Free Accounting Course – Part 3 – Double Entry Accounting #bookkeepingcourse #doubleentry
This is the 3rd video clip in my free of charge on-line bookkeeping program. This training course shows the principles of dual entrance bookkeeping.
This video clip covers dual access – credit scores and also debits.
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This is the 3rd video clip in my free on-line audit training course. This training course shows the principles of dual access bookkeeping.
R B
So regarding assets n liabilities. If company buy company car with a loan do I log value asset n the outstanding loan amount as a liability
BookkeepingMaster
That is correct – Debit Asset, Credit Liability. I hope this helps
Aviation001 :0
I am really Thanks to you for 😊🙃 your clearly understanding spiking just the perfect teacher and I’m the one of likest person to find your lessons about book keeping
BookkeepingMaster
Wow, thank you! Thanks for watching
DianaVCreations
Ok my question is where are you getting the account names? In the first example the transaction was called capital introduced then in the credit side you put capital. Do you just make up names?
BookkeepingMaster
Capital introduced and capital are the same accounts. Thanks for watching
DianaVCreations
@BookkeepingMaster I am strongly considering taking your full course, what does the 65.00 in euros equal in American cash? and the total cost of the course? It looks like euros are 1.0882 per cash dollar, just need to make sure.
Elaine Sykes
Thank you …… many many times!
BookkeepingMaster
Thanks for the comment
Stephanie Tustin
Thankyou for offering this. I am currently studying via online learning. Amd am totally lost and confused with it. Your explanations are so much simpler
Libertas Ca
So an expense like insurance is a debit because you get protection in return? Or what is the reason? Sorry, I’m recently taking classes
BookkeepingMaster
Hi. Insurance would be an expense, so debit. I hope this helps. Thanks for watching.
Simply Miles Smiles
Learning here.. Thank you for your videos.
BookkeepingMaster
Glad to hear that!
Terri RaFalik
I struggle with the Debit and Credit. I can’t help comparing it to using the literal translation. Why is Sales a Credit. (Credit defined as :leaving the account.) I would think that Sales is a Debit = money coming into the account. FYI…Enjoying the video. Thanks.
BookkeepingMaster
Hi. Yes, the sale coming into the bank is a debit, but that is just one side of the transaction. The actual posting of the sale is a credit – debit the bank, credit sales. Thanks for watching.
Alice Poulson
I very much love your courses
BookkeepingMaster
Glad you like them! Thanks for watching.
Tee V
Can equity be thought of as capital as well, or is equity different? If different, what makes it different?
BookkeepingMaster
Capital is equity. Thanks for watching.
Hadassah 758
Thank you very much for the explanation very easy to follow. Really appreciate it. New subbie 🙂
BookkeepingMaster
Awesome, thank you!
JimVarneyHaHa
Aren’t revenue and sales the same thing?
ozzysmum100
Is your web site still active?
Adrian Canning
Debit = Money In, Credit = Money Out so if you follow this rule than the accounts will be correct.
ANDREA TAYLOR
I understood credit to be an asset and debit to be a liability. Credit adding to the account as in a sale or deposit. Debit paying a bill. Is this incorrect???