Accounting For Beginners #12 / 1 Journal Entry With 2 Assets / Basics

#Accounting #Exercise #CPA

[johndonlan]

You say that you're not a in truth, you're a terrific teacher! I've learned so much from watching your videos!

[atozzzzzzmo]

this is exactly what was throwing me - many thanks dude - like the guys said - you rock dc adeler strongest accountant in florida thanks

[magdalenamareckova]

Hey! you just saved my college exams! your explanations are way better than by profs! thank you so much! keep going on!

[janadutoit]

ADE = positive/increase it is a debit, negative/decrease it is a credit
LER = positive/increase it is a credit, negative/decrease it is a debit.

That is how I remember it.

[briannabarr]

Currently getting my Masters at FAU and this Accounting class is the first one i've taken ever in my life (art degree for undergrad). This is helpful because my professor spends 4 hours explaining something and you can do it in under 15 minutes. Thank you!
Additionally, I think we may be finding a new CPA...#noreally #imnotjoking

[soniadalfaro]

Yes please keep showing some examples. Learning a lot.
Thank you!😊

[stephenkrutzfeldt]

These videos are fantastic! One recommendation, it helps me to put a plus sign in front of Debit and a minus by Credits. Even though everything balances, it helps to remind me that cash out is a credit.

[AbdulHadi-bdju]

Hi sir, i'm doing CA and you helped me a lot in my basic accounting.
I want to request you to please make complete accounting videos.like making financial statements and much more difficult things.

[lesvion]

Now for my real confusion: DC ADE LER...Perhaps this is a matter of adjusting my perspective as well. As I now see it, the whole thing is like a lake with a river that flows into it, and a river that flows out of it. The river flowing into it we'll call credit river, the river flowing out we'll call debit river, and the lake stay's the same size since the flows are equal. It's a flow - credit = in, debit = out. I know I must have this wrong, because on the Debit side both Assets (like a desk coming in) and Draws (like me pulling money out) exist, so we can have things coming in
and going out, all on one side???. Same with the Credit side when we look at Liabilities and Revenues??? I'm am intrigued by confusion, because I know I'm about to learn something. I look forward to resolving this in my mind. Again, thanks for your videos - very helpful.

[esperienzafeel]

if you still dont know.. dc ade shame on you..🤣🤣🤣🤣 guyz m sry

[letstalkbusinessandpolitic]

What would the 500.00 on the credit side represent? Liability, equity, or revenue?

[kasseyhester]

Do you happen to know of any websites that allow you to practice journal entries? That will tell you you're wrong and help you to see your mistakes?

[generalleia]

Question: So in the DC ADE LER, if ADE in on the Debit side it's a postive, but if ADE is on the Credit side [outgo] then it's negative? Meaning: D: "ADE" are positive/debits, but C: "ADE" are negative/credits. Is that right or do I need to go back to the beginning?

[oanhusatv]

Thank you very much your video has subtitle. That's easy to understand for immigrants to the U.S like me

[trev]

Question: So DC ADE LER can be used at the same time on both sides? If ADE is on the right side, under credits, it would then be negative?

+D |- C
+A | -A
+D | -D

+E | -E

[ananddandavate]

Hello Sir, would it be possible for you to upload some more videos with some tricky aspects like loss of the assets in fire? Because it is difficult to find out where shall we put the loss (which part of A D E L E R ). As well please explain the relation between journal entries, trail balance and balance sheet. I have been struggling over it a lot...

[nitishar]

hi sir, Can you make a video on suspense Account and incomplete records? please

[itsmededra]

i ain't going to lie but i don't know what would i do with out you i have reach #12 video and am still watching more cause it helps alot DC ADE LER ROCK MAN THANKS FOR HELPING ME A 16 GIRL IN HIGH SCHOOL

[lesvion]

I'm a bit confused. I'll admit that's not uncommon. With a little adjustment in my thinking, I think I'm starting to put it together though...So - question - is my thinking right when I put it together like this:

Credit side MUST Equal Debit side. Period. End of story.
The following statements are correct:
+500 ≠ -500 & +500 = +500

For this reason, BOTH sides must be positive. (or perhaps both sides could be negative???)
That was throwing me off, however - because I was thinking about it from my usual perspective: if I buy a $500 desk, I get a desk worth + $500, but my wallet suffers a blow of - $500, and as we know, +500 ≠ -500. But, to view it from a perspective out side of myself: I get a desk worth + $500, then the vendor of the desk gets + $500 in cash, and as we know + $500 = + $500, so now both sides equal.

It's much like the use of double negatives when speaking: When I say "I ain't got nothing", I'm really saying that I have something. Thus a liability may be expressed in a positive value. When you owe money, what you owe is a positive value (thus you have a liability, or an account payable), if you owed a negative value then it would really be some one else who owes you (thus you would have an account receivable) - In either situation the amount that either is owed to you, or that you owe may be expressed in a positive value. Thus - with looking at everything as having a positive value, it would seem that accountants as well as very strong CPA's wear rose colored glasses, seeing only positives. Yet I know that's not quite the case. Regardless, I feel to have somewhat resolved my thinking there.


Thanks for your videos, they are at once entertaining and informative.

[deny]

Anyone know what methods go for what? Like What is used for accounts payable/receivables, bookkeeping, audit, taxes, payroll, accounting clerk, intermediate accounting, cost accounting etc. can someone explain these?