Lesson 017 - Adjusting Entries 1: Prepaid Expenses (Basic Approach)
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- Опубліковано 30 чер 2024
- Hi! This is Sir Chua's Accounting Lessons PH
Lesson 017
Adjusting Entries 1: Prepaid Expenses (Basic Approach)
Get Handout 017 here:
drive.google.com/open?id=1dUC...
Kevin Troy M. Chua, CPA
*Certified Public Accountant, October 2014
*BS Accountancy
*Master in Accountancy (CE Pending)
*NC-III Bookkeeping, TESDA
*Accounting and Finance Lecturer
*Formerly from PwC - Isla Lipana & Co. and SM
For comments and suggestions, you may put them down respectfully in the comments section below.
Thank you, Sir Chua! Sobrang naging helpful tlaga itong mga video lectures mo sakin. KLARONG KLARO ang explanations mo kaya hindi mahirap maintindihan. More powers, Sir! Sana madami pong teachers ang katulad mo. God bless!
Thank you for sharing your knowledge. You help not only the students but teachers as well. God Bless you!
Thank you so much, sir for free accounting lesson. My instructor wonder, why I've been acing all of her quizzes, though I don't have background on accounting during my SHS.💛💛 Super bilis ko lng na catch up. Galing mo sir💛💛👐👍
Thank you so much po. Sobrang linaw ng explanation, ang galing! ❤❤
Thank You Sir for your Video, helps me so much to understand Lesson in FABM1&2. Permission to use your video to my class in ABM. Mabuhay & Maraming Salamat po
Thank You so much Sir Chua!! Now I am more willing to learn Accounting.
Thank you very much, sir Chua! you're my savior especially in my FABM subject
THANK YOU PO FOR MAKING IT EASY TO UNDERSTAND AND YOU ARE REALLY A HUMBLE PERSON PO THANKS
Thank you sir Chua! I’ve learned a lot, keep it up!!
Sir thank you for this. Godbless you and more power.
THANK YOU PO SIR!!!!!! LIFE SAVER PO TALAGA KAYO HUHU. MARAMING MARAMING SALAMAT PO TALAGA
Thank you so much Sir Chua, at first I thought it will be really difficult for me to start studying this topic. But you made it easier for me to start advance reading and learning again. I hope what i have learned from this will be used when we tackle this on class. Thanks again sir.
iloveyou sir chua, salamat sa mga vids mo po
I am very excited in this lesson sir.. thank you for discussing it clearly ❤😊
Grade 11 po ako and fabm 2 na kami ngayon but hindi ko masyado naintindihan yung lesson namin about sa adjusting entries last semester. Thanks po dito sobrang laking tulong! I will also watch your other videos din po!
You're so good po talaga, thank you so much!
😂 Jimin 💜 thank you again sir! We really need more accounting educators like you.
Thank you po sir chua 😊😊napaka clear po ng pagpapaliwanag nyo..
Thank you, sir! Very helpful siya sakin ❤️
katuwa manood vids mo Sir thanks!
thank you so much sir!
Thank you so much sir! It is really a big help!
thank u sir Chua💜
and now I understand how to get a adjusting entry's (pero sakto lng 😅)
Thank you sir, galing po ninyo magturo.
that is true, the math isnt even complicated, like they said, "Take accounting, kasi magaling ka sa math" it really needs more english than math hahahahha
Im a fan of you sir.
Thank you
Thank Sir na merong katulad nyo
thank you and God Bless po sir
Salamat dito, Sir! Sa'yo ko lang po pala maiintindihan ang AJEs hahaha!
Thank you po nag ask yung teacher ko sabe bat dame ko daw alam..sabe ko secret haha joke sabe ko may referrence ako si Sir Chua.. ❤
THANK YOU SIR CHUAAA YOU SAVED MEEEEEE😫♥️
OMG,I wanted u to be my prof😭ang bilis ko naintindihan samantalag gulong gulo ako nung prof na namin nag tackle nito😫U r teaching is amazing po!THANK YOU SO MUCH😹
More positive vibes!
Thank you prof!💚
Omyghad thank you very much sir chua!
Thank you sir💓
Goodbless po
very helpful! thank u sir!!! 💜
The best!
Thank u sir❤️ I learned a lot po
Thank you sir! I am having a hard time in adjusting entries po but you made it easy for me to understand. Godbless sir!
saw u
thankyou po sir,Godbless
Thank you so much sir!!
