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September 30, 2022 at 9:02 pm
I really appreciate your lectures, the way you teach is really detail and understandable. I think not only me but other people who watch your video finds it really helpful. Thank you a lot for all the knowledge that you bring to us ?
John Moffat says
October 1, 2022 at 7:20 am
Thank you for your comment 🙂
August 7, 2022 at 10:11 pm
Thank you for the well detailed teaching.
Sir, Please must purchases, rent capital, payables, receivables have different account?
August 8, 2022 at 8:42 am
Yes – they mush have separate accounts.
May 18, 2022 at 6:17 pm
Hi Mr Moffat, I hope that you are well.
I was wondering why the inventory/purchases were not credited were sales were made by Kristine?
This is what I did to account for the sale of inventory. How is it wrong?
DR Bank 500
DR Payables 600
DR side: Bank 500 and Payables 600
CR side: 550 COS and 550 COS
Cost of sales account
DR 550 Inventory 550 Inventory
March 5, 2021 at 4:33 am
Dear John Moffat,
Thank you for lecture, quite enough helpful to understand topic.
Could you please correct me if I am wrong for section of two or more errors’ opposite effect: There is 1800 credit balance, not cancelling out (net effect is not zero)
February 13, 2021 at 3:08 am
Hi, thanks for the lecture always.
I have one question why not all accounts are balanced?
For example, capital account’s debit and credit is remained as not balanced (same thing to car/ rent/ drawing).
February 13, 2021 at 8:51 am
As I explain in the lectures, if there is only one figure on the account then there is no need to strike a balance separately – the one figure is the balance.
February 5, 2021 at 9:44 pm
thank you for your great work. in the example where net effect of two or more mistakes is zero, i am wondering if the sales is supposed to be 1600 instead of 3400. or may be i am on the wrong side
February 6, 2021 at 9:50 am
The sales are 1,700. If they were entered on the wrong side then one side would be too low by 1,700 and the other side would be too high by 1,700. That would make one side higher than the other by 3,400.
February 8, 2021 at 7:41 pm
thanks for your reply
January 25, 2022 at 7:48 pm
Good day Sir. I have the same concern with ADINIGHT. I read your reply but my concern remains. For the trial balance of the Sales, Cash and Car accounts given in the example at 20:38 minutes of the lecture to have a net effect of zero, the sales account should have a Credit balance of 1 600 instead of 3 400.
With a 3 400 credit balance, the trial balance for these three accounts does not have a net effect of zero:
Cash 1 500
Sales 3 400
1 600 3 400
If we consider the example as part of the previous exercise, the net effect of the trial balance wouldn’t still be zero.
October 10, 2020 at 2:45 pm
Thank you very much sir.
August 10, 2020 at 11:12 pm
Can’t imagine how difficult it is for accountant to figure out an error in thousand of accounts.
terrifying isn’t it haha
April 15, 2020 at 8:43 pm
February 10, 2020 at 1:13 pm
“They asked me to check the trial balance, this is before calculators. It shows how old i am” XD haha..
Thank you for being passionate enough to lecture us on accounting sir. Though not many people comment their thoughts. You have the gratitude of many people for these lectures and the assistance on Forums.
February 10, 2020 at 2:51 pm
January 10, 2020 at 10:16 am
Capital was 5000 but she withdraws 100, so in Trial balance capital should be 4900 ? but in your lecture it says 5000
January 10, 2020 at 10:27 am
sorry understood my mistake.
January 10, 2020 at 3:16 pm
I am pleased that you now understand it 🙂
September 2, 2019 at 2:08 pm
All very usefull modules for 1st time study.
September 2, 2019 at 3:48 pm
August 21, 2018 at 4:28 pm
They are both explained in later lectures on control accounts.
The lectures cover everything needed to pass the exam well, but it is not possible to cover everything in one chapter 🙂
August 21, 2018 at 12:40 pm
how are purchase return and sales return
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