Відео

Thank you sir this topic was very confusing

Gg

you might hav made a mistake u didnt add 8k that got debited to Adrian's A/Cin bank account during balancing the accounts.

Thanks was realy confused why all incomes to bank are debited now I understand the concept with the your simple rules,

Please, how can you chat with you individually.. I have a question that I am finding difficult to answer

Thanks 😊

Quiet good❤

Brilliant, thank you so much. You have explained so clearly something that I was taking forever to understand.

I learned more in this 10 min then in 12 weeks module . Thank you

Hi, This is a fabulous video, but i am struggling to realise why purchases in example 3 would need a purchase account and not use the bank?? Is it because a purchase is an asset so it needs to be debited?

BEST TEACHER EVER BEST VIDEO EVER THANK YOU

I love this mf

Where do the incomes go

i have been trying to get this into my head for years thank you so much!

This is why all field personnel can summarize a situation fluidly

This video is a great introduction to the topic.❤

Why

siyabonga shem

thanks so much bro this helped me out a lot

Thank you you are my hero

Thank you! You made this soooooooooooooo easy. God bless you!

This video has helped me to understand it better, but I still don't understand why the term 'debit' is used because the dictionary definition for debit is a debt or money owed. Surely an asset is supposed to make you money.

This video lost me at around 9:17, why must there be a separate account for the premises and creditors instead of leaving it as a credit from the bank?

thank you for this video😊

What is a purchase account? I thought you already had a bank account.

Nothing he says explains me anything 😅😅

This video help me a lot with the understanding of Debit and Credit, Thank you so much Danial.

Debit the receiver Credit the Giver Thank you

Thank you 🎉

🎯 Key Takeaways for quick navigation: 00:00 📚 *The accounting equation: Resources in the business = Capital (resources supplied by the owner) + Liabilities.* 01:18 💰 *Assets (e.g., fixtures, fittings) = Capital + Liabilities (amount owed to others). The accounting equation must always balance.* 02:35 📝 *Double entry bookkeeping uses T accounts with debit (left) and credit (right) sides. Every transaction impacts two areas, and the equation must still balance.* 03:59 📊 *Ledger accounts record transactions, each with a date, details, and financial amount. Debit one account, credit another - ensuring the equation balance.* 05:47 🔄 *Rules for debiting and crediting: Increase in assets or capital is debited; decrease is credited. Increase in liabilities is credited; decrease is debited.* 06:53 🔄 *"Debit the receiver, credit the giver" rule helps decide which account to debit or credit in transactions.* 07:49 📈 *Example transactions: Business receives 100,000, recorded as debit to bank and credit to capital.* 08:58 🏢 *Purchase of premises for 70,000 recorded as credit to bank (decrease) and debit to premises account (increase).* 09:51 📦 *Purchase of goods on credit (liability) for 12,000 recorded as debit to purchase account and credit to Adrian's account.* 11:02 🔄 *For every transaction, there must be a corresponding debit and credit to maintain the balance in the accounting equation.* Made with HARPA AI

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Excellent video. Succinct and easy to understand. Relevant examples too. Thank you

You're good at it Sir

😊found it very helpful Thank you please!!!!

God bless you sir for this explanation

I just noticed the difference between yours and our book. Is Capital and Income the same thing in Accounting Equation?

My lecturer spent 2h trying to explain this. They should have just put up this video omg

good asshole

You sir are a true legend!!

I was suffering from not understanding these, but now I'm good at this 🙂☠️

THANK YOY SO MUCH MAN I JUST STARTED YEAR 10 ACCOUNTING AND WAS KINDA LATE TO MY CLASSES BECAUSE I SWITCHED FROM PHYSICS TO ACCOUNTING AND UR VIDEO HELPED ME A TON BECAUSE I COULDNT UNDERSTAND STUFF IN MY CLASS AT ALL THANK YOU SO F'ING MUCH LOVE U DUD

Oh my god, you’ve just explained this so simply I’ve been pulling me hair out trying to understand this!! Thank you so much!

Thank you sooo much

So does that mean in a company, every employee has a ledger account to keep track of money debited (paid as wages)to them?

That was amazing thanks i've learnt alot

It's been 6 years since you uploaded this video. But seriously, this explains it so simply. Fantastic work.

Continuing this example, You sell 10% of your inventory $1,200 in the first month and earn 10% profit on the sale ($120) Step 1) Debit "purchases" $1,200 and credit the "Bank" account for the same |---| Ledger Entry: October Sales xx/yy Step 2) Credit the cash account $120 and debit the capital account by $120 |---| Ledger Entry: October profit xx/yy Would this be an accurate continuation of the proposed hypothetical? Or did I get something wrong?

My favourite double entry UA-cam

Great explanation

why do u sound like the joker with a strong British accent anyways i loved the vid