great video. for chris clark capital when would it been 50,000 be used ? can you go in more detail why capital was not put in but put in additional contributions? i am very confused.
The owner’s initial investment to the busness is Ph 100,000.00. If the business has Ph 200,000.00 revenue and Ph 210,000 expenses, how much is the owner’s equity?
Hi, i hope you mind me asking but i got confused to the idea about the 50k wasnt the starting capital but as additional contribution, i mean how can you have additional contribution to a company when it havent started yet
Hello! An additional contribution refers to any contributions that were made during that particular year. Since this was the first year of operations, we are starting with $0 in starting capital, and during the year, contributions of $50,000 were made. If the wording bothers you since it is the first year of operations, you can call it simply "contributions" . :)
It would be Shown As "Donald Trump Atms, or gets cash from From The Business , or paid himself $500 as Wages This should be Deducted from Capital account
Hello, Im having trouble getting the beginning equity, it didnt state it anywhere for me and its not 0 because when i type 0 it says incorrect. i asked my professor with help on my excel assignment and he was no help. he kept telling me to use the equation.
hey guys I'm confused how to determine the capital at the beginning based on the time. I mean sometimes it is zero sometimes it is written from the figure inadjusted trial balance. Aw my brain is dead!!!!
Tried to find this answer for hours I listened to you video for three seconds and got the answers thank you for posting this video
I asked all colleagues but nobody teach me 😅
thank you its so easy to see what goes where when you explain
Thank you this was very helpful and informative 👍👍
Thank you, Ma'am 😊
for chris clark capital what key words would i look for to know capital was used or put in investments?
Appreciate the most
I need help my problem has additional investment and withdrawals
thank you very much, soo useful lessons
great video. for chris clark capital when would it been 50,000 be used ? can you go in more detail why capital was not put in but put in additional contributions? i am very confused.
is because its 1/1 the date??
Thank you 🙏🏽
Very helpful! Thanks!!
Thank you mam🙏🏼
When dealing with contributions, what do you do if there are two contributors
Are you referring to a partnership? In that case, you will show each partner's balances and changes separately and then as a total.
@@accountinghelp so at the end you add theirs together then net income into that total
Is this the same thing as stockholder's equity statement?
good job
The owner’s initial investment to the busness is Ph 100,000.00. If the business has Ph 200,000.00 revenue and Ph 210,000 expenses, how much is the owner’s equity?
Hi, i hope you mind me asking but i got confused to the idea about the 50k wasnt the starting capital but as additional contribution, i mean how can you have additional contribution to a company when it havent started yet
Hello! An additional contribution refers to any contributions that were made during that particular year. Since this was the first year of operations, we are starting with $0 in starting capital, and during the year, contributions of $50,000 were made.
If the wording bothers you since it is the first year of operations, you can call it simply "contributions" . :)
@@accountinghelp thanks you very much😀
@@accountinghelp so the 2nd year same problem would the 50000 be capital?
Hi how to find the owners withdrawal?? Like for example.. how much money did the owner withdraw from the business?
It would be Shown As "Donald Trump Atms, or gets cash from From The Business , or paid himself $500 as Wages
This should be Deducted from Capital account
It is the one that says “Christopher Knowles, Drawing”
which program do u use it ?is it excel or word?
I use Excel. :) Most of the spreadsheets I use are available at www.tlctutoringcompany.com
hello are statement of owner's equity and statement of financial position same thing?
The statement of financial position is a balance sheet.
simply perfect
Hi, may I know what is Owner's Equity means?
Total value of ownership?
Essentially. The balance and owner's equity represents all contributions made by the owner plus any net income minus any distributions.
Hello, Im having trouble getting the beginning equity, it didnt state it anywhere for me and its not 0 because when i type 0 it says incorrect. i asked my professor with help on my excel assignment and he was no help. he kept telling me to use the equation.
Did you ever figure it out? I'm having the exact same problem and can't find an answer anywhere.
Perfect!!
Do you do the same for a net loss?
If it is a net loss, then the amount will be *subtracted* rather than added.
hey guys I'm confused how to determine the capital at the beginning based on the time. I mean sometimes it is zero sometimes it is written from the figure inadjusted trial balance. Aw my brain is dead!!!!
Generally, it is only 0 when it is the very first period of operations.
Wondering😢
Chapter 13
Chapter 13 homework