5 Debit and Credit Practice Questions & Solutions

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🆓Debits and Credits Free Quiz → accountingstuff.com/blog/debi...
💥Debits and Credits Cheat Sheet → accountingstuff.com/shop
🖊Debits and Credits Practice Questions → accountingstuff.com/practice-...
Accounting Basics Lesson 10. Join me in this episode of Accounting Basics for Beginners as we work through Five Debit Credit examples and solutions.
This episode of Accounting Stuff is a supplement to Accounting Basics for Beginners Lesson 2 - "Debits and Credits Easy Explanation" → • ACCOUNTING BASICS: Deb...
In this video, you can get in your Debit Credit practice by putting the skills you have learned to the test. Practice Questions have long been my favourite way to wrap my head around a topic, so I have put together 5 debit credit questions and solutions for us to work through together.
I'll show you how to solve these Debit Credit practice problems using "DEALER" which is a super handy way to remember the normal Debit and Credit accounts.
You can use this Debit Credit test to help reinforce your understanding of this topic which many people, understandably, tend to struggle with when introduced to Accounting. These five Debit Credit questions will make Accounting seem like a walk in the park. Don't forget to watch the video until the end because these Debit Credit examples get progressively more difficult!
🔴Subscribe for more Accounting Tutorials → geni.us/subtothechannel
⏱️TIMESTAMPS
00:00 - Intro
00:17 - Debit and Credit Practice Questions
01:06 - Question 1
02:17 - Question 2
03:07 - Question 3
03:47 - Question 4
04:50 - Question 5
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#accounting #accountingbasics #accountingstuff

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18 июн 2024

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Комментарии : 971

@AccountingStuff 5 лет назад

Apologies for the terrible handwriting! How did you find these practice questions? Would you like me to do more covering other areas? 🔗USEFUL LINKS ▪Debits and Credits Free Quiz → accountingstuff.com/blog/debits-credits-quiz ▪Debits and Credits Cheat Sheet → accountingstuff.com/shop/debits-credits-cheat-sheet ▪Debits and Credits Practice Questions → accountingstuff.com/practice-questions/debit-credit-question-pack-1 ⏱TIMESTAMPS 00:00 - Intro 00:17 - Debit and Credit Practice Questions 01:06 - Question 1 02:17 - Question 2 03:07 - Question 3 03:47 - Question 4 04:50 - Question 5

@rayhan321 5 лет назад

Can you post another with some new questions. you have likes and a follow from me, definately the most enjoyable out of all the boring videos i've found

@mustafajamal4205 5 лет назад

I dont understand what owner equity is! what is that please?

@souphieparker3524 4 года назад

words can not comprehend how much benefit you're offering. Appreciate >.

@sansuitv896 4 года назад

forget handwriting, the video is really amazing

@rebeka.h93 4 года назад

It's fine

@sudipachakravarty2332 5 лет назад

Man, how I wish you were my Accounting teacher...

@AccountingStuff 5 лет назад

Haha, thanks Sudipa!

@glamgirlsclub7605 4 года назад

Same sis

@lauramunoz5263 4 года назад

Same here😂😅

@meganataliapacheco 3 года назад

Me too!

@JomariLopez 3 года назад

IM DEAD HAHAAHAHAHAH FR THO

@mbc_place 5 лет назад

Hey I know u don't get ..Views but don't worry ..Plz and plz never delete these videos .. they will give u profit in future .. it's my gurantee .. u r great love u

@AccountingStuff 5 лет назад

Hey mate, I'm glad you find these videos useful! Thanks for your support 🙂

@lawtonjacinto3093 3 года назад

I'm gonna support this guy if I become an accountant 😂 3yrs from now lol

@mohamedsbh9072 3 года назад

We are in 2021 And he has now 220K subscribed Personally . I support the useful contents

@ADISTIDWINIRWANA- 9 месяцев назад

And here we go, 271k views now. I'm a new accounting student and ur video is so helpful, thanks James✨

@ActiveInsight. 3 месяца назад

did you end up becoming an accountant?@@lawtonjacinto3093

@joannamilligan689 5 лет назад

James, this allowed my brain to process everything logically, practically and in real time! Please upload more like this! By the way, all of your videos are great. I keep watching them over and over again. Thanks for all your hard work.

