PROPERLY Record Debits and Credits with Examples (EASIEST Method)

Get Access to My Course "Fundamentals of Financial Analysis" here 👉 www.xelplus.com/course/learn-...
In this video, we take a deep dive into the world of debits and credits, turning theory into practice! Ideal for anyone keen to understand the real-life application of accounting principles.
🔍 What's Inside:
▪️ T-Accounts & Journal Entries: We start with the basics of T-accounts and then progress to journal entries, making the process easy to understand.
▪️ Real-Life Examples: Follow along as we record transactions for Claudio’s Italian beach business, offering a practical perspective.
▪️ Detailed Steps: From analyzing which accounts are affected to determining whether they go up or down, each step is clearly explained.
▪️ Accounting Concepts Simplified: Complex concepts like "Cost of Goods Sold" (COGS) and different inventory valuation methods are broken down for ease of understanding.
▪️ Visual Illustrations: We use T-accounts to visualize transactions, helping you grasp the concepts more effectively.
Use our secret weapon ADEx LER (Accountants Don't Expect Low Earning Rates) to apply Debits and Credits to actual transactions of a business.
00:00 Debits and Credits Practice Problems and Solutions
01:22 How to write and record debits and credits?
02:09 Owner putting Equity in company
05:42 Buying Inventory with Cash
07:20 Recording Sales
10:03 Recording COGS
11:00 Is Expense a debit or credit?
12:02 Summary of Transactions
13:15 Income Statement
13:35 Balance Sheet
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#Accounting

[@LeilaGharani]

Get access to the complete "Fundamentals of Financial Analysis" course here 👉 www.xelplus.com/course/learn-financial-analysis/

[@ojayherbert]

This is best and simplest lecture i’ve ever seen on recording debits and credits. Thank you fo much

[@nitinrajeev5609]

This is one of those channels I'm so glad that I found!

Thank you so much, i have been struggling with these for so so long, i have also watched a ton of videos online but still can not understand anything until i find your video. It helps a lot and for the first time in my life i can understand how the transaction works. You're such a great teacher

[@LeilaGharani]

Great to hear!

[@asyaborkova4210]

I’m so impressed too! Thank you 🙏

[@xperea91]

I couldn’t agree more! I have been trying to understand this for far too long. I cannot thank you enough!!! 🙏🏼

[@abeazar]

As a practicing CPA and a person who attempts to teach accounting to small groups of Payroll Professionals in about a half an hour once a year, I plan to use your examples next time I teach. Thanks for a precise and concise accounting lesson. Abe Azar

[@LeilaGharani]

Thanks Abe. I hope the examples will be useful.

[@deepvyas3972]

Nice

[@mmbogo2873]

Thanks

[@MahmoodSuhail]

With every video I watch of yours, my credit of admiration towards you increases and that throws my equation out of balance because you're adding more and more equity to our knowledge! Thanks for the amazing job! Keep up the great work..

[@LeilaGharani]

Wow, thank you!

[@irynag1771]

Thank you so much! I'm impressed. Please, post more and more and more videos ;) about accounting and bookkeeping. I really like your manner of speaking and structure of the lessons!

[@LeilaGharani]

We'll definitely post more next year. Glad you like the videos.

[@robertadafallon660]

Thank you for connecting the dots so easily for me!!! Clear and concise presentation.

[@kevwu9931]

Amazing explanation Leila, you've just helped me understand a lot of accounting concepts that I'd struggled to understand my entire life :)

[@mariatlopezleguizamo6483]

Oh my God! You are fantastic! Thank you so much for sharing your knowledge in such an easy way for us old folks. Blessings

[@JTBooks]

One of the best explanations of COGS i've come across. This cleared it up so much. Thanks!

[@peternganga9371]

Thanks Leila. These are explanations that I missed in my introduction to accounting. Nice one there. Thanks.

[@LeilaGharani]

Glad you like it Peter.

[@munizahir7644]

Thank you Leila for the amazing explanation. I think now I can say that I can pass the accounting course confidently.

[@julietlawson780]

You are such a great teacher! Thank you so much for simplifying this!

