here in this accounting for beginners video. There is also information on the balance sheet here in this video. I also go over Accounts Receivable, Accounts Payable, Depreciation, Accumulated Depreciation, Putting Assets on the books, Fifo and Lifo Inventory Valuation, and so much more in this series for beginners.
Accounting For Beginners #1 • Accounting for Beginne... Debits and Credits / Assets = Liabilities + Equity
Accounting For Beginners #2 • Accounting For Beginne... Basics / Accounting Equation
Accounting For Beginners #3 • Accounting for Beginne... Journal Entries / Beginner Tips
Accounting For Beginners #4 • Accounting for Beginne... Income Statement / Revenue - Expenses
Accounting For Beginners #5 • Accounting for Beginn... The Balance Sheet / Basic Tutorial
Accounting For Beginners #6 • Accounting for beginne... Putting an Asset on the Balance Sheet
Accounting For Beginners #7 • Accounting for beginne... Depreciating an Asset / Basics
Accounting For Beginners #8 • Accounting for beginne... Depreciation Expense / Basics
Accounting For Beginners #9 • Accounting for beginne... Accounts Receivable / Basics
Accounting For Beginners #10 • Accounting for Beginne... Accounts Payable / Basics
Accounting For Beginners #11 • Accounting For Beginne... Fifo and Lifo Inventory / Basics
Accounting For Beginners #12 • Accounting For Beginne... 1 Journal Entry With 2 Assets / Basics
Accounting For Beginners #13 • Accounting for Beginne... Accounting Study Guide / Template
Accounting For Beginners #14 • Accounting for Beginne... Journal Entry with Cash / Expense
Accounting For Beginners #15 • Accounting For Beginne... Journal Entry With Cash / Revenue
Accounting For Beginners #16 • Accounting For Beginne... Debits & Credits / Negative Asset
Accounting For Beginners #17 • Accounting For Beginne... T-Accounts / Debits and Credits / Accounting 101
Accounting For Beginners #18 • Accounting For Beginne... What is a Draw? / Withdraw / Distribution / Dividend / Equity
Accounting for Beginners #19 • Accounting for Beginne... Don't Abbreviate / Accounting 101 / Basics
Accounting For Beginners #20 • Accounting For Beginne... Chart of Accounts / Assets, Liabilities, Equity, Revenues, Expenses
Accounting For Beginners #21 • Accounting For Beginne... T Account Example / Accounting Tutorial
Accounting For Beginners #22 • Accounting For Beginne... Trial Balance Unadjusted / Accounting Basics
Accounting For Beginners #23 • Accounting For Beginne... Cash in a Bank Account / Checking Account / Basic Accounting
Accounting For Beginners #24 • Accounting For Beginne... Does The Transaction Increase Assets / Accounting Basics
Accounting for Beginners #25 • Accounting for Beginne... Accounts Receivable Example / Accounting 101 / Accounting Basics
Accounting For Beginners #26 • Accounting For Beginne... Reducing Accounts Receivable / We got Paid / Accounting basics
#Accounting #Exercise #CPA

[@dredredreization]

You have taught me more in 2 mins of video than my professor has taught me in 9 hours of class time.

[@CPAStrengthPassion]

haha, i can tell you if you practice with DC ADE LER you will do great in your class

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Seriously same thing. I'm in week five of accounting, which is basically fifteen hours, and i have learned more in one hour watching these videos.

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i know it is kinda off topic but does anyone know of a good website to stream newly released tv shows online ?

[@davidong3849]

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[@CPAStrengthPassion]

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Awesome

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[@Silmeria0724]

Your D/C ADE LER study tip helped me so much with remembering my debits and credits. Thank you so much. Keep up the strength. 😊💪

[@CPAStrengthPassion]

Your Welcome. DC ADE LER helped me so much as well. I had to share it. I'll Keep trying to get Stronger !!

