Im currently doing a University course in Accounting online. Lectures are very brief and reading notes on my own very intense. Your videos have helped immensely. Breaking it all the down the way you do, rewinding it many times so I get it, is gold. Thank you for making videos like this.
i did my bachelors way 2019, currently about to go for Msc only to discover i have forgotten alot about the field because i haven't practiced since i graduated. i searched online on tutorials for basic accounting guide videos and i found this channel, thank you so much for giving us this tutor it really help revived some basic back in me, gracias!!! please more advance tutorials would be appriciated even if its once in a week thank you thank you thank you!!!
These videos are so helpful! I'm taking an accounting class and my professor doesn't actually teach anything, so I'm having to watch so many youtube videos to try and figure out what all this means.
Currently, I'm taking up BSA program, 1st Year, and this kind of videos really helps me in practicing my current knowledge about this topic. Very thankful to you sir in uploading this kind of contents. Hope to watch more videos like this. Once again, THANK YOU VERY MUCH!!!!
where i get confused is when I look at cash and operating expenses, they are both the same to me. Cash is changing from one place to another why would it not be cash?.
For the second problem why is 'wages payable' not the best option. It's liability, we pay our employee so wages payable decreases and liabilities debit when they increase so this account should be debited. And it's more specific to this problem than operating expenses, in my opinion. Can you please explain why isn't this correct?
Wages payable is owed to the workers but not given to them yet. Since the employer is paying this one in Cash it will credit the Cash account and debit the Operating expenses. Thats how I understand it. Could be wrong though
Not necessarily. This case you’ve mentioned can only be possible it an employee has earned a wage within a certain month but has been told by the firm that he will be paid later (at a time agreed by both parties). In that case when that transaction happens, the wages payable would be affected together with cash