[@duccius]

This playlist is pure gold

[@adiscomputerschool]

Very nice approach. I spent four years in university studying for this course. Now I have amazing knowledge in 15 minutes. thank you!

[@christinenoquera9796]

You're a great teacher finally I understand now I've been struggling on journal entry

[@lalamalelang5670]

Now u know on journal entry. Always remember double entry debit and credit are always equal.

[@rodrigoabatepaulo]

I’m an Brazilian accountant, it’s really easy to learn with your videos. You have to understand the basis very well to understand the advance accounting. It’s really nice your way to explain. Congrats.

[@LeilaGharani]

Glad you like it Rodrigo. And it's so true. Once you understand the basics everything else falls in place much easier later.

[@seymourtompkins]

Such a wonderfully clear and visually engaging presentation (such fine graphics). You have a great production crew !

[@LeilaGharani]

Thank you! We are doing our best :)

[@Angelica-pu3dq]

Oh my goodness...i think you are saving my life. I'm taking a college accounting course (working on acct degree) and I was SO confused!! I checked out to other people before you and I was still confused after watching several of their videos. This is really helping a lot and putting it into terms and a way that I can understand. I really appreciate that immensely. I was getting nervous I wasn't going to be able to grasp it. ❤🙌

[@LeilaGharani]

I'm so glad! Good luck with the course.

[@ItsOnlyShift]

This was genuinely absolutely brilliant

[@jandradaunoraite9725]

Leila you are absolutely amazing! Thank you.

[@bunnakornsomprasert6019]

Thank you Leila. These help me a lot to explain to beginner.

[@allengrant5874]

Thanks once again Leila. So clear and concise.

[@johngeldenhuys2158]

wow - I find myself going back and re-watching - I will understand this one day. thks Leila

[@LeilaGharani]

Took me a long time too John :)

[@shabbirkanchwala-abwaab6263]

Debit-Credit simplified New LG style Thnx Keep it up

[@LeilaGharani]

Thank you! More to come. Stay tuned :)

[@Geevs80]

Every time you lowered the brightness of the background I thought my battery was dying! Really appreciate the good explanation.

[@shawniejohnson130]

You saved me, I was lost but I understand so much better now! Thank you 😊

[@LeilaGharani]

Glad to help Shawnie :)

[@jaylauna4153]

Watched both videos, this one's great simplified version of understanding Debit and Credit Entry and how it is fed into the P&L and Balance Sheet. You are awesome!

[@LeilaGharani]

Glad it was helpful!

[@Inquire98]

"Thank GOD", and thank you very much for your sharing support and time 😉 You and your videos are REALLY good 👌

[@LeilaGharani]

Glad you like them!

[@savannanash1449]

ADEX LER is probably the most helpful thing I’ve ever seen! Thank you

[@LeilaGharani]

Our pleasure! I'm glad it's helpful for you.

[@kourosh234]

this is the best and easiest tutorial to understand on the web. Nice job. thanks

[@LeilaGharani]

Glad you think so!

[@chandanachar9108]

Hello Leila could you make two separate videos on how accounts payable and receivable works and your explanation is crystal clear I have never understood the concept in my bachelor's degree..thanks

[@vyshnavakumar2553]

One of the best way to learn accounting.. Hats off

[@LeilaGharani]

Glad you like it!

[@amilcarc.dasilva5665]

Thanks a lot Leila. You're doing great job. Great video tutorial and your explanation is fantastic.

[@LeilaGharani]

Thank you! Glad you like it.

[@gyambibialex849]

Very interesting . It helping me a lot. Accounting made easy for me

[@seidegavenski935]

Simple and wonderful. Thank you!

[@samuelsanchez7800]

Thank you so much, I finally understand.

[@LeilaGharani]

Glad it helped, Samuel!

[@mazenalsakkaf]

Wow..the best video in its own subject I have ever seen...cheers

[@LeilaGharani]

Thanks for the kind feedback!

[@akhilkumarraparthi8179]

Your just awesome teacher I have so much of respect on you after watching this vedio. Thanks a lot

[@Ash1741.]

