FA21 - Completing Bank Reconciliations - The Journal Entries

Поделиться
HTML-код
  • Опубликовано: 12 сен 2024
  • Go to: www.accountingw... to download the problems.
    If you'd like to become a member an gain access to over 100 "Members Only" tutorial videos found on www.accountingw... - click the join button or click this link: / @tony-bell
    Module 4 examines bank reconciliations. We learn to prepare, interpret and record the journal entries related to journal entries.

Комментарии • 61

  • @chillymilly7523
    @chillymilly7523 3 года назад +48

    I've watched quite a few of your videos. Currently taking accounting 101 at college. You've been a tremendous help in simplifying accounting. Also, your stories are precious and unintentionally encouraging.

    • @PunmasterSTP
      @PunmasterSTP 2 года назад

      How did the rest of accounting 101 go?

    • @hadi-music4772
      @hadi-music4772 11 месяцев назад

      Agreed, this guys going to help me get scholarshipssss

  • @jillianlinn2676
    @jillianlinn2676 3 года назад +13

    When you say stuff is easy it makes me feel like OK I can do this and if I find it challenging I tell myself I can get there! But that is just my POV :) I also love how your tone always sounds so positive like there is always a solution, and how you simplify everything by putting it into real-life examples.

  • @triz9420
    @triz9420 2 года назад +9

    You're the clearest when teaching accounting, I failed my past accounting class and going thru it again, thinking I couldn't and especially learning it in this online setting, but your videos make it not intimidating which gives me hope that I can understand accounting. thank you for this free lesson!

  • @jordanrose6667
    @jordanrose6667 Год назад +1

    Not too easy… not too hard… but just right. Spoken like a true teacher. God bless you

  • @azizahmadfarewar2662
    @azizahmadfarewar2662 3 года назад +7

    Dear Respected Sir, Thank you for such an informative video. Stay healthy!

  • @user-jp3ep7be5x
    @user-jp3ep7be5x Год назад

    Im SOOOOO THANKFUL I found you!! I'm currently struggling in my Financial acccounting 101 class and your teaching style is so enthusiastic and easy to follow. Thank you so much for making these videos Tony!

  • @roseb.5367
    @roseb.5367 11 месяцев назад

    4 years ago you used next years date 😊... amazing... and here we are consuming your videos and passing tests and exams❤😊

  • @learnwithme2525
    @learnwithme2525 Месяц назад

    really great way for explaining bank reconciliation

  • @dale2319
    @dale2319 3 года назад +2

    Your videos Saved My Semester!! THANK YOU SO MUCH!!!

  • @nilukadesilva4771
    @nilukadesilva4771 2 года назад +1

    You are an Amazing Lecturer. I’m so glad i found your channel ❤️❤️

  • @michaeldwanemagtibay
    @michaeldwanemagtibay Месяц назад

    walter white asking skyler where the money is. by the way great video on bank reconciliation was really helpful.

  • @hadihashi3935
    @hadihashi3935 4 года назад +2

    thanks for your helping I become member twice becouse I'm learning cima and i got nice lesson here fac and managerial acc

  • @shenelldavis6491
    @shenelldavis6491 29 дней назад

    Thank you Tony. This was a great video.

  • @carmenmontoya9694
    @carmenmontoya9694 Год назад

    Your explanation of the journal entries was outstanding thank you

  • @AjaySingh-zc8xw
    @AjaySingh-zc8xw 4 года назад +7

    Loved your story ! hahahahahah

  • @ShimaHm-q9k
    @ShimaHm-q9k 6 месяцев назад

    Wow. Amazing. Thank you so much for the wonderful explanation. 😊

  • @lolitalolita3472
    @lolitalolita3472 2 года назад +3

    You are such a gem :) Thank you!

  • @InJG
    @InJG 3 года назад +2

    perfect video for me! Thank you so much!!

  • @dezzy151
    @dezzy151 Год назад +1

    Thanks. refreshing for a possible job interview!!

  • @hadi-music4772
    @hadi-music4772 11 месяцев назад

    LOVE YOUUUUUUU SO MUCH BETTER THAN ANY COLLEGE PROF I'VE GONE TO FOR HELP

  • @troyster28
    @troyster28 3 года назад +2

    HAHAA "oh gzzz this is bad". Bro why are you so funny.

  • @karanraval4327
    @karanraval4327 Год назад

    It helps a lot thanks very much very good teaching

  • @HD-xh3fk
    @HD-xh3fk 2 года назад

    Hi Tony The the beginning balance for June 1, 2024 of the cash account will be $16,707 after reconciliation.

  • @user-yd4rk4sd3i
    @user-yd4rk4sd3i 4 года назад +2

    I FOUND IT SO DIFFICULT ... BUT THANK YOU .. I WANT TO ASK YOU TO PROVIDE TAX ACCOUNTING COURSE OR RECOMMEND ONE

  • @ismailismaili0071
    @ismailismaili0071 4 года назад +1

    I'm so excited to see what account have you credited for $18

  • @esthercalderon2818
    @esthercalderon2818 6 месяцев назад

    God bless you just watched it once got a 100 on my quiz!

