FA21 - Completing Bank Reconciliations - The Journal Entries
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- Опубликовано: 12 сен 2024
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Module 4 examines bank reconciliations. We learn to prepare, interpret and record the journal entries related to journal entries.
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.
How did the rest of accounting 101 go?
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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.
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!
Not too easy… not too hard… but just right. Spoken like a true teacher. God bless you
Dear Respected Sir, Thank you for such an informative video. Stay healthy!
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!
4 years ago you used next years date 😊... amazing... and here we are consuming your videos and passing tests and exams❤😊
really great way for explaining bank reconciliation
Your videos Saved My Semester!! THANK YOU SO MUCH!!!
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walter white asking skyler where the money is. by the way great video on bank reconciliation was really helpful.
thanks for your helping I become member twice becouse I'm learning cima and i got nice lesson here fac and managerial acc
Thank you Tony. This was a great video.
Your explanation of the journal entries was outstanding thank you
Loved your story ! hahahahahah
Wow. Amazing. Thank you so much for the wonderful explanation. 😊
You are such a gem :) Thank you!
Glad I could help!
perfect video for me! Thank you so much!!
Thanks. refreshing for a possible job interview!!
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HAHAA "oh gzzz this is bad". Bro why are you so funny.
It helps a lot thanks very much very good teaching
Hi Tony The the beginning balance for June 1, 2024 of the cash account will be $16,707 after reconciliation.
Corrrect!
I FOUND IT SO DIFFICULT ... BUT THANK YOU .. I WANT TO ASK YOU TO PROVIDE TAX ACCOUNTING COURSE OR RECOMMEND ONE
I'm so excited to see what account have you credited for $18
God bless you just watched it once got a 100 on my quiz!
Congrats!
Thaks Tony you make difficult things looks easy
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?
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.
AMAZING!!! You are great !!
Thank you so much......god bless you
This is really helpful!
you are so cute and you look like a Dutch. Great learning videos from you! Thanks for sharing.
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 ?
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.
finally I have got it thank you so much I just screwed up hhhhh
Is there any different calculating bank statement and reconciliation statement in management accounting please help I don't understand it?
Thank u so much sir
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?
We overpaid AP for $18 so we need to increase AP as we correct the error.
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!
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...
makes sense Tony, appreciate you getting back to me!@@Tony-Bell
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 .
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.
❤
Great wir
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?
If I'm understanding correctly, it sounds like this is an outstanding cheque - so no entry, but included in the OS Cheque list.
@TRUTonyBell I apologize if it didn't sound understandable. What I was referring to was a NSF cheque
@TRUTonyBell so basically what would the journal entry be for a NSF cheque ?
@@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
nice vid
i wish i paid 2000 euros to you instead of my univ :'|
thank you!
ME TOO 😆 - Good luck in your course 😀