Thank you very much. Haven’t done journal entries since I was at uni.

[@meghnasunil8212]

Your explanation is so on point 👌

[@deepanshukaushik5571]

Thanks! You made things easier.

[@popohammers9095]

Thank you so much!!! My questions were cleared because of your video.

[@hriditakhan5462]

you make soooo much sense, thank you so much! you're a superstar

[@chikaaudreyna3916]

Omg,thank you so much this is so incredible and detail

[@cosminciceu101]

Very good explication and easy to understand. Thank you.

[@tonydong13]

best channel in youtube! only starting to understand these after watching your video, thanks!

[@LeilaGharani]

Happy to hear that!

[@mattschoular8844]

Thanks Leila. The first 80% was explained well in detail. I hope you will expand upon the income stat and balance sheet portion on more detail in upcoming videos. Well done...

[@lalamalelang5670]

And also trial balance.

[@juniorcoder1267]

Thank you very much, i have managed to created an accounting system using your videos

[@karrieweb2004_JxEdEx]

Thank you for the clearly presented information. I will share this video with my classmates.

[@LeilaGharani]

Glad you like it Karen.

[@wizardmaster6639]

very good Leila - highly helpful - its basic math, but putting them into these swinging accounts is a learning process. .... But I have great news for you, since the time I have started watching your videos, I have become a majnoon - thanks for your help.

[@dorothysstitches7333]

Thank you so much for this video! It explains things so clearly and I understand much better thanks to it 😊

[@LeilaGharani]

Glad it was helpful!

[@rsadsultanov3071]

Thank you ,finally could comprehend a topic at least a little. I wish my professor would teach in the same way :(

[@MYTHOMINHTRAN]

The missing dots have been found and connected, and I have regained my confident to come back to school after 45 years on the pursue of living career! Appreciate your teaching! Apprezzo il tuo insegnamento, signora Leila.

[@factspoken9062]

best channel till date

[@happyfamilylifescreations]

Really nice and clear..thanks for your time and effort leila!

[@LeilaGharani]

You're welcome 😊

[@blackamericanlesbianprofes4357]

Thank you for posting. I have been suggested to a few other Accounting KZbin channels which yours is in the list, by another KZbin channel The Accounting Struggle. I will take a look at your videos.

[@salaheldin00]

Thank you so much for the most valuable information you have have clearly explained .

[@LeilaGharani]

You are very welcome

[@ismailismaili0071]

U are doing such a great job thank u so much Ms. Leila

[@LeilaGharani]

My pleasure Ismail. Hope it's helpful.

[@ellefrias5980]

Thank you so much😭 Im really getting a hard time understanding my course right now... But after watching ypur videos and discussion it is more easier and lighter for me😊😊😊😊

[@LeilaGharani]

Happy to help!

[@zqrsh7902]

Madam thanks for your most informative vedio. Eagerly waiting for your next vedio on automatically transfer (posting) General entries to ledgers.

[@nadeemmalik8031]

Brilliant, simple, easy to understand. Thank you so much Leila. You really are an amazingly beautiful person and a fantastic whizz with all your videos.

[@LeilaGharani]

Thank you so much!

[@NY-Dani]

What a great explanation. Thank you so much.

[@LeilaGharani]

You're very welcome!

[@ayananidheeshayananidheesh7274]

Thanks maam.i am in Kerala.l well understand your class.al the best.

[@luzvimindachangsi8806]

I still had a lot to learn thank you so much

[@ganapathibalasubrahmanyam4575]

Your pace of explanation is awesome. Must say the very BEST!!!

[@LeilaGharani]

Thanks a lot 😊

[@ganapathibalasubrahmanyam4575]

You got it. Delivery at right pace is very key for successful learning. This tutorial was spot on. Is there a email where I can discuss in more details about this with you?

[@RajputAjeetSinghVlogs]

Liked Ur Way Of Teaching 💥 Love From India 🇮🇳

[@mariostudio7]

"Accountants don't expect low earning rates" is so neat! 😁

[@LeilaGharani]

There are different variations out there but this one just made it stick for me :)

[@wayneedmondson1065]

Hi Leila.. thanks for the video.. very interesting and entertaining presentation. Thanks for expanding my knowledge base! Thumbs up!!

