Tell me why I go to a university and sit through lecture after lecture and get absolutely nothing out of it. Then I look on RUclips, watch a few videos, do a few examples and BAM!!!! I'm a fucking genius? Thank you so much sir. Wish you were my college professor for accounting.
+Mike E ... This is exactly how I feel. Accounting textbooks take you through so much drama. This is bite sized and to the point. I feel like all his videos taught me more about accounting than the $200 paperweights we have to buy.
I get an a-hole teacher his semester, she rushes over everything and seems we already know everything. I paid tuition fee actually have to learn from RUclips
After 9 years I am watching this video before a week from my final exam , just wanna thank u it was a complex lesson to me but you just explained in a simplest way
This professor is exemplary. He points out exactly what is needed to remember and know. I wish all my professors would follow his example. Excellent!!!
You are an excellent instructor! Just had my first Financial Accounting test, and this was the last problem set, and I tanked it! Luckily I know what I did wrong with your help;It's pretty basic.
You are an amazing instructor!!! God bless you and thank you for relieving my anxiety on a lot of accounting stuff that you have made so clear and easy to understand. 🙏😊
You are natural teacher mister, I watched hundreds of videos in RUclips but nobody is even close of you ability to explain clearly the topics. you should teach those people that post accounting videos how to expose topics. GRAZIE MILLE MISTER.
Thank you for the tutorial. So what I gained from this video: - Revenue, Expense and Dividend accounts are TEMPORARY accounts and we need to close them. To close them we either debit (if it's credit account like Revenue) or credit (if it's debit account like Expenses and Dividends) to net those account into 0. However, since the debit/credit action occurs, we need to credit/debit these amounts in somewhere else - The first way is to debit/credit thoss amount straight into the Retained account (note that this is a PERMANENT account => don't need closing). The final balance will be put into the balance sheet as Retained earning - The 2nd way is to debit/credit the amounts from Revenue and Expense accounts to an account called Income Summary. We then also close the Income Summary account together with the Dividend account and credit/debit the amount to Retained earning account.
that was amazing!! I am doing an online course and i am a visual learner! thank you so much for doing these videos. Thanks to everyone on youtube doing these videos!
Thank you so much. My teacher is way too scatterbrained to be teaching anything that has numbers or steps involved. He makes it so confusing but you just cleared everything up in no time! Hopefully I do well on this exam tomorrow, it'll be thanks to you lol
very good video. just a recommendation, zoom out after finishing your work so everything looks visible as just one piece at the end. thanks for the video!
wait did i miss something? at 7:30 why are we debiting Retained Earnings of 9,000 in the journal when just a minute ago we credited that total balance in the t account of Retained earnings?
Tell me why I go to a university and sit through lecture after lecture and get absolutely nothing out of it. Then I look on RUclips, watch a few videos, do a few examples and BAM!!!! I'm a fucking genius? Thank you so much sir. Wish you were my college professor for accounting.
+Mike E ... This is exactly how I feel. Accounting textbooks take you through so much drama. This is bite sized and to the point. I feel like all his videos taught me more about accounting than the $200 paperweights we have to buy.
Mike E that would be all of us my friend
@Mike E, I guess we are all visual learners :)
I get an a-hole teacher his semester, she rushes over everything and seems we already know everything. I paid tuition fee actually have to learn from RUclips
THIS!!!!!
It's 2021, and I am lucky to find this videos after 8 years later! Thank you so much!
Now 2022 ❤️
@@adarrashid Now 2023 From Egypt ❤
now 2024
After 9 years I am watching this video before a week from my final exam , just wanna thank u it was a complex lesson to me but you just explained in a simplest way
This professor is exemplary. He points out exactly what is needed to remember and know. I wish all my professors would follow his example. Excellent!!!
+Lola Surf ... Straight and to the point; no filler.
cant agree more!!!....i wish my lecturer follow his step
10 years later and these videos are saving me as I study for a midterm. Thanks for your contribution and the free education!
This guy is a life saver!!! Couldn't learn if from a book but after seeing this it just got so sooooo much easier thanks you!!!
This video just explained the meaning to life. Thank you so, so much.
thank you so much. Im relieved now, that "closing" was an obstacle for me. Now, everything is clear thank you
First best teacher of accounting I have ever come across. Thanks for helping us.
You are an excellent instructor! Just had my first Financial Accounting test, and this was the last problem set, and I tanked it! Luckily I know what I did wrong with your help;It's pretty basic.
You are an amazing instructor!!! God bless you and thank you for relieving my anxiety on a lot of accounting stuff that you have made so clear and easy to understand. 🙏😊
Great professor... excellent explanation.
After many years finds this videos...clear concepts.
Thanks and regard.
Larry, u r the best! Such a clear and simple explanation without all the mombo jumbo.Thank u!!!!
Larry .. God of accounting
You are natural teacher mister, I watched hundreds of videos in RUclips but nobody is even close of you ability to explain clearly the topics.
you should teach those people that post accounting videos how to expose topics.
GRAZIE MILLE MISTER.
All of your Accounting videos...are amazing! Thank you so much mister!
This video was very helpful. I have my accounting exam today and this was a great way to review closing entries. Thank you so much for this video!
Literally the most helpful channel I have ever seen on youtube... Thank you for helping me survive my accounting class!! :D
God bless you! i was trying to explain to someone and he was unable to understand, finally I sent this link, and he got it now.
Out of all the tutorials, yours is the best one. Thank you so much for doing this.
