Accounting For Beginners #15 / Journal Entry With Cash / Revenue

Accounting For Beginners #15 / Journal Entry With Cash / Revenue

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

81 thoughts on “Accounting For Beginners #15 / Journal Entry With Cash / Revenue

  1. I failed accounting twice in school but your series of accounting basics in 1 day helped me actually understand principles and the basics. PLSPLSPLS post videos for closing accounts, amortization, how to do income statements, trial balance, t accounts etc. ALSO more powerlifting 🙂

  2. I was so fucking lost when i learned that expenses were debited and revenues were credited and I was stressing so hard, after all these videos i feel like a boss at it. thanks a bunch you beauty

  3. thank you so much..only u can help me!!i dont understand accounting equation and also accounting statement analycis..plz help!!

  4. First of all, Thank you so much for your amazing video ~ I am studying accounting again (did not touch it after university) to get a job from an audit company and this time it gets a lot easier thanks to you

    I just have 1 question ~ We all agree that A = L + E and Balance sheet is made of A, L and E. As your example in the video the cash (Assets) increased as Debit and the Revenue also increased as Credit. But Revenue is not belong to the Balance sheet and that would made A=L+E wrong (A increased ~ but the other side of equation is R not L or E). How do you connect between the balance sheet (where A increased) and the income statement (where R increased) then ?

    I have heard of something called Retained Earning (or Income) which goes to Balance Sheet from Income Statement but still didnt get the idea. Could you please explain it for me ?

    Sorry for the long post ~ Hope that you understand the question ~

  5. You have no idea how suddenly things are starting to make sense to me accounting. you're an excellent teacher – making accounting simple and funny requires serious teaching skills ; )

  6. I haven't even started my classes yet and I feel that my strengths are going to be strong once entering the course in April. Thank you so much I truly understand the whole DC ADE LER. You're awesome!

  7. OMG…..your making me crack up sooooo much as im studying for a new job where i havent used some of these concepts in 15 years….making this soo much less painless.

  8. I love your lessons but you kinda seem like you are on steroids or some kind of stimulant drug. Please take care of yourself. Thank you for these lessons. They are very helpful!

  9. Hi there CPA Strength, I don't usually comment on youtube but I just gotta say I love your style and enthusiasm. I'm currently getting back on 2 lost years of accounting in college and I want to say that you're making everything much easier and enjoyable. Love the series, thank you and keep having fun putting these out! Peace! Cheers all the way from Romania!

  10. its good and easy to absorb. I save your video from 1st to last 💪. thank you for sharing your knowledge. 💪

  11. You're the proof that if you have a fun and good teacher, a subject like accounting can be fun to learn for anybody. Thank you man, you're really helping me review for my finals! Really appreciate it. And continue working on those arms, im not so impressed Brah!

  12. I have never enjoyed tutorials, until now. I cant stop watching your videos, comedy and education….Thank You for taking time to make these videos😂😂😎👍

  13. I love, love your teaching and how you add life to it!!!! …just could do without the f*bombs…just some honest, friendly feedback.

  14. Man…. THIS playlist has helped my dumbass so much. I am going to get a company off of the ground and all I have mastered is the field work but getting my license will require a business portion also . Your videos have made me more comfortable in conversation as well. THANKS A MILLION TIMES OVER

  15. If we have $500 leaving the business, and we put it on the credit side, are we required to put a negative sign next to it to signify its leaving, or will putting in the right column already signify that?

  16. Your videos are great. I am confused why $$ coming into a company is considered debt? Understand its an Asset, but
    maybe its the term that is confusing me. A debt for the company who is sending us the $$ is a debt for them? Maybe I just need to change my terminology and thinking of positive and negative. But again, your very good at teaching.

  17. Your intro to this video is hilarious lol. I am currently reviewing all of your videos for my Acct 101 Unit 1 test coming up in a few days. Thank you for all that you do.

