yo what the fuck is cracking by counting people's cpa strength back again with
another fucking video are right strongest cpa Florida make all kind them
off on gains make all kinds of gains this is basic accounting for beginners
number fifth teen have 14 previous videos for coming for beginners you can
play notice up above a little thing and need that the playlist
also this one number 15 is an extension of number 14 they go in order so i think
that's you know why they're numbered in order
they kind of going certain order sometimes the next one doesn't help you
on the previous video for number four number 15 this one will
it's an extension of 14 unfortunately a journal entry with cash and expense and
this one is 15 we're going to do a journal entry with cash revenue i also
wanted to say that you know the channel is getting so many comments so many
likes and it just really makes my day makes me want to make more the fact that
I'm helping people trust me if you would have told me eight years ago when i
started going to college for cutting that I would be teaching people counting
on the internet our said you're fucking nuts
hopefully I'm getting better at these videos i think it's just practice as I
always preach practice practice practice reps reps that's what i'm doing here
just like I'm always practicing I'm always telling you to practice this
accounting stuff because it's just wrapped up strips the more you do it the
easier it will be
anyways let's get into this problem basic accounting for beginners number 15
journal entry with catch revenue boom you get this on test
your company gets paid five dollars for services performed write a journal entry
for that
what'd he do well luckily right when your test was handed out you wrote down
DC aylar on your scratch paper and depending on where you are you wrote out
what the what they all stand for like this you already wrote this down on your
scratch piece of paper so you already have this debit/credit asset drugs and
liabilities equity revenue so let's do this shit right
this I go I kind of done this a million times so i would just like this a debit
and credit i would see this and says your company gets paid five hundred
dollars for services performed i would probably breaking after here let's think
about this
I always like to do the catch first because moisture on journal entries have
cash involved and you can get half of it done right here like in this example we
are getting five hundred dollars we have five hundred dollars and a positive
amount we have cash coming into our business
ok what is what is cash cash is an asset and we have that in a positive amount
for five hundred dollars so there's her so there's our debit $500 catch great
now we've already got we've already got half of the journal entry done with just
using the cash just know where the cash is done
what's going what's going to be our credit fine people what do you think
it's going to be I bet a lot of you already know that's worked together so
much find straight to work this together
let's go so you paid for services performed we need a credit so it could
be any one of these but it could also be a negative one of these so it doesn't
services performed you get money for services performed that's revenue
I mean straight up that its revenue nine out of ten transactions with money
coming in to the bank account is going to be revenue most the time you get
money at your business it's for services performed as for revenue so revenue and
positive amount and think about how we're going to have a revenue and a
negative account that many times
same with expenses you have a positive revenue
where is that going to go revenue positive there we go there's your
journal entry folks debit 500 cash credit 500 revenue
there we go until I see you again