@AccountingStuff 5 лет назад

Hey Joanna, great to hear you are finding this useful! Sure, I can make loads more like this. Cheers for the support, all the best!

@Rocksteddybelmont 5 лет назад

Same

@hoangkieu204 3 года назад

Guys, even my accounting teacher does watch this series so I highly recommend you guys this channel :)

@yaqoubalshatti205 3 года назад

Yup. Good teaching is so critical yet so scarce as a skill.

@amrloay3593 5 лет назад

U should make more practical question videos like this one

@AccountingStuff 5 лет назад

Hey Amr, cheers for your suggestion. I will bear that in mind!

@Edwardozo 4 года назад

I have been struggling for like 2.5 months doing accounting for the first time. I wanted to take it as an elective (i am a pure science bio/chem major) in college and I tell you. This guy is a lifesaver. After following the beginner's accounting playlist on your home page, I can logically track and understand what is happening. Thank you so much. I'm on the verge of crying tears of joy because the structure of your teaching this topic is perfect. And this is the first time I did accounting exercises and finally got all of them right. Thank you so much.

@AccountingStuff 4 года назад

Sorry that you've been having a hard time with accounting. It sounds like it's starting to click which is great news! All the best

@alexruffels3439 Год назад

@@AccountingStuff same with me. I'm studying an accounting masters and now only properly understand thanks to your video. Thank you!

@shapebyshana324 3 года назад

you are literally my ACC 101 professor for this semester

@brittanyfenerty7849 2 года назад

Me too in my Accounting Class! I wouldn't be passing without James!

@jessmardanielbose9317 3 года назад

Man, you’re making accounting easier to understand especially for us, beginners. Continue making videos bro God bless 🙂

@AccountingStuff 3 года назад

No worries Jess, I'm happy to help

@VRwithJasmine 5 лет назад

Could you do practice problems with journal entires? Also stuff on bad debt expense

@AccountingStuff 5 лет назад

Cheers Jasmine! Yes it's about time I do some more videos on practice problems. Thanks for your suggestions!

@jaypatel6998 Год назад

We need more of the quiz like this. You can make quiz and give small gifts to who answers more accurately by keeping us engaging. Great brain processing activity.

@BMOO69 Год назад

i need to say this, you're amazing at what you do. You're the only educational channel I find fun to watch, other channels are boring at explaining things but your style is different. It's very informative and fun at the same time. Keep up the good work. Your videos are really helping me out.

@TheMandolinn222 3 года назад

Thank you SO much James!! You're saving my arse here not even kidding. I couldn't get this stuff strait but after finding your videos I feel so much more confident!! Please keep doing these problems, they help me to figure out the answers and confirm with yours- it's paramount for me right now! You rock.

@nunyaland 5 лет назад

I absolutely love love love your videos. Please dont stop!! Your production value and the way you explain things are done really well

@AccountingStuff 5 лет назад

Cheers Danny, I don't plan on stopping any time soon!

@brendanwoodcock Год назад

I am in an mba accounting class and I wish my professor were capable of teaching content in this manner. So effective for my understanding - you take it step by step slowly. Brilliant. Went from drowning in the content to understanding it well, in like 1/10th of the time I had previously spent. Sharing this far and wide. Thank you

@nicholasdepaola3740 3 года назад

You are a gods gift to budding accountants! You will never know how much you mean to us!

@daisywong1909 Год назад

I dropped accounting back in A-Levels as my teacher back then couldn't explain the concepts clearly. Your videos are probably one of the most useful ones that I could find on RU-vid (and they are intuitive!). Now that I'm planning to have my own business, I have to pick up accounting again. Your videos definitely have given me more confidence and interests in accounting. Please keep making more videos!

@anhdinhthiminh4602 5 лет назад

Amazing video, all the knowledge that I need to learn in 2 hours in class is included in 3 videos

@AccountingStuff 5 лет назад

Thanks Minh! Glad to hear that you're finding these useful!

@TingBie 4 года назад

These questions are well-constructed, providing scaffolding and reinforcement for learners. Thanks, James!

@AccountingStuff 4 года назад

Cheers Ting :)

@angiearias525 Год назад

I found this so helpful, thank you so much for taking the time to explain.