[@momish9549]

watching all your beginner videos in one night. thanks for keeping it comical so I can stay awake at 3am. anyway, just wanted to let you know my professor suggested your videos. 👍

[@CPAStrengthPassion]

+Carly Braunstein I try to make it educational and comical. That's cool your professor suggested me

[@carolynniemann6934]

Thank you for the information. After watching your videos #1 and #2, I jumped to this one, #18, to make sense of the 'Draw' category shown but not discussed on those previous vids. I also liked that you go over the various types of withdrawal examples in this vid. Your teaching style just clicks in my brain. 🧠 I appreciate you. 😎🤟

[@chanelperillat-piratoine7644]

Thank goodness I found you on KZbin, no other explanations were helping me

[@CPAStrengthPassion]

Cool, i am glad you found me and you understand my explanation.

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why do you have to use the f*** word all the time. its so disturbing.

[@laserlightshow5]

The big thing is a draw is not a business expense. It reduces equity but it’s not deductible. For schedule Cs a draw is fine as long as you don’t try to expense it. For S corps handle like as a distribution. C corps as a dividend. It’s an important account

[@CPAStrengthPassion]

This Is a great breakdown!!

[@daleweymark9476]

Man your a legend I don’t study accounting at uni but want to learn the basics hi from Australia! I like your layed back relaxed style of teaching your a top bloke

[@CPAStrengthPassion]

I appreciate that. I love the reach of this platform. People from all over the world watch me. Haha 😂 a bloke. That's funny

[@Jrswazy585]

I’m taking accounting this semester I understand thanks to the 400 page book and teachers video … but this also helps to thanks ! 🙏🏽

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I am currently taking a college accounting course, but have recently been struggling. Your videos have been helping me so much! Thank you!!!

[@CPAStrengthPassion]

Your welcome. I’m so glad my videos can help

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You right, I have a associate in science degree in accounting , and I still have a problem, but now I'm happy find those videos

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[@CPAStrengthPassion]

Great. Thanks for letting me know it’s a blessing to be so helpful.

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dude you're like a CPA VERSION OF KZbinR 'FITNESS ADDICT'... HELLA FUNNY. LOVE YOUR VIDEOS. KEEP IT UP MAN!

[@CPAStrengthPassion]

Some people don't like my "Humor", for the people like you that do. I'll keep being me

[@hfortenberry]

No way, it was not too long!! This is probably my favorite video so far! I like them a little longer like this one. If they are too short then you just get started getting into it and have to quit already, just as you are getting into it. Excellent topic as well here. Thanks!

[@tiltbackjack]

I just finished my first semester of college after going back many years after high school. While I vaguely understood my first ACCT class, your videos helped me and some fellow students a ton. Got an A- this past semester and taking managerial accounting next semester to finish up my accounting classes. THANK YOU!

[@CPAStrengthPassion]

Your so welcome, i appreciate your comment so much. I make all these Accounting videos to help learn the basics. and now i want to make better videos and help more people. Your gonna crush Managerial as well !!!

[@tomsmith125]

Appreciate the good video about draw, owner’s equity and balance sheet. Nice work.

[@chuckles1204]

These videos helped me through Accounting... 💯

[@CPAStrengthPassion]

That's awesome. Thanks for letting me know. Glad my videos could be useful

[@milezeroisland]

It doesn't matter how long it was. This video explained everything perfectly. It's better that the withdrawal subject is in this one video instead of broken up into two.

[@CPAStrengthPassion]

Thank You. I learned that you cannot please everyone

[@KatWolk]

Thank you for making these videos! You've helped me tremendously with my Principles of Accounting class. 🙌 I appreciate you so much!

[@CPAStrengthPassion]

You are so welcome, glad my videos can help out out.

[@nickb.829]

That ending was 🔥

[@CPAStrengthPassion]

Hey I try

[@douglasa.christopher4345]

Great explanation of the draw - drawing, distribution, dividend. DC ADE LER is awesome.

[@CPAStrengthPassion]

It’s a really good foundation

[@constanceknaub5245]

Thank God! Finally someone who can explain accounting in a way I can understand. The T Accounts are still a little fuzzy for me. However, you shed some light on it. Say it like it is!! Great work! Keep it up!!

[@CPAStrengthPassion]

+Constance Knaub you are very welcome I'm glad you enjoy my teaching style.

