How to Prepare a Trial Balance

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  • Опубликовано: 10 дек 2024

Комментарии • 70

  • @Daveboy2k
    @Daveboy2k 4 года назад +85

    It's been over 5 years since you've made this video and it has helped me prepare for my exam. Thank you!!

  • @Innovertraining
    @Innovertraining 4 года назад +11

    Thank you for your clear and precise instruction. I love it when instructors are straight to the point. You made it easy to understand and follow. Thanks

  • @patricksutton7512
    @patricksutton7512 4 года назад +4

    Thank you so much for this video! I wish I would have found this about 3 weeks ago, but I'm here now! Not an accounting major but am almost finished with my BS-Business Administration/Management

  • @KgomotsoRamaboaRamaboa
    @KgomotsoRamaboaRamaboa Год назад +2

    I'm approaching my final exams and this is really helping me🙏🙏

  • @linus2kmoney6
    @linus2kmoney6 Год назад +2

    only thing i can say is that i understand now because of you 👍

  • @zeenmohamed8751
    @zeenmohamed8751 2 года назад

    This video does no beating around the bush and explains very clearly. Thanksss a lot

  • @diana_d_wolf4562
    @diana_d_wolf4562 2 года назад +1

    I literally have a test tomorrow for PoA and this really helps alot omg thanks you for this video!! And thank you for helping me understand

  • @yahyayaseen6907
    @yahyayaseen6907 4 года назад +65

    Wherever its payable its Credit

    • @ttvdarwin7563
      @ttvdarwin7563 3 года назад +8

      Thank you soo much

    • @mustafaalm4200
      @mustafaalm4200 Год назад

      And purchase return as well

    • @nalumansimercy9655
      @nalumansimercy9655 Год назад +1

      Wherever its payable, those are current liabilities, they should be paid within a period of one year, so don't get it like where there's payable, its credit, but instead, get it in a manner that where there's payable, those are liabilities hence liabilities go on the credit side

  • @Moonlight_14632
    @Moonlight_14632 4 года назад +28

    DEALER
    D-drawings
    E- expense
    A- assets
    Increase= debited
    Decrease= credited
    L- Liabilities
    E- Equity
    R- Revenues
    Increase- Credited
    Decrease- Debited

    • @muhammadlee-
      @muhammadlee- 4 года назад +9

      I think DEAD CLIC is better.
      DEAD=
      D-Debit
      E-expense
      A-asset
      D-drawings
      CLIC=
      C-credit
      L-liability
      I-income
      C-capital
      This way you already know what is debited and credited by the first letter of each acronym.

    • @jeonghansbiggestenthusiast6996
      @jeonghansbiggestenthusiast6996 4 года назад +1

      This is unrelated but AAARRRMMYYYYY

    • @wynterzzz4469
      @wynterzzz4469 2 года назад

      @@muhammadlee- dude idk who you are but i literally love you thnk you so much may God bless you

  • @suniavosikata520
    @suniavosikata520 4 года назад +2

    its 2020 and I'm having my exam in the next few days, this helped a lot omg thanks!

  • @nia7939
    @nia7939 3 года назад +3

    thank you so much for helping me i have an accounting exam in 3 days and i hardly understand anything lol

  • @praveenkumarj.r8735
    @praveenkumarj.r8735 2 года назад +1

    Form this video it's easy to understand trail balance....but voice is low....tq!!

  • @aaronkeyala5097
    @aaronkeyala5097 3 года назад

    You're a life saver carry on helping us comprehend accounts

  • @MoussaToure316
    @MoussaToure316 2 года назад

    Thank you. I really enjoyed that video it helped me a lot and I understand the trial balance a lot more now.

  • @AccordingtoVee
    @AccordingtoVee 5 лет назад +12

    Thank you! Great video, it was simple and easy to understand.

  • @iiKuipo
    @iiKuipo 6 месяцев назад

    you saved my life 🙏

  • @rodrigocastillo2015
    @rodrigocastillo2015 2 месяца назад +1

    aprendiendo Ingles :D
    si vienes de Administración Financiera deja aqui tu like ;D

  • @Jom_Lin
    @Jom_Lin 3 года назад

    Thank you so much it helped me in my exam 😭😭😭

  • @nighatsultana9070
    @nighatsultana9070 5 лет назад +4

    how to prepare trial balance after balancing off t accounts

  • @tofayelkhan3485
    @tofayelkhan3485 Месяц назад

    tomorrow is my exam and i am learning from here

  • @nekoyamaanna3798
    @nekoyamaanna3798 5 лет назад +4

    wish i'd found you earlier. have to re-sit for my paper.. again.. probably.. since im definitely failing this re-sit. hope you make more vids!

    • @Abhishekn._
      @Abhishekn._ 5 лет назад +1

      Me too preparing for a supply exaam
      Chheers ☺️

  • @suniavosikata520
    @suniavosikata520 4 года назад +1

    -- Current Assets--
    -cash in hand
    -cash at bank
    -accounts Receivable / debtors
    -petty cash advance/imprest
    -stock/inventory
    -income due
    -expenses prepaid
    -Fixed Assets-
    -Land
    -Building
    -Furniture
    -plants and machinery
    -equipment
    -motor vehicles
    -fixtures
    -fittings

  • @suchz79
    @suchz79 2 года назад

    Great help. Thanks for sharing. Permission to share this also.