@DanielleJade1995 3 года назад

Could you do some more of these - this is what I am really struggling to get my head around and this has helped so much

@vinonawang7144 5 лет назад

loads of thanks James! i just started my accounting lecture this year and couldnt find a clue, then i found your channel and suddenly accounting seems so much easier for me. keep it up!!!

@AccountingStuff 5 лет назад

No problem Vinona! I'm glad you are finding these videos useful. Thanks and all the best!

@stann6280 4 года назад

you're really good at teaching, love the vid

@AccountingStuff 4 года назад

Thanks!!

@amberhume5877 Год назад

I love your videos. If I need to refresh my memory on a subject your videos have helped immensely.

@JamesTruong 3 года назад

Hey I been watching your videos for like an hour now. Super super awesome! Love the simplicity and visual makes it easy to understand. Thanks a lot and keep up the good work! 🔥🔥🔥

@AccountingStuff 3 года назад

Thanks James, hope they are helping!

@erikagaspar4016 4 года назад

I've had the hardest time understanding debits and credits, but working through these exercises with you is starting to clear things up. Thank you!

@AccountingStuff 4 года назад

No worries Erika, hope it's making sense for you

@VanessaDeniseAguilar Год назад

I'm taking a bookkeeping course recently, can't even understand a bunch of info my instructor is teaching. You summarized the terms and explained them in a perfectly digestible manner. You earned a subscriber here! Thank you so much :)

@AccountingStuff Год назад

Great to have you on board!

@paradiseofgod Год назад

Thank you for this video and the playlist for beginners! I'm new to this area and so it has been great to see your videos and learn this topic! Again, thank you!!!

@liz3796 2 года назад

You are an ANGEL! Cannot thank you enough for these videos!

@madisonsailor7225 4 года назад

This video as helped me so much! I am in college taking my first accounting class and tomorrow we have our first exam. Before watching this video I didn't know anything. However, after watching just 7 videos @accountingstuff I have learned more in 30 minutes then attending 3 weeks of class. Thank you so much

@AccountingStuff 4 года назад

Hey Madison, good luck in your exam!!

@EeshaanSafdar 3 года назад

You're videos are amazing. I got them all correct. And I'm under 15 so I'm hoping this thing will be easy

@AccountingStuff 3 года назад

Nice one!

@gugulethudube2249 Год назад

This is such a clean analysis and clearly explains the logic and the process, i'm new to accounting and have been exposed to some convoluted explanations which seem to skip some steps or leave some crucial elements unexplained thus leaving one with a feeling "I hear but why?' Your videos leaves one feeeling 'Ok, now i understand'.

@Cris-hk4cn 2 года назад

The presentation was exceptional. Thank it really gave me more clarity.

@aakashraj713 4 года назад

James, I wants you to be my accounts teacher dear and you eventually taught me that Accounting has to be done logically like Mathematics.I love you my teacher and Thank you

@AccountingStuff 4 года назад

No worries Aakash, I'm happy to help!

@rogeliomoisescastaneda7396 3 года назад

Very helpful exercises! An equivalent way I found to get the solutions is to recall crediting an account always means extracting money (value) from it, and debiting always means putting money in it, regardless of the type of account. For example, in exercise "The carwash pays a supplier $200 in cash. Which account is debited?" it can be translated to "[...]. Which account is receiving money?", and this is clearly accounts payable; whether the account increases or decreases with the debit is an independent story (of course checking that helps to reason the situation wholly).

@blacksho636 Год назад

i was scrolling across youtube to see if any videos could help me understand Debits and Credits. still fuzzy, but i understand alot more now. thank you!😀

@alexismorales695 10 месяцев назад

im about to start my first intro to accounting class it starts next week, this is really helping me get prepared and not nervous thank you so much for this!!

@gainsjames9345 4 года назад

I wonder why some would give thumbs down on something that will enlight their ignorance 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️ some people

@ronplays Год назад

You are becoming my favorite instructional RU-vidr! Stay blessed man, I wish you all the success!

@srushtipawar124 5 лет назад

Its been massively helpful to watch these vids to revise as I'm now giving my bar exam and have an accountacy module to prep for. I hope you don't stop the videos, ever. Thank you for all your help!

