Accounting for Beginners #25 / Accounts Receivable Example / Accounting 101 / Accounting Basics

yo yo what up what up certified public accountant toughness
greatest CPA in Florida without a doubt what up welcome back AFB audit for
newbies the motherfuck motherfreakin traditional collection is what we rose in this
biz number 25 quarter century you recognize how
it is 25 all right I was like oh simply press record brother Brad
simply press document alright thanks for clicking the video clip if you want to see
more accounting video clips me making a fool of myself
and so on and so on and so on hit subscribe it'' s down there somewheres check out my playlist
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playlist on on the internet regarding I'' m concerned I ' m a little biased perhaps yet obtaining dragged young boy then juicy child infuse alright If you just watch if you just watched 24 this is kind of a.
continuation does the transaction deal assets properties As well as realize I never, alright.
even specified properties I will certainly make an entire video clip on what a possession is scurry from.
the interpretation of the publication right here the sources owned by organization arts properties.
instances of assets include cash land structures and also devices sources.
sources of a business those this transaction boost properties possessions our.
sources we obtained in our business all best Brett what'' s the purchase. purchase is provided solutions on account for 6 thousand initial point'. you ' re going to do DC a written it a thousand times I said a thousand times.
what is the DC reduced all right allow me simply get it off when we get on a paper we hopped on.
paper dc-8 or all right alright currently that'' s a couple secs now what are the do what. is the dc-8 ler hang on I'' ve been writing this on my paper each and every single.
morning for a month currently I know this I got.
this okay back in jump cut young boy here you know you love it all right so are we.
having enjoyable yet me allow'' s have some fun this is easy-peasy it'' s drizzling outdoors.
today we'' re going to have fun a little FB classic series of war Oh.
for some warming up hand side fuzzy and also cozy some enjoyable the entire world does this.
to make the world go around Oh initially thing you do D sealer after that you.
write it down debit credit score possession draw expenditure responsibility equity profits that'' s. our debit credit let ' s checked out in to the inquiry provided.
services on account for $6,000 right here'' s our concerning$ 6,000 so we ' re
functioning with.$ 6,000 for our quantity there ' s a$ 6,000 you gave solution that represent.
$ 6,000 so we do have a quantity we don'' t have camera searching for money I put on'' t have. money supplied solutions this would probably state for $6,000 cash money or.
something where doesn'' t it claims on account so what the heck what the heck. gets on account what the hell is on account well you know you'' ve been doing. this a little bit you you kind of know I'' ve become aware of an Accounts Payable prior to.
mmm but payables pay a bull I am accountable so an account payable is an obligation.
well I'' m never beginning off on brand-new in this accounting world so I'' m simply going. to put accounts payable below'there ' s an additional account that I'' ve become aware of. balance dues yes that'' s what I do benefit someone and.
they say I'' ll pay you later because there ' s an account and also I obtain a. receivable I want they would have put given services on accounts receivable. 'that ' s why you kind of obtained ta assume a little bit slow-moving down simply think of.
what'' s taking place rationally I offered I result I provided.
solutions I supplied solutions on account for $20.
I offered solutions I trimmed someone'' s lawn for $20 did they pay me since.
they pay me pay no it'' s on account so they owe it to me I guess because I. didn ' t give me cash money I need cash where where'' s my money pet dog.
you'' re gon na owe me later oh all right you sure I sort of required that.
cash currently so anyways I'' ve become aware of accounts like
. you owe me later rather than cash he'' s a receivable he ' s a receivable that. notorious b.i.g ready to die he ' s astonishing 1996 I resembled among my.
initially CDs that I got I assume that in Craig Mack taste near was the tooth for.
CDs head pot was 18 years old there are some accounts that I'' ve heard of I ' ve. become aware of the accounts payable I ' ve come across receivables I know accounts. payables liability since payables are liabilities what the heck is an account.
receivable like exactly how do you know that'' s a balance due since I just.
know that when I do benefit somebody and also they say I owe you later it is an.
receivable as well me and it'' s it ' s a receivable so those receivable. and also payable I ' ve simply done enough to understand that'' s how it is why I constantly state. technique technique practice what is a receivable it'' s instead of feline.
it is an S will certainly look at properties common assets are back attaboy.
alright so usual common properties are cash money inventory buildings equipment accounts.
receivable as well as so on and so on and so on alright so currently allow'' s obtain this let'' s obtain this allow ' s. do the journal entries and see if the properties increase or not good let ' s. do the journal if you sell we'' re mosting likely to place a line via for debit as well as.
credit score given solutions on account for $6,000 currently we'' ve just. we ' re simply been type of speaking nauseam regarding on on account in place of cash and.
balance dues we understand balance dues is what it is since we.
someone oh you $6,000 on accounts receivable what you do you perform.
solutions so allow'' s simply you recognize you perform services that ' s your everyday. If you
perform if you perform your, solutions it ' s why you ' re in company that. solutions for something as well as get cash or an IOU for cash later on it'' s an earnings. that ' s what you do it'' s like you earn money it ' s a revenue you spend money. it ' s a cost make money to Reverend oh you spend money to expense so I. gave solutions so I ' ll be an income hug your heart consume a person owes us$ 6,000. you supplied services that is an earnings so service it'' s your main the major. solution you perform in your company service $6,000 what is solution service is a.
revenue $6,000 solution that'' s on the credit rating what is a service is a revenue'. because you'' re obtaining you ' re getting cash for what you'' re doing so'it ' s a. earnings it ' s on a credit report as well as if it ' s if it ' s a credit and also revenue it'' s rising. we'have earnings go a profits credit rating is going up debit. credit scores allow ' s see if this functions we ' ve got earnings solution earnings going. up yeah we ' ve got the accounts receivable which is an asset for$ 6,000.
rising does the debits equal the credits indeed does that make good sense yes.
since'I did I did a solution for $6,000 to make sure that ' s my earnings account need to be. increasing by 6000 and also services is it'is in the charts of accounts for revenues. If it ' s an, currently allow ' s go over to the debit side on account receivable for $ 6,000.
possession it ' s going up on the left'side row my accounts receivable going up by 6,000.
yes so that makes good sense debits equal debts so anyways I ' m simply mosting likely to do. the journal entry for it and afterwards we ' ll run out right here back at it so this would.
be the journal access debit accounts receivable for 6000 debt services for. 6000 now we ' re at adrenalin Cherie it ' s. always debits on the left and also the credits are type of startled such as this. debits are constantly first a bitch Christie Ziggler damn this fee appears like crap I.
was a post manufacturing the very first time doing this so let'' s see if
it works I. never addressed however of course the possessions are rising so yes this purchase does.
Because you know, boost properties by 6 thousand 4 matters receivable the trip of a.
thousand miles starts with one step action I really likeUnderstand
speeding it being a certified public accountant took me seven or eight years to come to be a CPA as well as I.
struggled along the entire method it almost surrendered a lot of times and if I never ever.
would have you recognize took the primary step I would certainly never be a CPA so it'' s like it ' s. a eight-year trip yet it all began with taking that first you got to the.
Action doesn'' t matter just how long it'' s going to take you you recognize it might be a.
thousand thousand miles it'' s a good first
very first. it ' s like my first step was walking right into at the Neighborhood College right here in Broward.
County Florida going to Broward University and saying hi there I'' ll be a CPA bruh deuces.

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