Helllo sir, can the man in the video start doing accounts from the beginning, like for example, what is balance sheet, how to work it etc? It would be very much appreciated and helpful. Also does he have his own RU-vid channel? If not can he start one please?
This is really helpful and understanding ............ I would implore you to do more videos like this because they are what I will watch to help with my exams coming up.
hello sir, i think [vi] is incorrect because my teacher said since loan in the question has small figures it would be a short term loan to be paid off easily. If the figures were high like 10,000 or so it would a long term loan. So therefore , you would add loans to account payable to be subtracted from the current assets and the second column would be 16550 - [7025] = 9525
Would not recommend you to do this. I was taught that of the question doesn't specify the type of loan in the question, it is automatically classified as long term. Additionally, there would have to be a limit (lowest/highest value) taught for long term and short term if this was so.
11:58 No you will not get full marks😂 Your calculation is off by $50, the total for the current assets should be $16,550 then 16,550-1625= $14,925 That will give full marks