@AccountingStuff 5 лет назад

Hey Srushti, thanks I don't plan on stopping anytime soon. Good luck for your bar exams, I'm sure they will make Accounting seem like a piece of cake!

@ayshafernandez5307 3 года назад

Your videos continue to be the most digestible I've come across. Things are finally starting to click. Love the practice video!

@AccountingStuff 3 года назад

Cheers Aysha, all the best with your studies!

@ladieesc0 4 года назад

just subscribed!!! best accounting videos on youtube PERIOD!

@maariyahpeeroo2036 4 года назад

Thank you so much for this video, I love how you break it down and go through each steps with us! Makes it so much easier to understand. I’ve learnt more with your videos than I have sat in class 😁

@AccountingStuff 4 года назад

No worries Maariyah! Great to hear that your finding the vids helpful

@95skandar 4 года назад

I'm totally new to this field and found your channel by chance. My! What a gem it is! SO extremely thankful to have found it. You make concepts so clear and systematic even for a beginner. Keep posting such videos! :)

@AccountingStuff 4 года назад

Cheers, will do!

@franciscamonkurai3943 2 года назад

My first time of listing to your nice go easy way of teaching. May God bless your and us to catch the principle behind your explanations. Thank you so much

@Kotabearpants 2 года назад

This was so helpful! Thank you so much for making this video!

@emmafreer8791 4 года назад

Your tutorials are awesome James. You make everything easier to understand. My brain is now finally computing the bookkeeping transactions! Thank you so much. I'm recommending you to my colleagues and fellow students. I really look forward to watching your videos and learning about Accounting now.

@AccountingStuff 4 года назад

Cheers Emma, it's great to hear that you're getting the hang of bookkeeping!

@OneNonlyME1 4 года назад

Your videos are helping me finally understand Accounting! Thank you!

@AccountingStuff 4 года назад

Nice one! Happy to hear it's clicking

@yo3129 3 года назад

I have just discovered your channel, great stuff man and your explanations are exactly what I need!

@soulcake76 2 года назад

I’m preparing for my accounting course and with your videos, I will pass!!! Thank you!

@simplifiedbookkeepingfinan1572 4 года назад

Love these practice questions!!!

@mbugualucywaithera2325 3 года назад

Oh boy! Your videos are on fleek. They're so helpful. James you're the best accounts tutor! Add more videos on manufacturing accounts please. Wish I found your channel earlier. Thanks a lot and keep it up. Will definitely have to tell my classmates about it.

@AccountingStuff 3 года назад

Hey Mbugua! Thanks, it's great to hear that you're finding these useful. Cheers for your suggestion about manufacturing accounts!

@cutsncurves12338 10 месяцев назад

The last two questions are mind boggling thanks man

@annabradshaw213 Год назад

This is brilliant. I've finally got it!

@romansoehuazelei1925 Год назад

Thank you for the video. Your videos make me understand deeply about the concepts.

@eddymendoza5590 Год назад

Dood, all your videos are amazing. Thank you for taking the time to make such thorough videos. I liked how question 1 & 2 were linked so I could get both entries on the double entry accounting methods. Do you have any other videos that help identify what account the 2nd entry falls under? Sometimes it’s pretty obvious and other times not so much. Thanks again!

@akumar7366 2 года назад

Just love your presentation style , it's really helpful for me in my learning journey.

@meganataliapacheco 3 года назад

James I've been watching and rewatching your videos the last three days to prepare myself for my final test and this one helped a lot. Thanks for doing all these videos!

@AccountingStuff 3 года назад

Great to hear it's making sense, good luck in your test!!

@Anarchy-Farms Год назад

Great stuff! This helped me get my lesson and knock out that homework

@MartinGrigg 2 года назад

That was really helpful, thank you. Definitely helped to commit the previous lessons to memory.

@gregcohane1095 Год назад

Very helpful. I’ve taken numerous classes/courses up to and including accounting for my MBA. I always always struggle with math. My father used to beat me because he had an accountant’s mind. I went on to become a doctor (retired now) because the profession required no math excellence on my part and I could hire professional accountants for their skills. I’m watching your series to ‘try’ to prove to myself that I can learn with the right guidance and teaching. Many thanks. Lamont C.

