How does this video have 45K views and 298 likes? I can confidently say that this is the greatest resource on the internet. Thank you very much professor. These videos are incredible. I am grateful.
@serenequeensubliminals4 ай бұрын
WHY IS THIS VIDEO SO UNDERRATED, this was the only vid i could find on KZbin that explained this and not only that but the explanations are simple and understandable and literally what seemed so complicated became so easy thanks alot you are wonderful at teaching, hope you get more recognition, and have an amazing life❤
@leahk70579 жыл бұрын
Thank you, Sir! The best explanation!
@MyFinancialFocus2 жыл бұрын
Journal entries can get complicated. Glad we have debits and credits to make it easier :)
@francescociccone2224 Жыл бұрын
in reality, if I can say my opinion, the US version of "debit/credit" is a little bit weird, bcs they simply reverse the italian version that has an easier way to be understood, infact, in italy we have credit on the left and debit on the right. and if you think about the credit's J.E., the reason of being on the left is a way better bcs when y receive it, they are on the left, and when y receive it, they are on the right. I mean, on italy, the professors teaches to you that this is like "when you have a credit they are giving y an apple, and when you receive the credit, you are giving it back" (it's like the movement of the hands, but with the credits). I hope I have made myself understood.
@munisowenby21363 жыл бұрын
Very insightful and helpful explanation. Thank you!
@Edspira3 жыл бұрын
No problem!
@janellebarbour45659 жыл бұрын
Great video...but could you also do an example when the there is the cost of production that excludes the depletion rate?
@sebastiansotelo81662 жыл бұрын
You're the best! Thank you so much for all your videos :)
@evanzack21425 ай бұрын
thank you
@user-sm1fh1iy4p7 ай бұрын
Thank you sir
@HafezAcademy9 жыл бұрын
that's really amazing explanation
@arahopalec68928 жыл бұрын
It really helps ! Thank you !
@AMA9499 жыл бұрын
The best!
@layben19578 жыл бұрын
Thank you! Great job!
@telete64563 жыл бұрын
Thank you so much😍
@jokousita3 жыл бұрын
Thanks sir!
@malikubaid19134 жыл бұрын
please share deprecation rate on personal fixed assects
@meera2038 Жыл бұрын
Instead of debiting Inventory, can we debit depletion expense?
@Jason-zr6om Жыл бұрын
So the depletion rate never changes???
@sebsibetasfye50092 жыл бұрын
Mingi of in amarc
@shamaribenton9 жыл бұрын
Hey, Thanks for the video but I'm not sure why inventory would increase to 100,000. If the mining company extracted 50,000 tons of ore shouldn't the value of that be the inventory? I don't understand why you are multiplying the cost per depletion (2$ per ton) by the 50,000 of ore to come up with inventory value. That doesn't make sense.
@Edspira9 жыл бұрын
Shamari Benton What we need to do is allocate the cost of the natural resource to accounting periods. The fair value of the ore doesn't come into play until we recognize revenue. The revenue (derived from fair value) minus the cost (derived from depletion) will tell us how much profit the mining company made.
@andybotchwey46205 жыл бұрын
The value is based on the the depletion base. The 50,000 produced is just the quantity not value. The $2 is the predetermined valuation of the all the ounces available.