[@baharjamshidi2979]

Very good accounting explanation. Thank you

[@CPAStrengthPassion]

Glad you enjoyed the video

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[@CPAStrengthPassion]

Thank you my friend

[@MrHall53]

Getting Jacked Son!!!

[@CPAStrengthPassion]

I'm working on it.

[@linalien1390]

I just found your videos and like the rest here I would like to thank you for your precious help! Up until now I felt hopeless and desperate cause I didn't understand sh*t but your videos make learning accounting basics so amusing and easy! Also, that "DERP!" really got me!!!!

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[@CPAStrengthPassion]

Thank you very much

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Hey man, I really appreciate you taking the time to make so many videos. I am taking accounting as part of my marketing degree, and it's an accelerated class, only 5 1/2 weeks! I have watched many of your videos, you are rough around the edges, but you explain things well. I can appreciate that! Thanks so much!!

[@CPAStrengthPassion]

+Addam Ohara your welcome, I really enjoy making videos. Yeah I know I'm a little rough, but I am who I am.

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Thank you for your vids. I'm watching all of them for my basic financial accounting test at my college in Sweden.

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[@CPAStrengthPassion]

+NemesisXt awesome. Glad you are enjoying

[@maryjanethielke7788]

your formula makes it easier for me to recall the normal balances of each account. like the normal balance of Asset, Drawings and Expense or ADE is Dr any changes you Cr it. and normal balance of Liability, Equity and Revenue or LER is Cr any changes you Dr it. I like your technique.

[@CPAStrengthPassion]

thank You

[@deeme6095]

Thanks for helping me brush up on my accounting skills!

[@CPAStrengthPassion]

You are welcome. Glad I could help

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You explain yourself very well, in a short amount of time. Unlike class where the professor says here and for two hours you're like WtH Kindve like sink or swim. Not me ADELER throw me a life jacket..

[@CPAStrengthPassion]

Thank You, the DC ADE LER life jacket, lolz

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I like the excitement in the beginning of the video. You keep me going during my journey through accounting.

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What is the name of the book you referenced? You need to write your own book one day. I bet it would be a good seller.

[@CPAStrengthPassion]

www.amazon.com/gp/product/1133607608/ref=oh_aui_detailpage_o06_s00?ie=UTF8&psc=1 This is the book i referenced. i bought it used for $10 Amazon. Maybe i will write my own book someday.

[@CPAStrengthPassion]

Well thank you, i try to keep it exciting and add some stupid jokes, because accounting can be so dry.

[@hfortenberry]

I thought your joke about the book in the previous video was hilarious, about accounting principles having been around for so long that a book being 5 or 10 years old is no biggee. That struck me as very funny and I laughed out loud. :-)

[@CPAStrengthPassion]

+Aubrey thanks, I thought that was a funny joke too

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Good night John.

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Fucking underrated as fuck. you've literally taught me the whole syllabus in 2 days :). Thank you good sir.

[@CPAStrengthPassion]

This is one of my favorite comments i ever got !!!

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3:34 - you are the best person

[@CPAStrengthPassion]

Thank you

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Binge watching today while at work! I'm struggling and have exams in two weeks.

[@CPAStrengthPassion]

You will get it. Things will click. Keep practicing with DC ADE LER, you got this.

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CPA Strength 😊😊😊 omg!!! I’m so excited! I have a long way to go still, but you help me every day! I was so frustrated last night working on double declining balance blah blah blah and my husband put your video on the big screen tv and I was able to understand it perfectly! You really are the best!

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I feel it!! THE CPA STRENGTH! Great video mate! cheers! I eat DC ADE LER for Breakfast btw

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Thank u sir ...it helps me a lot.

[@CPAStrengthPassion]

You are welcome, i am glad to be helping out.

[@karinaorozco6693]

Thank you !!! God bless you for helping all of us in school for accounting your a blessing and make it fun tot learn !! :)

[@CPAStrengthPassion]

Thank you so much for your comment. A nice comment always makes me feel good. I have been feeling really blessed lately.

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LOL if A.D.D was a person. JK, your videos have helped me a lot, thanks!