@sinem3866 4 года назад

I loved how the music enters.. I didn't quite get the last question because if we credited account receviable which account we did debited? And I think the questions level was just fine. Thank you.

@crimcat9753 Год назад

I've never done any official accounting and just my own here and their and after you explained the DEALER along with Double Entry Bookingkeeping everything clicked. Thank you so much for your videos as it has been an enormous boon for my life.

@heavenmaebalaque7832 Год назад

Thank you for this video! Its a big help for me!

@moheuddinsehab 4 года назад

your dealer video is awesome.. i got 4 of them right thanks man!

@riteshmahajan5209 3 года назад

Great Exercise to check your accounting skills.

@saiyedatasnim4672 3 года назад

For me these transactions were really easy. I got all 5 of them right. I love this type of video. Thank you so much. Please make more of this & upload. It helps to understand where I have my weaknesses.

@AccountingStuff 3 года назад

Nice one! Thanks for your request

@marcsego2726 10 дней назад

Just a small business owner trying to wrap my head around the accounting side of things so I can be more involved with the numbers of my business and not solely rely on paying an accountant. Starting to get my head wrapped around this. Thank you so much for your video!!!

@AccountingStuff 9 дней назад

No problem, great to hear it's clicking for you

@angelstarfire 2 года назад

4:22 Wow I need to remember this, you explained it so clearly!

@AccountingStuff 2 года назад

No problem!

@norfarihahasan2776 Год назад

Thank you for making me interested with accounting!!!

@Zap-entertainment 2 года назад

to be honest I have no idea what this guy is talking about but I know that if I keep watching his videos I will eventually understand accounting. its just a matter of time.

@kiwi_jax Месяц назад

Just started my journey with learning accounting. These videos help me so much! Thank you for explaining them so clearly

@AccountingStuff Месяц назад

Best of luck!

@aliaghamiri4699 4 года назад

I watched several of your videos, you have a brilliant way of presenting, keep up the great work, thanks

@AccountingStuff 4 года назад

Cheers Ali, thanks for your support :)

@CPACareerPaths 4 года назад

Very easy to follow and understand. Well-done!

@rupertbutreally 5 лет назад

My Accounting Exam is tomorrow!!! This whole playlist is useful!! Thank you so much ahhhh

@AccountingStuff 5 лет назад

How did it go??

@hazemmashal2753 2 года назад

Thanks. Nice Examples.

@leesa01bringas Год назад

I watched most of your videos in preparation for an intro accounting credit as part of my current job/position. Your teaching and videos helped me substantially learn accounting principles in a short period of time. I passed my test! Thank you so much and I will continue watching and recommend your channels to others.

@AccountingStuff Год назад

Glad to help!

@sachabaute3435 4 года назад

It is really not easy to understand clearly accounting from a textbook, but you are making it so much easier ! Please never stop

@AccountingStuff 4 года назад

Thanks Sacha, I don't plan on stopping any time soon

@MrsNickJonas772 5 лет назад

Thank you so much for making these videos!! I have been educating myself on this topic for awhile and these videos have helped me more than most anything I have found!! Thanks again :)

@AccountingStuff 5 лет назад

Hey Ashlynne, no worries. Glad to hear that you are getting value out of these!

@wanderingtraveler7009 4 года назад

Thank you SO MUCH for these videos!!! Seriously. I have begun studying to get an accounting job and to eventually take the CPA exam. These videos help to make accounting easy to understand.

@AccountingStuff 4 года назад

No worries, it's great to hear that you're finding them helpful. All the best with your quest to become a CPA!

@noonix24 3 года назад

I love this channel so much it helps me love my major even more, keep on going these videos are such a life-saver!

@AccountingStuff 3 года назад

Will do thanks! All the best with your studies :)

@rchingli 4 года назад

Very easy! But really good. I wish I had this type of video when I was first learning the fundamentals of accounting at uni. Keep up the good work mate 👌🏼

@AccountingStuff 4 года назад

Cheers Ryan!