[@LeilaGharani]

Thank you Wayne!

[@eyoelgetachew6004]

great lesson ....................thank u leila

[@sandrahendricks1354]

Very helpful - thank you greatly!

[@marktolliver1133]

JUST EXCELLENT, NOTHING ELSE NEEDS TO BE SAID

[@felixojunekwu7753]

Beautiful. Thanks for this video

[@user-oz9ew7jn8k]

OOOH MY GOD!!!!!!!! you are the best!!!!

[@janegibson2123]

Thank God I found u before enrolling at least I can learn more here

[@qudratullahhabiby607]

it was so nice of you i love that your teaching so in easily way i really enjoy from your video

[@LeilaGharani]

Thank you! 😃

[@temidayoadebiyi7024]

Awesome as always. Thanks a lot Leila

[@LeilaGharani]

My pleasure. Glad you like it.

[@oliviamwebeiha6038]

Excellent video, made it seem so easy! Thanks

[@LeilaGharani]

Glad you liked it, Olivia!

[@lalamalelang5670]

This simple easy to understand will be my giuide from journal entry t-acct balance sheet income statement. Hope the example is complete when it write it down the transactions. Thanks

[@Learningvideos421]

Just because of you I am able to do it. Thanks a lot.

[@LeilaGharani]

Glad to hear that

[@ilkinmahmudlu3309]

It is a great educational video. Thank you very much. May Allah prize you for your efforts 🙏

[@rsr_s239]

5 PEOPLE have tried to explain this to me to no avail. Merci Mamnoon

[@CoolGirl-uf1ou]

thank you very mucchhh!!! this was an amazing explanaition!

[@LeilaGharani]

You're very welcome!

[@MindBodyStorm]

Illustrations like these are rare in the Accounting world, I mean SERIOUSLY 🧐‼️

[@ericjohnson4877]

@LeilaGharani ....so after this vid and your vid "Debits and Credits MADE EASY with ADEx LER", I've come to terms with the fact that for now I just have to accept which accounts are debit accts and which are credit accts, memorize it, and move on, but I'm not satisfied. I'm trying to wrap my head around what makes each particular account a debit or credit acct, and how that relates to the basic accounting equation, and I have a feeling I'm in for an epiphany....don't worry, I'll keep you updated 😄Your channel has been really helpful so far, btw. My background is technical electronics, my degree is computer science, but somehow I ended up keeping the books for my Mom's real estate brokerage! Agggghhhhhh!!!! I have to learn accounting and bookkeeping!!! Thanks for your hard work!

[@phoenixs6098]

YOU'RE AMAZING. MAY GOD BLESS YOU ABUNDANTLY! 😇🙏🏼

[@88pianissimo90]

Thanks for the video. This is helpful. I am technical person working in financial reporting and this kind of videos help me understand requirement and then translate that into technical stuff.

[@88pianissimo90]

Can you please make a video on inventory valuation methods like FIFO, LIFO etc.

[@adriannoguera0716]

Thank you Leila ❤

[@shawnsweetonmoras6856]

Thank you so much Leila

[@alihz5890]

great video, keep it up!!!!!

[@jamjam5158]

Excellent work thanks

[@johnnykeita7392]

You are talented keep it up. Thanks

[@youssefyoussef5096]

Thanks for sharing this valuable content.

[@LeilaGharani]

My pleasure!

[@zazaza5535]

The very best. Thank you.

[@alanlee823]

2nd time watching -- begins to click, another 5 stars , although i just realized within each transaction can also trigger the opposite actions within the t account regardless whether it is debit or credit account .

[@marylee2705]

holy such a life savor omg

[@alexamantel5330]

nice, nice, nice, excellent,perfect work

[@whitneymacdonald4396]

So, so helpful. Thank you.

[@LeilaGharani]

You're so welcome, Whitney!

[@lalamalelang5670]

Thanks for sharing im learn a lot. Basic accounting. Thanks. Il take down notes.

[@LeilaGharani]

Excellent!