Thank you for the tutorial. So what I gained from this video:
- Revenue, Expense and Dividend accounts are TEMPORARY accounts and we need to close them. To close them we either debit (if it's credit account like Revenue) or credit (if it's debit account like Expenses and Dividends) to net those account into 0. However, since the debit/credit action occurs, we need to credit/debit these amounts in somewhere else
- The first way is to debit/credit thoss amount straight into the Retained account (note that this is a PERMANENT account => don't need closing). The final balance will be put into the balance sheet as Retained earning
- The 2nd way is to debit/credit the amounts from Revenue and Expense accounts to an account called Income Summary. We then also close the Income Summary account together with the Dividend account and credit/debit the amount to Retained earning account.
Ive spent 6 hrs figuring it out and this makes me happy, I understand this.
I swear this video cured my acne.
Method number 2 is what works best for me currently for my course.
Thank you so much!
THANK YOU SO MUCH! YOU HAVE NO IDEA HOW MUCH I NEEDED THIS! TY!
this is the best explanation , very clear and easy to understand.Thanks a lot
This part is confirming for me. Need more samples please!
Watched most of hour videos and lived it😘
thank you so much king
Thank you so much I watched about 3 other videos on this and this is the only one that made any sense to me. Thank you so much!
Please don't stop making videos😭
With your videos, you are able to help a student to fulfill the dream of becoming a CPA😍😭
We all got to hunt him and convince him to continue...he helped me tremendously.
You are the best professor! Thank you so much sir!!
The hazy cloud has been lifted by this video, thanks Mr. Accounting Tutor.
that was amazing!! I am doing an online course and i am a visual learner! thank you so much for doing these videos. Thanks to everyone on youtube doing these videos!
you sure are awesome teacher, Just want to say Thank you for your dedication.
2022, Accounting Tutor saving us, lol. My understanding of this just grew more. Thank you and I hope all is well with you.
You are my favourite accounting teacher... I don't know why teachers at the university don't explain and share their knowledge... and I paid a lot 🤔
the simplest explaination than my lect . u make it look so ez. thumbs up.
thank so much
thanks :)
That was Awesome. guess I'm weird but I love this stuff. ready start my staff accountant job next week.
Appreciate your teaching skills .
Love from Pakistan .
Thank you so much. My teacher is way too scatterbrained to be teaching anything that has numbers or steps involved. He makes it so confusing but you just cleared everything up in no time! Hopefully I do well on this exam tomorrow, it'll be thanks to you lol
Thank you
Thank you so much!
The way you present the material is so clear and understandable.
The way you explain is amazing. Thank you so much.
Amazing instructor. Will be looking at all of your videos to guide me throughout my Accounting Education. Thank you.
You just helped me pass the first 5 or 6 chapters of POA! Thanks!
Closing explained the easiest and best way, thank you very much
Very instructive! The textbook I have only briefly mentioned how and why the process works that way. Thanks a lot!
This is very helpfull now I have a grasp on what accountants do and how to do it
only after your explanations i understand whats going on, thanks for videos... i wish my professors were explaining like you
RUclips has taught me more than all my professors.
Hands down, best explanation.
THIS IS S OOOOOO GOOD THANK YOU FOR SAVING MY SEMESTER, SIR
you are definitely an amazing teacher, Thank you so, so much.
a legend. thank you for helping me pass my exam ily
I love it. You make it very simple. Thank you!
The first one is less complex .Thank you Professor .
Accounting itself bows to you Mr Larry, professor of financial accounting 😃
Thank you Larry. You are BEST!
BAM 💥. Better than my teacher 😐 lol
Love ❤️😘 it 💛
Thank you so much 😊 God bless you.
This was so helpful. Thank you so much!
Larry, you mention a book in your videos. Do you teach a class I can take online? I love the way you explain things.
Great and clear explanation .
Thank you so much! Very much appreciated!
God bless you .you are the best
God, that you?. You're amazing man
its so easy to understand !! thank you so much
Damn !! Your great we need professors like you!!simple and amazing
need to know bank reconciliation in simple form.
thanks for this easy steps
THANK YOU SO MUCH, ACCOUNTING GOD!!!
Thank you so much sir. A very useful and well-explained lecture!
Thank you so much
very good video. just a recommendation, zoom out after finishing your work so everything looks visible as just one piece at the end. thanks for the video!
BU INDRIII, THIS IS MY HOLY GRAILLL
Very clear explanation thanks you .
thanks for the helpful and needed information
To the point. That is probably a few weeks of school with my old teacher, ha, ha, ha... Thank you
Thank You Sir!
You're so much better than my college professor..
Excellent explanation! simplicity at its finest!!
Salamat Sir. Salute po sa inyo.
Excellent tutorial!! Thanks for sharing
thank you, that was a meaningful and straight forward.
wait did i miss something? at 7:30 why are we debiting Retained Earnings of 9,000 in the journal when just a minute ago we credited that total balance in the t account of Retained earnings?
You make accounting fun. THANK YOUUU
you are legend Larry
You deserve the like and the subscriped
Great explanation
Thanks brother
Amazing , thank you master 😊
Nice, can you please do a video with balance sheet?
ruclips.net/video/hhKO6MRvk_c/видео.html
Great ! you made my life easier , Thank you!
Clear as day thank you soo much.
THANK YOU!
Great explanation
Thank You SO MUCH! For this video, it was a BIG HELP!
lmao learning more here than at the university.
Thanks bruh u r the man!
Thank you so much professor. At last i have understood.
this video is great... I can't see why I paid the expensive tuition and learn nothing in lectures
It helps me a lot.thanks for this
Good explanation ✨👍🏻👍🏻