  • @isabellekimp.guitap7507
    @isabellekimp.guitap7507 3 года назад

    thanks you save me on this grade 10 course in accounting

  • @kennethfortugaleza5073
    @kennethfortugaleza5073 5 лет назад +4

    how do you know if which 1 is debit and which 1 is credit?

    • @suniavosikata520
      @suniavosikata520 4 года назад +2

      -- Current Assets--
      -cash in hand
      -cash at bank
      -accounts Receivable / debtors
      -petty cash advance/imprest
      -stock/inventory
      -income due
      -expenses prepaid
      --Fixed Assets--
      -Land
      -Building
      -Furniture
      -plants and machinery
      -equipment
      -motor vehicles
      -fixtures
      -fittings

    • @komeesimagbele3140
      @komeesimagbele3140 3 года назад

      Exactly

    • @aliakber8556
      @aliakber8556 3 года назад

      Coz assets, expense, drawings and a/c receivable will be debited and liability, owners equity, revenue,contra a/c will be credited..in the situation of increasing of amount.

  • @SanuImole
    @SanuImole 10 месяцев назад

    Guy good job

  • @Hacker-cl2wl
    @Hacker-cl2wl 4 года назад

    U saved my life

  • @tnloneunhackable7141
    @tnloneunhackable7141 4 года назад +3

    Omg dude u SAVE my life

  • @aydenpollard2248
    @aydenpollard2248 5 лет назад +1

    This was unbelievably helpful. Thanks so much!

  • @lifewithkadii6442
    @lifewithkadii6442 2 года назад

    how about cash in hand is it debit?

  • @chamanlalsharma5292
    @chamanlalsharma5292 5 лет назад +1

    what about discounts allowed or receved

    • @robincao5933
      @robincao5933 4 года назад +1

      discount received is on credit side, discount allowed is on debit side as u can see it as an expense

  • @Jimmy-yh1qq
    @Jimmy-yh1qq 2 года назад

    Why did you start witch cash and then moved all the way to the bottom of accounts receivable

  • @yosafatyeo4605
    @yosafatyeo4605 Год назад

    Here I am after my midterms wondering what my friends meant by balancing the trial balance. Oh shit

  • @jubsfash
    @jubsfash Год назад

    Owners capital is liability, can u explain please

  • @hinami3616
    @hinami3616 Год назад

    Thank you so much

  • @MK-pj3ek
    @MK-pj3ek 4 года назад

    Great

  • @cyrusmoorcroft1350
    @cyrusmoorcroft1350 3 года назад

    help i dont have notes payable, salaries and wages payable, service revenue and salaries & wages revenue on mine. (L. Patel unit 2 TVO ILC baf3m)

  • @user-jt2jl7vz3s
    @user-jt2jl7vz3s 6 лет назад +4

    very helpful, thanks!

  • @FavourOkechukwu-r6n
    @FavourOkechukwu-r6n 8 месяцев назад

    so good

  •  5 лет назад +9

    last video i saw expenses were under credit, here they are debit. accounting makes no sense!

    • @Abdulrahman65440
      @Abdulrahman65440 5 лет назад

      100k YaYa it make sense. The total at the end lest you know that there is no cheating goin on

  • @asharani-cn3pf
    @asharani-cn3pf 3 года назад

    Thankyou so much

  • @official_PapaYaw
    @official_PapaYaw 2 года назад

    Why is it that supplier having a debit balance intends of credit sir I need an explanation

    • @Nymul_Y
      @Nymul_Y 2 года назад

      supplies are an asset because you own it

  • @masror_ah
    @masror_ah 3 года назад

    Thanks

  • @nioxi
    @nioxi 3 года назад

    Could anyone help? Is it A?

  • @SandeepKumar-ux2ch
    @SandeepKumar-ux2ch 5 лет назад

    Thank you

  • @victorngala
    @victorngala 3 года назад

    And what about stock??

    • @moboobie
      @moboobie 2 года назад

      You leave closing stock out of it but you can put opening stock in the trial balance

  • @everyoneeverybody2046
    @everyoneeverybody2046 3 года назад +1

    If this doesn't help I'm done with accounts-

  • @nihmathurrahman6265
    @nihmathurrahman6265 6 лет назад +1

    Thanks a lot

  • @aliakber8556
    @aliakber8556 3 года назад

    Where is revenue?

  • @kundankumarraj8899
    @kundankumarraj8899 5 лет назад

    Hello

  • @SanuImole
    @SanuImole 10 месяцев назад

    😂 bad guy they drink garri

  • @razwanshlak908
    @razwanshlak908 5 лет назад

    theis video very delicious

  • @youngm.tgamingchannel8394
    @youngm.tgamingchannel8394 Месяц назад

    2024😊