[@CPAStrengthPassion]

haha, wait what lolz

[@a1parra]

CPA strength thanks for breaking down lesson 18 man. The whole draw thing is so vague.

[@CPAStrengthPassion]

YOUR WELCOME

[@allendavedeguzman9778]

Is it just me or somebody is also from the Philippines here? Mabuhay!!! 1:52am time check!!!

[@CPAStrengthPassion]

I have lots of viewers from Philippines

[@allendavedeguzman9778]

@@CPAStrengthPassion wow!!!

[@elsalloren7092]

I am a Filipina based in Australia and will be taking online Accounting course. Salute to all your videos. I feel confident now to start it as your video is helping me. Btw, am 60 already but I just want to learn more so I will not get forgetful...lol. More power to you @CPA Strength.

[@malabananfrancesca3190]

Well hiii! I'm a Filipinoooo and I am an Incoming Freshman Student! I guess you're a Filipino too?

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Thank you for the vids your are saving the world rite here

[@CPAStrengthPassion]

I feel really good when someone tells me I am helping them. Best of luck to you in your studies

[@kadenyandell9235]

Would the equation for the balance sheet effectively be: A = L + (E - D)?

[@CPAStrengthPassion]

Yes. You are catching on.

[@kadenyandell9235]

@@CPAStrengthPassion Thanks! That makes a lot more sense to me now

[@marionysaguirre9480]

Great learning and brush up

[@katygardner2741]

Thank you so much for these videos! I do have a very basic question though. Is a Directors expense, ie travel reimbursed, a draw or expenditure? Thanks again 😊

[@monamai8660]

It just clicked when you mentioned about how the drawing account effects the owner equity account!

[@CPAStrengthPassion]

Awesome

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Amazing !! Life saver !!

[@CPAStrengthPassion]

Another saved, amazing

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I love you and your channel!!

[@CPAStrengthPassion]

+Djinn Smoke thank you, it feels good to be loved.

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CPA Strength it should!! I'm studying your channel to improve my job performance. I'm glad you're here, sir.

[@CPAStrengthPassion]

+Djinn Smoke I'm glad you like my videos

[@jaylanfordachilles92]

WOW! VERY STRENGTHS!

[@CPAStrengthPassion]

THANK YOU

[@mona-ju8jl]

Hi, you're amazing, your DC ADE LER. really helped me to memorize the debit and credit sides. Thank you so much. And one thing which book do you use ? May I know the name ?

[@MARIEJOSE-iy1kz]

what's an equity?? please can u explain it? thanks

[@raccoon874]

*getting a lot of "children-locked-in-basement" vibes*

[@CPAStrengthPassion]

Oh no they are on to me now

[@jaylanfordachilles92]

How can i say thank you for your big effort for us specially with me Your almost good for me T_T ! ! ! THANK YOU VERY MUCH Mr. REVENUE!

[@shaukhanbeastwamutale1181]

Can you spend your Net Income as a Drawer to avoid paying more in income tax

[@syedquadri5820]

Great video, very informative

[@CPAStrengthPassion]

Thank you very much, glad you liked it.

[@nicolasbonacci8828]

Great video!! Your videos are helping me a lot with my account course in college! Can you do videos on adjusting journal entries!?

[@CPAStrengthPassion]

Glad my videos are helping. I can for sure do a video on Adjusting Journal Entries. Thanks for asking.

[@ahmadsb4358]

hey man thnx for all that strength 💪 tips, I was wondering if you can do a video about some strength point of accounting about salaries and nssf entries? thanks again

[@Jansher01]

Would you please tell me the name of that book shown in your video??

[@michellemalone1279]

Hi do you have a video on cost of sales please

[@CPAStrengthPassion]

I don't believe i currently have a video on cost of sales, sorry

[@WellsFargo2010]

Thank you for these videos. I am trying to acquire enough skill to tutor in accounting. These are the most succinct way of communicating those ideas. I bounce them off my wife, who is a CPA, and she approves. Do you have recommendations for an accounting workbook?

