FA29 - Merchandiser's Financial Statements - Stmt of Changes in Equity
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- Опубліковано 7 вер 2024
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Module 6 examines inventory purchases, discounts, returns and allowances. We will cover journal entries for many inventory transactions, and we will learn how to prepare a merchandiser’s financial statements.
LOL. I like how you share your struggles about technology with us.
they are still very informative and helpful in 22.01.24
Changes in equity? More like “These have got to be”…some of the most educational and entertaining videos on UA-cam. Keep up the amazing work!
The last line is supposed to be March 31, 2024 my ocd was killing me haha.
ARRGH - you're right :)
this things is getting good I think if I have no work I would keep watching your videos the whole day hhh
An amazing video as always! Thank you so much for these free videos, they are still very informative and helpful in 10.2021 :D
Do you mind changing stmt to statement in the video title ?
It would be easier to search on google and youtube
Shouldn't it be March 31,2024 at the end of the Statement of Changes in Equity?
Yes it was a mistake
yeah, it should be I caught that. Hope someone can message him about it. I just dont have time right now. TY.
bless u
Would accounting for profit sharing be considered in the statement of changes in equity like a dividend, or accounted for within the income statement?
I would consider a profit share part of the expenses related to salaries and benefits expense - so yes, income statement expense.
@@Tony-Bell I appreciate the response and reasoning why! The part that has me thinking was knowing profits before being able to calculate the expense of the profit share. Would you calculate a profit, before profit-share then the profits share. Then a profit, net with the profit share accounted for?
@@TalkToMe2Day Let's say my profit was 100K, and I want to allocate 25% - 25K to profit sharing. I would calculate the profits, then add the 25K into a profit share expense account (DR Profit share expense, CR Profit share payable) - and my actual income statement profit would decrease by 25K, and my liabilities would go up by 25K.
@@Tony-Bell Perfect, thank you for explaining!