Journal Entries: The Basics and Analyzing Business Transactions

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Learn about three important rules that will apply to every journal entry. We continue this series by analyzing the same transactions that we analyzed in the prior lessons.
These transactions were also analyzed in the following videos:
The Accounting Equation and Analyzing Business Transactions - • The Accounting Equatio... .
T-Accounts: Analyzing Business Transactions & Debits and Credits - • T-Accounts: Analyzing ...

[@stephanieleavitt7592]

So incredibly helpful to demystify accounting for folks without a formal background in it. THANK YOU!!

[@dragonofspades2837]

This accounting class has been giving me so many problems, but just 4 minutes into this video and I'm already feeling more confident about filling out this journal, thank you :')

[@accountinghelp]

So happy to help. Feel free to visit tlctutoringcompany.com for one-on-one tutoring if you need more help!

[@lcopeland3835]

Your video's are outstanding. I love the organized feel and the clear examples. You make it seem so simple. Thank you for being here for us.

[@dh1713]

Simple, clear and easy. Thank you

[@shaikhahalrajeh3726]

You are perfect ,simple & clear way to teach it thanks

[@MYTHOMINHTRAN]

The teacher explained in very much details whereby any student who want to study accounting will be success and pass the test! Notice that in the third entry, she did a little odd in making the credit (cash) first instead of the debit (Rent expense), but one can guess that was her intentional to make student following her step-by-step. Correct me if I am wrong.

[@angelicanumes1339]

Thank you this is a great recap for my exam

[@alegriajasherdaned.4083]

Thank you!!!! Helped a lot, great explanation and thanks for the friendly tutoring!

[@freshtabashardost8314]

Thank you very much for the clear explanation, it is very helpful more than taking a class. Do you mind if you please put a link for us to download all these statements and practice as we watch the video?

[@tumisomakgahlela4919]

wow wow I just screenshot your formula wow thank you so much for this video

[@MichelleCosmo-x1d]

the template you've created are great, do you have them available so that I can use them or a tutorial on how to create them. For some reason, we're learning this all on PAPER and the excel class doesn't come until later.

[@accountinghelp]

This video is part of one of my older collections, but everything recent has a spreadsheet follow along. All the new videos and spreadsheets are on www.tlctutoringcompany.com

[@magicpower1858]

Good Teacher !

[@HAmzakhan2]

Thank you for this informational video!

[@profmoriati5528]

Very clear and make it very simple. I would like if possible , the journal entry for Aministrative sartup expenses. Thanks very much!

[@accountinghelp]

For administrative start up expenses, it depends on the scenario. If you are referring to general expenses to start up a business, such as legal fees, state registration costs, etc., you would likely be debiting an appropriate expense, such as legal expenses and registration/license expenses, and crediting cash. It all depends on what the specific transaction entails! :)

[@profmoriati5528]

@@accountinghelp Yeah, thank you...they are exactly the kind of expenses am talking about. Just got confused as I thought could be considered a capital expenditure as it gets the business start. Thank you very much!

[@nzjen]

How about if it's "sales for month of march, 150,000" is it the same with January 31??? I need answer asap pls thankyouu

[@accountinghelp]

Hello, it really depends if these are cash sales (debit cash, credit sales) or sales on account (debit accounts receivable, credit sales).

[@katumbasirajemuhammad8657]

Like it for sur make more video accounting helped me i was struggling

[@stickymonki1]

Thank you so much this is so helpful!

[@andyc2730]

thank you for very good instructions. Is there a way to print out some of the slides? It would be very helpful.

[@accountinghelp]

Hello Andy, we are in the process of creating follow along sheets for the videos. If you go to www.TLCTutoringCompany.com, you will see that some of them are already available. We will be working on coming out with some more during the next few months. :) Thank you for watching!

[@isabellawilliams52]

you are AMAZING!

[@randiahmed860]

Really nice job

[@nzjen]

Does fees earned means sale??

[@rubyjane6157]

can you do a accounting cycle of a merchandising business (perpetual and periodic inventory system)

[@jannkaitlynchen4913]

May I ask a question In the example no.1 what is the explanation of the transaction?

[@accountinghelp]

Yes! :-) when you start a business, it is always recommended that you get a separate checking account for this business. so in the first transaction, the owner is taking money out of his personal banking account, and putting that money into an account that's going to be used for the business. This means that the businesses cash balance is increasing, and the owner's investments within his business are increasing. :-)

[@dericklee9608]

Thank you for the help but I hate it when I try to concentrate and the advertisement jumps in.

[@SM-br7br]

How come on 1/21 you journaled it as just "accounts payable" instead of "A/P Office Supplies Co." ?

[@accountinghelp]

A/p stands for accounts payable. If you want to add a company name, you can, but generally in academics, we don't have to.

[@mebrahtuberakiteweldebrhan7461]

Super. Thank you very much that you

[@hectormercedes6553]

HELLO TEACHER, MY NAME IS HECTOR MDES. DE LOS SANTOS FELIZ, IM FROM DOMINICAN REPUBLIC. IM BEGINING ACCOUNTING. HOW CAN I GET THAT SOFTWARE YOU USE TO MAKE THAT HOMEWORK?

[@accountinghelp]

I just use Excel.

[@hectormercedes6553]

ARE YOU USING CHEAT SHEET THE MAKE THE HOMEWORK?

[@kainaatmakhani6550]

good job

[@srinivasaraovalluru4429]

Could please share your website name