[@CPAStrengthPassion]

Thats cool, that your acquiring tutor skills for Accounting. And that another CPA approves of the concepts is always nice to hear. Although my DC ADE LER is just the basics, so there is really not much to debate about. No i don't have a workbook, but i wish i did

[@josh55611]

Im in 202. that DC ade ler trick is the only way I remember my dr, cr. I wish you had a video up for statement of cash flows. But im taking my exam in 10 mins so wish me luck lol.

[@CPAStrengthPassion]

Good Luck my friend !!!! I don't think i understand "Statement of cash flows" enough to make a video on it. It is a weakness of mine. Tell me how your exam was, and if using DC ADE LER helped you out.

[@cwoman2woman]

What about stocks and cash dividends? How would would we apply that to D ADE C LER

[@sardoreshmuminov4026]

Hello. DC ADE LER is great Sir, thank you. And I have a question, are Draw and Share Capital Ordinary same things?

[@priyankadogra1703]

Nice.

[@CPAStrengthPassion]

+Priyanka Dogra NOICE

[@kayceejane1740]

Hi, I love your videos. Are withdrawals, distributions and dividends basically the same, just different names for different types of entities. Are shareholders same as owners?

[@prettyparadoxicalwoman8285]

you remind me of my kid's dad ...but like......with a brain LOL thank you for your vids I am working on the T accounts and trying to go through this list of transactions a.) through i.) in my college book that is just not making any sense. This is helping because the teacher pulled a T account that had a draw account and there is NOTHING anywhere that i can find in my book about it smh

[@CPAStrengthPassion]

your funny, thats a compliment, right?

[@prettyparadoxicalwoman8285]

@@CPAStrengthPassion yes it is a compliment LOL

[@prettyparadoxicalwoman8285]

@@CPAStrengthPassion do you tutor?

[@CPAStrengthPassion]

No Tudoring currently. No time - ugh.

[@Andrew-ou8yt]

thanks. I guess that draw is withdraw

[@CPAStrengthPassion]

Yes withDRAW

[@thomascaggiano2450]

At 3:40, thats where the game was changed.

[@royaraffa9575]

Hello, where do we add DRAW, in the balance sheet or income statement, or non of them, because income statement has R and E, while balance sheet A=L+E so what about draw? thank you

[@CPAStrengthPassion]

Draw would be on the equity side of things. Negative equity

[@royaraffa9575]

Thank you :)

[@CPAStrengthPassion]

You're welcome

[@carlact.193]

I'm struggling with General Ledger. Cash book, purchase, purchases returned day book. it is confusing. help me pls. thanks u r very helpful.

[@CPAStrengthPassion]

+Carla Cardenden Tatgjpia I will do my best to help

[@proudamerican76]

So if Equity is affected by a draw wouldn't the total number of assets be affected as well? And also is Liability always a bad thing?

[@Jr-fj7rb]

3:34. We stan a Jacked Legend

[@amanvyas3332]

can you make a video for net income 🙏🙏🙏🙏

[@CPAStrengthPassion]

That’s a great idea 💡 thank you. Have a blessed day

[@amanvyas3332]

@@CPAStrengthPassion Thank you sir I loved your videos I’m currently a accounting student so your video help’s me a lot❤️❤️🙏🙏

[@tubeprincessamirahtv7993]

so when you take funds from your draw; is it the same as taking from your bank?

[@CPAStrengthPassion]

yes

[@rahulpaleja]

So if the owner withdraws money from the company account, wouldn't assets also decrease?

[@CPAStrengthPassion]

Yes

[@EFinch]

@@CPAStrengthPassionhow do you go about the journal entry on that one

[@joecop9887]

Forgive me, I am new to this accounting stuff. Is a draw simply a part of the retained earnings and which ultimately affects the balance sheet?

[@CPAStrengthPassion]

Please watch accounting for beginners #18 where I go over this

[@joecop9887]

Thank you

[@jeeed6390]

Yo, do one about cash flows.

[@maryjanethielke7788]

your C/D ADE LER are indeed useful my 2 kids are taking up accounting and you inspire them pls you don't need to use the f___ing word you look more gorgeous w/out it.