@trishamaytorres5313 Год назад

Hoping to have more of this. 🥰🥰 thank you so much! Your videos are very useful and helpful. 😁

@melissa9882 4 года назад

I'm a Controller with an MBA in finance and I find these videos so helpful and refreshing. In the workplace I get so caught up with indepth problems that I use these to get back to basics. Thank you so much!! I could have saved so mitch frustration in school from my terrible professors if i had discovered these sooner. Keep it up! ❤️

@AccountingStuff 4 года назад

Thanks Melissa, yes it's so easy to get bogged down in the routine tasks and forget how things work on a fundamental level. Great to hear you're finding these vids useful. All the best!

@nethalyflores Год назад

James, do you have more questions like this? I found these easier which makes me happy because it means I understand the basics. Thank you for these!

@kaidestinyz 4 года назад

Damn, you're the first person who can explain things this clearly. The teachers I had in university did such a poor job, I was told to memorize without any understanding which I just couldn't do. I could see you put tons of efforts in your videos, it's always so clear and crisp in the way you present and deliver, truly amazing.

@AccountingStuff 4 года назад

Thanks Kai, I'm really happy to hear that you're finding the videos helpful!

@saraiem1436 5 лет назад

This was really, really good. Finally a clear way to really sink my brain into the differences of debits and credits. Thank you! Keep making these videos - your great at the explanations, entertaining and fresh!

@AccountingStuff 5 лет назад

Thanks Sarai, great to hear that you've sorted the differences between debits and credits!

@sherrypicciano8920 3 года назад

New student. Joined today. Chose you for my instructor because your method works for me. To better retain the lesson I pause frequently to take notes. Quiz questions at the end of a module help me as well. I look forward to becoming competent enough to reconcile insurances for a company I am currently only competent enough to perform bank and cc reconciliations for. We predominantly use Sage 100 Contractor and occasionally QuickBooks. They attempted to teach me how to reconcile the insurances, but having no background or formal training I just didn't quite get it and therefore my JEs were never quite right. We all gave up and my hours dwindled. I need the hours back, so here I am. Cheers.

@AccountingStuff 3 года назад

Hey Sherry, thanks for joining. I appreciate your support! Hope you find the videos helpful

@sengsavang6499 4 года назад

Very clear and easy to understand, thank you very much. Your 6 min video is far better than my class teaching.

@AccountingStuff 4 года назад

Thanks mate I'm glad to hear it's making sense!

@josangloria2111 4 года назад

Love your videos. Simple and clear! Continue making videos

@AccountingStuff 4 года назад

Thanks Josan!

@sdwivedi27 3 года назад

Thank you for the clearest explanations ever. Will help a lot of Accounting students who I know.

@AccountingStuff 3 года назад

Thanks, hope you found it useful!

@sammievo3602 Год назад

I can't thank you enough for you making this video. I been struggled with which is debit and credit for a very ... long time. You explained so clearly. Can you kindly do more examples or video on accrual revenue? I am struggling with that right now. Thanks a million

@Jen8765_ 4 года назад

THANK YOU! You're so much easier to understand than the text book.

@AccountingStuff 4 года назад

No worries Jennifer!

@nsdeupanthak 3 месяца назад

Excellent queck reminders - short length of videos with full pack of contains, simply very effective!!

@AccountingStuff 3 месяца назад

Thanks :)

@jiteshahuja1201 4 года назад

Bro, the best thing I love about your videos are how you get direct into the point without wasting much time, and the way you explain your stuff. Good going mate 👍

@AccountingStuff 4 года назад

Cheers Jitesh, I appreciate the feedback!

@alishokrpour6180 2 года назад

thank you so much for your effort and hard work. everything is flowless.

@kiakim494 3 года назад

I finally understood. You really know how to explain. Thank you

@AccountingStuff 3 года назад

Cheers Kia, glad it's making sense

@bananoverlord6962 3 года назад

I'm getting better at accounting! It's a good thing i discovered this channel.

@AccountingStuff 3 года назад

Nice one!

@jaimiechen7034 2 года назад

Nice explanation. Examples help me understand as well.

@oiinahgiiusadurrybrahchuck7209 2 года назад

I’m doing a college course but using your videos as reinforcement. Thanks for the content! Have you done any of these problem question vids lately or more since this once? Very useful… Turns out I actually know stuff! Doesn’t always feel like it because although I can solve the problems I feel like I can’t articulate the general accounting process as well