  • @MybelovedMichael
    @MybelovedMichael Год назад

    Thaks Tony you make difficult things looks easy

  • @siennalee5651
    @siennalee5651 2 года назад +1

    Hi Tony, your videos are always very helpful! I just have one question, why don't we debit Accounts Payable instead of Utilities Expense / Telephone Expense?

    • @PunmasterSTP
      @PunmasterSTP 2 года назад +1

      I think the reason is because the electronic funds transfer (EFT) represented the bill actually being *paid*, not just the company being sent the bill.

  • @leylaisgandarova4001
    @leylaisgandarova4001 3 года назад +1

    AMAZING!!! You are great !!

  • @pawandeepkaur7781
    @pawandeepkaur7781 4 года назад +1

    Thank you so much......god bless you

  • @Julia-qw4md
    @Julia-qw4md 2 года назад

    This is really helpful!

  • @chocym4965
    @chocym4965 4 года назад +2

    you are so cute and you look like a Dutch. Great learning videos from you! Thanks for sharing.

  • @medhavikosta3889
    @medhavikosta3889 4 года назад +1

    NFS cheque by white bounced off, he deposited that cheque to our bank to make his payments, so why does it appear under withdrawals in the bank reconciliation and not deposit ?

    • @vicki-arpgaddict5425
      @vicki-arpgaddict5425 3 года назад +2

      That cheque bounced meaning he didn't have the money to pay for the check. So the bank withdrew that check making it a withdrawal.

  • @ismailismaili0071
    @ismailismaili0071 4 года назад +1

    finally I have got it thank you so much I just screwed up hhhhh

  • @AbigailMhango-vb8dx
    @AbigailMhango-vb8dx 11 месяцев назад

    Is there any different calculating bank statement and reconciliation statement in management accounting please help I don't understand it?

  • @SharanSalwahan-em7cs
    @SharanSalwahan-em7cs Год назад

    Thank u so much sir

  • @TheChloehan28
    @TheChloehan28 2 года назад

    Hi Tony, Thanks for the video. I am confused on No.7. If we credit A/P, does it mean it increases the A/P when it’s already overstated?

    • @hyejinlee9722
      @hyejinlee9722 Год назад +1

      We overpaid AP for $18 so we need to increase AP as we correct the error.

  • @BeCuriousPodcast
    @BeCuriousPodcast 6 месяцев назад

    In the first NSF cheque journal entry.Given that the bank statement stating that it has been on withdrawal instead of Deposit, "isn't it a case where we are paying someone using a cheque?" please help me understand this!

    • @Tony-Bell
      @Tony-Bell  6 месяцев назад +1

      Here's a summary of what happened: W. White gave us a cheque for $600 - we deposited in our account (with some other cheques at the same time). DR Cash 600. The bank put the deposit in our account (although it restricts the funds until the cheque clears, it does put the amount into our cash). The cheque didn't clear and the bank took the $600 back out from our account. That's where things sit...

    • @BeCuriousPodcast
      @BeCuriousPodcast 6 месяцев назад

      makes sense Tony, appreciate you getting back to me!@@Tony-Bell

  • @sahilkhosla5032
    @sahilkhosla5032 3 года назад +1

    tony can you explain this nsf cheque thing because in bank statement it is written on withdrwal side so i what thinks that the company has signed a nsf cheque and it bounced so please cross check this .

    • @PunmasterSTP
      @PunmasterSTP 2 года назад

      I was going to reply to your comment with my own explanation, but I saw an already awesome explanation from Vicki - A RPG Addict several comments down. This is it:
      That cheque bounced meaning he didn't have the money to pay for the check. So the bank withdrew that check making it a withdrawal.

  • @kkkkk393
    @kkkkk393 7 месяцев назад

  • @faheemsario1038
    @faheemsario1038 3 года назад +1

    Great wir

  • @LenaSlavova
    @LenaSlavova Год назад

    Hi professor , so what do we have to do if a cheque has not been included with the cancelled cheques that have been returned by the bank? Which side would it go to and is there journal entry for it?

    • @Tony-Bell
      @Tony-Bell  Год назад +1

      If I'm understanding correctly, it sounds like this is an outstanding cheque - so no entry, but included in the OS Cheque list.

    • @LenaSlavova
      @LenaSlavova Год назад

      @TRUTonyBell I apologize if it didn't sound understandable. What I was referring to was a NSF cheque

    • @LenaSlavova
      @LenaSlavova Год назад

      @TRUTonyBell so basically what would the journal entry be for a NSF cheque ?

    • @Tony-Bell
      @Tony-Bell  Год назад +2

      @@LenaSlavova If we wrote an NSF cheque, we would want to reverse the entry from the cheque, so for example, if it was a cheque to pay an AP, when we wrote it, DR AP, CR Cash. Now to reverse it - DR Cash, CR AP

  • @raiboy4494
    @raiboy4494 2 года назад

    nice vid

  • @vi49204
    @vi49204 8 месяцев назад

    i wish i paid 2000 euros to you instead of my univ :'|
    thank you!

    • @Tony-Bell
      @Tony-Bell  8 месяцев назад

      ME TOO 😆 - Good luck in your course 😀