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Double Entry Bookkeeping (part b) – 27.50 minutes in

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Double Entry Bookkeeping (part b) – 27.50 minutes in

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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  • January 3, 2016 at 9:21 pm #293373
    robmeggs
    Member
    • Topics: 2
    • Replies: 8
    • ☆

    Hi John,

    Firstly thank you for providing this brilliant free service.

    Secondly, I can follow the whole video named above until you get to 27 mins 50 secs where you are tidying up the owners Capital, Drawings and Inc Stat accounts. I understand the need to get back to the figure $5,300 as that is the amount the company owes the owner, but why do you credit Drawings $500 but only debit Capital $100?

    Thanks Rob

    January 4, 2016 at 8:05 am #293390
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    I don’t. If you watch again carefully you will see that I am simply illustrating the sort of mistake that the bookkeeper might make.
    In later lectures we look more at various mistakes and how to correct them, and the sort of questions that can be asked on this.

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