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I cover how the following effect your financial statements: Paying off Debt, Hiring an Employee, Buying with Credit, the Accrual Method, the Cash Method. Balance Sheets and Income Statements Whee!
Financial Statements Explained Pt 2
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16 responses to “Financial Statements Explained Pt 2”
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hi, thanks for the video, it s great for beginners; i v question, in 2:35; when we paid the second half of the booth rent, we decrease our cash by a total of $120, so in the total Asset column and the Liability it should be
$240 =(Prev. Cash)$160 – $120(second 1/2 Rent) = $40 + $200(raw Mat.), the same for the liabilities; is that So? -
Thank you! Great video.
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One of simplest way of understanding financial statements, Thanks a lot for all the videos!!
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Thanx a lot ^^
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Excellent tutorials. Just an FYI, "material" is misspelt in a number of slides and there is no such word as "irregardless". Sorry, little "OCD" here!
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Why did you count the paper and not the markers in inventory?
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VERY GOOD VEDIO THANK A LOT
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if I buy office supplies with a credit card, that shows up as an expense and also an account payable. My question is do i need an accounts payable account for office supplies along with the asset account for Office supplies???
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Thank you. But isn't the right statement is wrong at 2.54 ?
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Great video, really helpful and straight forward.
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When you are showing accrual method vs cash method did you make a mistake of thinking $425 + $250 = $750??? it does not, it comes to $675 or am I missing something here? I'm confused. Btw, thanks a bunch for the wonderful vidoes
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Thank you. I'm glad you found them
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These are probably the best simplified accounting tutorials I've seen. Nice job.
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Great vid! I like the flow of information in this video better than the first one.
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very crisp … loved it
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Thank you. This is very useful!
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