Trading stock is an asset not owner's equity and so if trading stock is an asset that means it increases on the debit side not the credit side for owner's equity. It is incorrect for you to state that trading stock owner's equity and I kindly request that you update or fix that error you have made as soon as possible because other learners could mistake it into being owner's equity and get it wrong in a test or an exam. Thank you
Thank you so much for your comment. I hope that this explanation will help: You are 100% correct. Trading Stock is an asset and increases on the debit side and DECREASES on the credit side. We are not exactly sure where in the video it is that you state that we referred to Trading Stock as an Owner's equity? If you are referring to the Trading Stock that decreased on the credit side, this transaction is correct on the video as Trading Stock decreases on the credit side when stock is sold., because the Trading Stock is now less than it was before.
Yes trading stock is not an asset But trading stock is decreasing that's why it is credit when a person buys stock the stock will be reducing. Assets increase on derbit side and decrease in credit side
This teacher makes Ems seem so easy
These videos are really gonna benefit me in my exams thank you so much
im gonna watch these videos about 50 times so I can memorize it. veryy helpful video!
Thank you so much I passed 🎉❤❤❤❤
Thank you so so much , really appreciate it.
Thank you very much, this is easier to understand and very benefitting ❤
Where did u get the folio numbers from
Thank you Mr Kotyi for the time and experience you have
So glad the resources are helping you!
Trading stock is an asset not owner's equity and so if trading stock is an asset that means it increases on the debit side not the credit side for owner's equity. It is incorrect for you to state that trading stock owner's equity and I kindly request that you update or fix that error you have made as soon as possible because other learners could mistake it into being owner's equity and get it wrong in a test or an exam. Thank you
Thank you so much for your comment. I hope that this explanation will help:
You are 100% correct. Trading Stock is an asset and increases on the debit side and DECREASES on the credit side. We are not exactly sure where in the video it is that you state that we referred to Trading Stock as an Owner's equity? If you are referring to the Trading Stock that decreased on the credit side, this transaction is correct on the video as Trading Stock decreases on the credit side when stock is sold., because the Trading Stock is now less than it was before.
@@ThumaMinaTeaching how do you identify which accounts must come first and which one to follow in the general ledger ?
@@siphojoel5665 Thank you so much for your question. The General Ledger always have a specific order. You must learn this order ('rule') by heart!
Yes trading stock is not an asset
But trading stock is decreasing that's why it is credit when a person buys stock the stock will be reducing.
Assets increase on derbit side and decrease in credit side
w press
Thank you guys sm 😭this will help me
thank you for your work, this really helps me in my exam
How do you get the details for these accounts I'm confused
Please explain the double entry principle more
Thank u very much. For the upcoming exams❤
Tnx for the help
I have CJ and CPJ and I have to post to GL . Do I post CC in bank?
Yes
I was dared to dislike but it was helpful for u to do this
Thank you so much! I struggled with this section in class but watching your videos made so much sense to me 🫶
I understood nothing 😢
im cooked
Same same 😔
Aren’t we all 😔
Am I the only one confused by what this man is saying 😢
Can you please explain details