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Double Entry Bookkeeping (part a)
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Where are the answers to the exercise after the samples in the paper?
At the end of the Course Notes – look at the contents page!
Totally amazing!!!.. . . . . .I am a helped human!
why does the video stops at times @Admin ??
Your Internet connection can’t keep up
each time i click on the watch i get an error code4004 what could be the roblm
sorry,i meant error code 404
your device does not have flash installed.. or does not support MP4 video playback
Thank you very much its helpfull and you,r lucture clear my concept my f3 paper exam is in feb 1 week
Thanks for the lecture. It is very helpful to learn accounting very easily.
For part J where $100 is withdrawn in the form of cash, is it still correct if we DR the capital a/c instead of the withdrawals a/c?
@ahmedqayyum, No – drawings must be kept separate from capital.
@johnmoffat, So we’re treating Withdrawals as an expense?
@ahmedqayyum, No – withdrawals are never an expense. Expenses appear on the Income Statement – drawings never appear on the income statement.
On the Statement of Financial Position, you show the amount owing to the owner as capital at the start of the year, plus any profit, less any drawings. That ends up giving you the capital at the end of the year.
However, you cannot simply debit the capital account with the drawings because you must show the capital at the start of the year and the drawings separately on the Statement of Financial Position.
If you watch the remaining lectures for this chapter then it is made clear, and explains how at the end of the year then you do transfer the balance on the drawings account to the debit of the capital account (but only at the end of the year).
@johnmoffat, Ah ok, that makes much more sense!
Thanks for the help!
@johnmoffat, you are welcome
i am really thankful from Opentuition.com and specially from wonderful lectures, and hope that be free for ever.
Open tuition is very helpful when you have a full time job,you can study anywhere anytime…thanks a lot to all the open tuition crew.
Thanks a lot. After reading Kaplan, this lecture was really helpful to understand T account.
Great,
can I suggest, you watch lectures first and then check with the study text if you don’t understand or want more details..
I knew this so well in a-levels, until my acca F3 lecturer made me so confused!!!
Now I remember!!!
Great Lecture!!!
refreshing my memory,very helpful as i now tackle P2.thanks OT
i am really very interested in away the notes conducted
i am really veiry happy with open tution because i learned after i registred my name with open tution
really helpfull made accounting very easy…. i love opentuition
good….
Very helpfull I really like this teaching style
I like it very much thanks a lot
there is a small mistake, sample 3 is on page 16 not 6
very good thank you very much
very usefull thanks
Thank u very much, very helpful and good teaching.
superb way of teaching DATA ENTRY BOOK KEEPING !!
Thank u very much opentution and i will like to thank all the staff.
Have started to love accounting ! beautiful .Thanks a lot !
amazing explanation…………..God bless u
have a question: when withdrawals in form of cash is made the accounting entry is CR Cash, DR Withdrawals. What is the accounting entry when withdrawals is in the form of goods?
@onyxera,
The Entry will DR. Withdrawals CR Purchases
really great n well explained….thank you lecturer..:)
need some help on CAT….do any one out there can help me……
For once im begining to enjoy accounting………..You’re
a good teacher
very good teaching
WOW WOW. I AM REALLY ENJOYING THIS LECTURE SIR. THANK U SOOO MUCH:)
Thanks for the resources the site is unleashing to us all students. You for sure make our studies somewhat easy to understand. Keep up the good work.
i cant believe this is so well explained….there is no doubt that every has understood this…really amazing,hats off to you sire….
well explained..
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very very goooooood
help full
loud and clear sir………
better than my lecturer with this topic 10/10
good teaching…well explained
veryyyyyyyyy goooooooooood