[@CPAStrengthPassion]

I agree with you

[@uhohsweettime5334]

Hi how about Accumulated Depreciation? Im kinda confused about it. also can you make a video about contra asset, liability revenue? Thank you.

[@CPAStrengthPassion]

I will make a video on Accumulated Depreciation & Contra Asset in the future, thanks for leaving comment with what you would like to watch.

[@seanaaron176]

Sir, How are you going to balance ALE if there is withdraw?

[@malabananfrancesca3190]

from what I understand in this and previous lessons. You subtract the withdraw or draw account to the equity, and it's going to be balanced.

[@wisitchan]

thank you for another great video. I have one question though, What is C-oorp and S-orp? thank you

[@CPAStrengthPassion]

There are lots of differences between the 2 : C-Corp = bigger Corporation, no limit to number of shareholders, Pays it's own taxes as a Corporation, dividends S-Corp = "S"maller Corporation, only 100 shareholders, is a pass through Entity, shareholders pay taxes, shareholder distributions Those are a couple differences off the top of my head.

[@malabananfrancesca3190]

@@CPAStrengthPassion hiiii. Just wanna know what you mean by "shareholders pay" in the S-Corp?

[@miamidolphinsfan]

Where in Florida ? I'm in Miami !!!

[@CPAStrengthPassion]

I'm in Fort Lauderdale !!

[@miamidolphinsfan]

CPA Strength awesome, maybe a future collab ! ? :) Keep being awesome !

[@CPAStrengthPassion]

Future Collab, hey you never know. I don't like to rule anything out. I will try to continue to be awesome

[@yowter8265]

Please give credit to the book coz I am concerned your video might removed because of plagiarism. BTW good videos I am following you since I became an Accountancy student.

[@CPAStrengthPassion]

Good point. Glad you are enjoying the videos

[@chaunmials]

This helps soo much and you are so funny you make learning this fun....just watched the one where you said you only see haters in your reaview mirror. 🤣😂😂😂

[@alinacastaneda4602]

any on prepaid rent?

[@zubairansari9773]

On of the best video of urz ,as well we can see ur lovly muscles hahaha,

[@CPAStrengthPassion]

Oh thank you

[@hw6892]

💪🏻💪🏻

[@CPAStrengthPassion]

Team strong 💪🏼

[@linandy1]

Draw is same as Dividends ?

[@CPAStrengthPassion]

Both reduce equity. Draw for sole proprietor. Dividends for C corp

[@michaelmichael5238]

Peter alexander. English of. Course.

[@alaamunther2559]

Minute 3:33 LOL

[@mariak3084]

I'm planning to get a career in accounting, should I go for ACCA or CPA?

[@CPAStrengthPassion]

I'm probably pretty biased since i wanted to be a CPA. There are so many factors in making a career choice, i'd say whatever you think makes you happiest you should do.

[@2ooClean]

Random question but you said you smoke, do you find it common among accountants to smoke?

[@CPAStrengthPassion]

+Omar Ashraf it's pretty un common

[@adilmuhammad8613]

plz explain equity

[@CPAStrengthPassion]

I for sure will make a video on Equity

[@alexandervalladares2501]

Yo Yo Yo ...

[@CPAStrengthPassion]

Yo yo yo

[@joco7977]

When he said "Damn, I'm getting jacked" I had to pause the video 😂😂😂😂

[@CPAStrengthPassion]

Do you think I’m getting jacked Johnson ?

[@joco7977]

Yeah you are!

[@galitell007]

why not change the "D" to a "W" then.. (withdraw) DC AWE LER #justathought #sidenote

[@CPAStrengthPassion]

You could def change the "D" to a "W". Although i prefer keeping the "D" because it can refer to Distributions / Dividends / Draws. Thank you for making me think.

[@tinkhaing2003]

I like your lessons, but I am frustrated when you are cursing.

[@CPAStrengthPassion]

This was an earlier video. I do not curse in my videos anymore. Sorry for my poor language

[@harryjn.baptiste9824]

Too much swearing man

[@davidwood99]

terrible. 2 minutes in and no information yet.

[@CPAStrengthPassion]

Hey 👋 it me