  18. "YO, WHAT THE FUCK IS CRACKING!?" – I wish all accounting teachers spoke like this lmao
    Much love CPA Strength

  19. love it!!!! thank you for making it easy for people with minimal help or cash to enrol for such financial knowledge 🙂 strongest and kindest CPA 🙂


  21. CPA man, you are the reason I just did well on my last exam.

    Ignore any negative comments you get cuz you know those people are out there. Do you brother!

  22. I like the pace so far it's not too fast. And the swearing is fine in real life most people talk like that.

  23. Dude thank you for your videos.. I am just beginning my accounting degree.. I would LOVE to see more videos like this. If you could demonstrate a journal entry with several different scenerios. Such as what you've demonstrated for 500 dollars. On an actual spreadsheet Does that make sense?? Lol

  24. I just wanted to thank you so much for your videos because I am taking an online bookkeeping course and I am falling asleep at this point because I had been following what was being taught and somewhere along the line I got off track and I'm not getting what's being taught. I don't want to give up I want to complete this course. your videos are very helpful and I too dig the f bombs.

  25. The F bombs are actually kind of annoying to me. It's like, I'll say it cause I can not because it truly fits into the context of the statement of situation. We use to do that in jr. high when our teacher walked out the room. idk, I guess I grew up

  26. #15 and i finally understand. at 4:10 when u "we need a credit." so when u earn money aka asset, u switch to the other side under credit and put that monet toward either L, E or R. i never thought of it like that till now. now i get why u record that same number on both sides

  27. I love your videos and your attitude and the fact that you keep showing your pipe bombs lol but I would really appreciate it if you wouldn't swear on your videos👌🤐

  28. Thank-you very much for your videos; I've learned a lot!

    I've been trying not to be too critical but the language has been really hard to deal with. If you ever do a beginner's accounting course or video playlist that's family friendly, that would be really cool. There are a few people I'd probably share it with.

    Thanks again and have a blessed day!

  29. I feel like i don't get it, but:::: So the revenue of 500 comes in. Then it gets moved to the other side as an asset, and then we are good?

  30. Love the videos, BUT can't watch with my kid around, so that is hard, I think the videos could be JUST as awesome without the F Bombs…… Just a thought. Love him though, very helpful. My school would recommend more but language is an issue. KEEP RECORDING

  31. I’m a bit late, graduated 2018 from high school and just joined summer 1 accounting class and holly fuckkkk!!! I was pretty darn lost with all this debits, credits, a/p, a/r and so on. Basically a 16 week course crushed and fast paced and turned into 6weeks for summer so yeah I’m that fucken lost lol but thanks man!! For sharing all of this helpful information and I enjoy watching these accounting videos you make it fun and I actually learn something in every video!!

  32. This is tough because having an MBA I found your videos great as refreshers and they introduced another angle of learning accounting from myself being a non-accountant by profession. This is difficult because I want to refer my friends, students, etc. to your videos, but because of the f-bombs, it does not demonstrate professionalism. I learned from one of your sessions you have a company and it was picking up and kudos to you, you have a great thing but I think you should remake some of these videos and remove the profanity. I'm surprised because in business you should never publicly use profanity, especially with a business. Hopefully, future videos you can refrain from using profanity and it would increase your subscriber retention and additions. The first couple of videos you had 2.4 million views and then it decreased to under 100,000 views and still declining. I believe if you edited your videos and labeled them with a title identification as non-explicit it would revive your channel… or even release an updated set of videos asking viewers in a survey monkey or Google Forms what they liked and disliked, you could build this to be something great again and it could be useful for all ages. I apologize if this is offensive, I'm just trying to help because your DC ADE LER, your pace, and personality is awesome and memorable which is what you need in marketing, and the examples you use are also great learning tools. Good luck!

  33. I love the information in the videos; however, you could tone down the language women are watching. Thank you.

  34. I've been binging your videos tonight and I feel like you've done more for my understanding of accounting than any textbook ever could.

  35. So you credit the $500 to a revenue account? I don't really see why you credit(leaving the company) something the company made. Or is that revenue going to salary, shareholders etc?

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