FA15 - Adjusting Journal Entries - MORE EXAMPLES

Module 3 examines five types of adjustments: 1.) Depreciation/Amortization, 2.) Prepaid expenses, 3.) Accrued expenses, 4.) Accrued Revenues, and 5.) Unearned Revenues.
We learn how to prepare an adjusted trial balance, closing entries and a post-closing trial balance.

[bryanguerra]

My accounting professor is nowhere good as you are in explaining these topics. Thank Christ for your in depth analysis

[PunmasterSTP]

Adjusting? More like "ignorance busting", because you're helping to teach people so much!

[idkwhatimdoing]

I don't really understand part c at 8:51. In the previous exercise (exercise 3-1A) in order to calculate the accumulated depreciation and depreciation expense, we had to do value of asset/# of years x 12 to get depreciation rate per month. Then we had to multiply this number by the number of months that have passed to get the accumulated depreciation, or, how much the value has depreciated in this time/reduced in value. I understand that in this example since we are not dealing with months we just do value of asset/# of years to get depreciation rate per year instead of per month (in this case, the depreciation rate per year is 214000/10 = 21, 400 per year). I don't understand why, in the previous example, we had to multiply the depreciation rate by number of months, but in this example we don't have to multiply the depreciation rate by number of years, and instead you just leave it as 21, 400 in the adjusted journal entry? Why is that? Shouldn't we instead multiply the depreciation rate by the number of years to get the accumulated depreciation? (Although in this example you can't even do that because you aren't given the number of years, it just says "years ago")

[mathialagangopalakrishnan]

I got so confused with preparing AD JE but with your lectures i am able to understand now .Thanks sir

[JessicaFisk-wh]

your videos are still getting me through accounting! Im PASSING my class with an A because of the time and effort you put into your videos! THANK you so MUCH Tony Bell! Your appreciated.

[ethanneu]

Thank you so much for your help, helped me learn right before the exam and you were as straightforward as can be

[shamsamuhamed]

I am from Kenya your videos are very beneficial. THANK YOU VERY MUCH

[ottomcannick]

Thank you so much for these videos. They make this topic much easier to understand.

[kelvinotieno]

Thanks a lot for these videos. I have made sure to download all of your problems and now they are mine 😅😅😅

[James]

Yesterday I struggled mightily in understanding adjusting entries. Today it's starting to slow down for me to the point where I'm attempting to work out these exercises. Will keep getting at it until I grow comfortable in doing adjusting entries.

[PrasannaThawait]

Thanks for making such good videos. They are very helpful.

[ds]

I have just found the channel & it is interesting & made me refresh my old forgoten knowledges, thank you Tony

[chefartykbaev]

Such a teacher. Amazing explaination, thank you so muchhh!!!!

[Sean-du]

Thank you very much. Your lessons are very helpful. Respect!

[bkosimi]

Excellent teaching! You do really make accounting sound easy and fun. :) Well done. 👌

[chocymachado]

this was awesome!!! first video that has adjusting entries like i get in my studies everyone else just seems to do basic purchase entries. do you have a video where you explain your cheat sheet? though i do get the idea just wondering if some details would help in apllying it...but very cool.
i have never come across the account security revenue what else do you think the entry could be if it wasnt there can you please give me a brief explanation on the account?
great work on to the next part

[einszweiweltstein]

Thank you for your videos Tony, very helpful indeed.

[jaimiechen]

You video is very useful and informative. Thanks

[jen]

Thank you so much. Extremely helpful videos!

[ismailismaili]

I love to adj the rail balance it's really fun for me