Video instructions and help with filling out and completing Will Form 5495 Accounting

Instructions and Help about Will Form 5495 Accounting

Yo what up CPA strength back for another video lol Oh what is my Syria what the fuck's my sphere is called accounting for beginners this is number 17 this one we is going to do t up counts I've been getting a lot of questions on T accounts so that's why this video is coming out so drop a question down there in the comments if you want to see something another video I write them down I read all the comments are all the questions for videos on my phone and then you know if we get like three or four or five or six I don't like all I'm gonna make that video first enough about that this one is T accounts side note I never understood two accounts how they were taught in the books how I learned it in school and it's day one stuff so I really think that that's a reason why I totally struggled all through college so I didn't learn this deep my DC Aylor I didn't learn that until studying for the CPA exam after college the t-account is like day one stuff and I didn't know it that's why I've struggled so you I just needed I think you need to know the basics front back left right T counts is like beginning it's like day one stuff so I want to show you that you don't need to use T accounts you know maybe on your test you might have to do a t account but if you write down a scratch sheet of paper doing your homework or test or quiz DC aid ler and write out what they mean you're going to be fine on the T accounts so let's get into this T accounts uh I feel like I have a pen in my hand or something to point I don't know why I see account at the basic level is an account title and you know the account titles I guess the the map ol we know is either going to be an asset a draw and expense a liability equity or revenue and if you see here on DCA ler these are those are the same accounts Asset draw expense liability equity revenue and now this is an it's got a left side and the right side the t-account does and debit is always left hand side credit is always right hand side I forgot a parenthesis over here don't hate and that's also with my DCA ler now if you notice mmm they call it a t account because looks like a t mine the DCA blur you know is it there's a t account as well wow that was exhausting doing this as the T counts now I got a book so I cheated so hit because I wanted I wanted to have exactly what you know they're teaching classes or what you know how the masses learn it but mmm show you right here there we go so that is like 57 of this book page 57 in this book uh I got it off Amazon for $10 used I don't not really sure what year it is but I believe this debit and credit system of accountings been going since like the 1400s so I think we're good for five years you know like I think a five year old 10 year old basic accounting book is going to be fine not much changes with the debits and credits they've been left and right for 700 years so or 600 whatever so what was that what did I do now but I show you that that's the T accounts oh this is this is in the book this is white how you learn to count in school this right here shows the same thing as this dc-8 ler although how you grow this when you're starting off and to write the down to scratch piece of paper is going to take forever this just how they teach in school just doesn't compute with my brain if this works for you then by all means do it this is what works for me but I'm going to show you it's the exact same thing as a t-account so DC a lor is the next same thing let's just start through with the T counts now these are this is these are how the account these are the accounts you see as before every k every kind as a title devon credits always left titled Democrat titled Democrat title Democrat title Democrat title Democratic what I like to do DC a blur is just right debit and credit at once instead of a three four six different times and that's just me let's see if everything makes sense DC idler to the book asset debit side goes up credit side goes down DC Aylor asset debit positive debit up credit down works liabilities credit up debit down DC Taylor DC lure liability up debit down I am sorry I use it like interchangeable like positive and negative and up and down for the debits and credits I know I might be a little confusing but I just wanted to do how they have it in the books and then this is kind of my style now you can do whatever you want you can think that these are the up you know these are the up positions and not a positive and negative you what the you want to do okay let's get it the third count we're going to look at owner's equity up credit positive credit down debit equity yes positive credit down debit let's look for the owners drawing to count credit down debit up GC Aylor draw debit up credit down positive negative let's go to revenue t account cut it up debit down revenue dc-8 ler cut it up or positive debit down or negative