The Accounting Equation and Analyzing Business Transactions

Please visit our website for blank sheets and other practice problems!
tlctutoringcom...
---
Learn about the basic accounting equation and how it can be used to analyze business transactions!
If you are struggling with categorizing accounts into their individual account types/elements, please view this previous video: • Elements/Account Types...
You are encouraged to leave your questions and comments below. Happy studying!

[@beckyr8401]

I'm really struggling in my ACC 120 class and this helped so much!

[@heatherfaust1336]

Loved this tutoring..!!! Super helpful

[@farazzzz669]

Excellent tutorial. Helped me a lot keep going

[@leandronorcio9642]

Hey. May I'm a beginner and I'm really learning a lot from you. May I ask what accounting standards are these? Btw, I really like your voice.

[@accountinghelp]

Hello Onsong, we are happy to help! These principles are based on US GAAP.

[@SumanMalikLata]

You are amazing! saved me.

[@paruchuru6804]

Good lectures but template background colors need to be check

[@Mustlight]

Thank you a lot. It helped me so much.

[@thaolynguyen2833]

One question, please. If the company bought office furniture for $1,000 in cash ... does it means the asset (cash) and the owner's equity (expense) will be affected?

[@accountinghelp]

Not quite. Assets (cash) go down and assets (office equipment) go up. The net effect is no effect.

[@AhsanHaji]

Thank you!!

[@alphasuperior100]

I am in accounting & it's hard to understand any suggestions so that I can understand accounting ?

[@jendean6869]

Great teaching video

[@epicmoments1589]

Philippines here. Thanks 😊

[@accountinghelp]

Salamat!

[@snehadanapala5846]

hello, I have a question, when we record these transactions, like is it a must to state the account type? [i'm not quite good at identifying the account type]

[@accountinghelp]

Being able to identify the account type helps you figure out if you need to debit or credit. It a bad habit of introductory students is to just memorize certain transactions. But from experience I can tell you that this does not work in the long run. It's better if you if you learn how to identify the account types now rather than later.

[@snehadanapala5846]

@TLC Tutoring thank u so much for this information. i'll memorize them...

[@12ania]

I LOVE YOU