Journal Entry Preparation Exercises (Answer Along Video) - Episode 4
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- Опубліковано 5 сер 2024
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The CPA Board Exam is probably one of the toughest in the Philippines.
That's why we aim to help students to have a good fundamental accounting background to help them in their CPA journey.
In this series of lectures by The CPA Recipe, we discuss the basics of accounting in a fun, easy to understand, and engaging way.
In this episode, we:
1. Practice the rules of debits and credits;
2. Prepare the journal entries for 16 different transactions that cover different areas and principles of accounting.
Subtopics discussed include:
-Prepaid Expenses
-Unearned Revenue
-Revenue Recognition Principle
-Accrual Accounting
-Expense Recognition Principle
-Matching Principle
Link to Chart of Accounts:
drive.google.com/file/d/1oJNz...
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"THE CPA RECIPE'S FIRST GIVEAWAY"
😱😱WIN AN ORIGINAL ACCOUNTING BOOK (LOCAL AUTHOR) OF YOUR CHOICE DELIVERED RIGHT AT YOUR DOOR STEP!😱😱
YES, OF YOUR CHOICE. Kahit anong subject, kahit sinong Filipino Author.
GIVEAWAY MECHANICS:
SIMPLY DO THE FOLLOWING 4 STEPS TO PARTICIPATE:
1. Comment the reason "why do you want to be a CPA?" in the original post (see the link of the original post below).
Link of the original post:
watch/?v=902...
2. Like the original Facebook page post (see link provided in step 1).
3. Follow our Facebook Page.
Link to Facebook Page:
/ cparecipeofficial
4. Subscribe to our UA-cam Channel: The CPA Recipe
Link to UA-cam Channel: / @thecparecipe
MAKE SURE TO FOLLOW ALL THE STEPS MENTIONED (1 TO 4) TO EARN A CHANCE TO WIN.
THE COMMENT (REASON WHY YOU WANT TO BE A CPA) with the MOST LIKES/REACTS WILL WIN!
CUTOFF AND ANNOUNCEMENT OF WINNER IS ON JULY 31, 2020!
SHARE THE POST AND TAG YOUR FRIENDS SO THEY CAN JOIN, TOO!
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Links to Other Episodes:
Episode 1: What is Accounting?
• What is Accounting? Fr...
Episode 2: Mastering the Rules of Debits and Credits
• Debits & Credits and P...
Episode 3: Sole Proprietorship, Partnership, Corporation & Limited Liability Company (LLC)
• Sole Proprietorship, P...
Feel free to comment on what you think about the lesson. Enjoy!
Don't forget to Subscribe!
Feel free to ask questions dude pare tsong!
Hi po! Ano po ibig-sabihin ng transaction na 'Received equipment from a customer to apply on his open account' ?
I think ang ibig niyang sabihin eh nagbayad ang customer ng equipment para sa utang niya, instead of cash.
@@TheCPARecipe Thank you po! 🧡
Please share our channel to your classmates ❤️🙏
Hai kuya nahihinrapan ako gumawa ng journal entry pwede po patulong ano po name niyo sa facebook.
Thank you sir
the videos are very helpful
This is very helpful. Thank you so much, professor!
Maraming salamat!!! I hope you would stay tuned to my channel.
Prof Ron, super galing! Easy to understand. Hoping for more videos from you!
Hi! you can check out the latest video. Now available 😊
Thank u po! Learn lot from your videos....
Thank you Rizalyn. More episodes to come. Please help us reach more students like you by sharing our channel or our videos. ❤️
Awwwit sabi ko na talaga grabe na kalawang sa utak ko e 😂 Thanks for this po
Please tell your friends and classmates about this channel!
buti nalng andito ka professor nakalimutan ko na ang mga lecture namiin nung grd11 at grd 12
hahaa salamaat po.
Good job sir 😊 natuwa ako sa lesson ☺☺☺
Salamat Arlene! Already working on the next one. ❤️
ANy tips po kung paano ko masisigurado na prepayment sya at hindi income or expense agad.. Dun po kasi ako palaging nagkakamali eh.. Narerecord ko na agad sya as income or expense instead of liabilities and assets..
NAkakalito huhu dami kong mali..
Paano Naman kapag.
Dr. Tan opened his dental clinic on January 2 and invested the following:
Cash. 50,000
Dental equipment. 100,000
Office equipment. 20,000
Office furniture. 40,000
Need kopo nang kasagutan para maumpisahan Kona journal entry ko please po
Date:
January 2
Debit:
Cash - 50,000
Dental Equipment - 100,000
Office Equipment - 20,000
Office Furniture - 40,000
Credit:
Dr. Tan, Capital - 210,000
Pano po sir ang expense from July 1 to July 4 (sa last example po)?
You will record that for the month of July. Kapag tinotal mo ang inaccrue mo for June, plus the portion for July, it should add up to the total bill na siya namang babayaran mo sa July. Ito yung tinatawag natin na accruals. Also, this is a type of adjusting entry that can be reversed for easy recording ng July.
Thankyou po sirrr! So irerecord lang yun sir pag nareceive na ang bill for the month of July, tama po ba?
Yes po. In real life cases, before mo pa maclose ang accounting books for a period, information for the previous period will become available. Good example niyan is utilities talaga. So you need to recognize a portion of that para sa proper period. This is discussed extensively in episode 6. ❤️
Yayy! Thank you po sir, dami ko po talagang natututunan! 🖤🖤🖤
"THE CPA RECIPE'S FIRST GIVEAWAY"
😱😱WIN AN ORIGINAL ACCOUNTING BOOK (LOCAL AUTHOR) OF YOUR CHOICE DELIVERED RIGHT AT YOUR DOOR STEP!😱😱
YES, OF YOUR CHOICE. Kahit anong subject, kahit sinong Filipino Author.
GIVEAWAY MECHANICS:
SIMPLY DO THE FOLLOWING 4 STEPS TO PARTICIPATE:
1. Comment the reason "why do you want to be a CPA?" in the original post (see the link of the original post below).
Link of the original post:
facebook.com/watch/?v=902...
2. Like the original Facebook page post (see link provided in step 1).
3. Follow our Facebook Page.
Link to Facebook Page:
facebook.com/CPARecipeOff...
4. Subscribe to our UA-cam Channel: The CPA Recipe
Link to UA-cam Channel: ua-cam.com/channels/KlH.html...
MAKE SURE TO FOLLOW ALL THE STEPS MENTIONED (1 TO 4) TO EARN A CHANCE TO WIN.
THE COMMENT (REASON WHY YOU WANT TO BE A CPA) with the MOST LIKES/REACTS WILL WIN!
CUTOFF AND ANNOUNCEMENT OF WINNER IS ON JULY 31, 2020!
SHARE THE POST AND TAG YOUR FRIENDS SO THEY CAN JOIN, TOO!