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Index
00:29 Start of the video
00:45 What is the value of your business?
02:15 Standard accounts of equity
03:10 Creating new chart of accounts and subaccounts
06:40 Importance of consistency
08:30 Creating an invoice
08:50 Running and analyzing a profit and loss report
09:12 Running and analyzing the balance sheet
14:49 Crossing over to next year, analyze balance sheet on the new retained earnings
10:57 Demonstrating journal entry on retained earning and distributing to owners capital accounts
12:07 Showing 10:57 on the balance sheet with 0 retained earnings
12:30 Can you also take a distribution from retained earnings?
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