Mas marami pa po ako natutunan sainyo kesa sa prof ko. Thank you, sir!!
Same
thank you Sir! medyo nagegets ko na po huhu finallyyyy
Hello po! Sir Chua sobrang laking tulong po ng video na ito para sa akin po lalo na po na minsan nahihirapan po ako sa adjusting entries. Ask ko lang po kung may mairerecommend po kayo sakin na books or website po na maraming transactions para sa journal entries and about po sa adjustments entries po. Bilang lang po kasi yung example na binibigay ng teacher ko po e.
Thank you po
thank you so much😇😇
thank you, sir!
Thank you! 🤎
Thank you sir ❤
Thank you❤
Thank you sir!
Sir Chua: " accounting is really more on english rather than mathematics"
Me who loves english and sucks at math : well, I think I've come to the right place🙄
Ako na muntikang malimutan mag Screen shot,,, buti nabanggit ni sir chua
thankyou sir!
Thank u po😊
THANKYOU SOMUCH SIR
💓💗
Good day Sir Chua. Im a follower. Best Acctg tutorial so far. Thanks.
I need your Clarification on my opinion please:
Asset Method vs Expense Method
Please correct me if Im wrong.
Asset Method
is better because Journalizing is fewer than expense method and timing is timely:
First, recording as asset as purchased;
Second, adjusting entries at the end of acctg period for used assets
Expense Method
Requires more journal entries and timing is quite not normal (i think):
First, purchases of assets are recorded as expense;
Second, adjusting entry at the end of period for unconsumed assets.
Third, Im not sure of this, but on the new acctg period. Another journal entry is needed to record the remaining assets as expense again.
Am I thinking it right, Sir Chua?
PS:
I just started watching you vids this week and am learning a lot.
I am planning to program an excel spreadsheet for acoounting of small businesses and apply the things Im learning from your tutorials.
Thanks and have a nice day, Sir Chua.
Thankyou sir, madali pong magets yyung lesson kaso mahina po yung boses ninyo, sana po malakasan kahit konti po sa susunod Thankyouuuu🖤
Sir, pag sa mismong tanong diba po isang dr and cr lang naman po need, bale pano mo malalaman if anong method gagamitin?
BAT ANG KOMPLIKADO MAG TURO NG TEACHER NAMIN HUHU, MARAMING SALAMAT PO!
Hi sir, as of April 30 which is the end of the accounting period the checks prepared by the company are not yet issued to the payees what I did I reversed the entries back to cash. What about in the beginning of the accounting period which is May 1 what journal entry should I make related to the reversing entry that I made.
Done po
Dito ko lang nagets assest method and expense method HAHAHAHA
sir, bat wala kayong lessong ant sa partnership T.T
how to handle the hand outs sir ?
Hello Sir, paano naman po ito? huhu
31-Oct-20 Adjusting Entries
Adjusting 1: Record the depreciation expense related to Service Vehicle amounting to Php 6.300.
Adjusting 2: Assume that Php 6,000 of the supplies were used.
Adjusting 3: Record insurance expense related to vehicle.
Sir chua pwede po makahingi ng other activities for all the adjusting entries? Ty po.
Sir,ask ko lang po. ano po magiging date nya halimbawa sa half of the month nag start then mag eend sa hindi pa magsasakto ng month? EXAMPLE PO, Dec 16,2018 - Feb 14,2019?
hala pano nga pag ganyan
no entry ata kapag ganyan hmmm or baka may specified siya na way kung paano ica calculate. halimbawa kung magkano yung nababawas each day. ah basta dikomaexplain
Ask ko lang po, ano pinagkaiba ng revenue sa asset? Why revenue cannot be asset? Sana po masagot huhu
Revenue is not classified as an asset in accounting because revenue represents income earned by a business from its primary operating activities, such as selling goods or providing services to customers.
Revenue is owed to the owner Part sya ng Owners equity. Ang katumbas naman ng revenue is Cash which is an asset. kapag tumaas ang revenue, tataas ang cash. Para balance ang equation.
bale revenue is what you earn po kasi and it’s equivalent to cash. cash is an asset
revenue is obviously kita but asset is yung mga ginagamit natin para kumita. based on my understanding sa tr namin🥰
Good day sir, I would like to inquire something. Can I ask for you email? Thank you, sir!
My fault for not watching accounting videos before pursuing BSA🥹😭 Thank you Sir for your video. It acts as an Encouragement for me na hirap sa Accounting🥹