Dear Dave Krug- I just want to thank you for getting me through me level one accounting course that is the prerequisite for getting my masters in performing arts management. You made everything so clear and easy, and I really appreciate your "dad" humor. You don't know it, but you spent countless hours playing in my car on my trips back and fourth from Montauk. You were my summer pal, and I am sure I will be revisiting these videos in the Fall to refresh for my masters accounting course. Yikes.
I am now passing this course thanks to your teaching ability and making this simple to understand!! I told my other classmates about these tutorials and now they also are passing this course. You are highly appreciated!!! Great Job!
6:07 point 2 , why did you credit Cash by $172, I think you should credit Petty Cas account instead of Cash Account. If you use money rofm Petty Cash that seems obvious to credit Pety Cash, I am confused a bit. anyone can explain me that, please.
You credit Cash because you will be taking cash from your account to replenish the petty cash fund. Petty cash account never has any activity unless you are increasing or decreasing the size of it. So on point 2 what should be happening is a check is cashed for 172 (credit to cash) and then the 172 is put into the petty cash drawer.
@@SpyderJayohee I do not agree with You. all the transactions should be recorded under the petty cash. the Entry should Be: Debit all expense and credit Petty Cash... it will show all the expense you paid from the petty cash during the financial year. And it will show how much is the remaining balance. you can replenish petty cash once it reaches a certain level by Debit Petty Cash and Credit Bank.
Dear Dave Krug-
I just want to thank you for getting me through me level one accounting course that is the prerequisite for getting my masters in performing arts management. You made everything so clear and easy, and I really appreciate your "dad" humor. You don't know it, but you spent countless hours playing in my car on my trips back and fourth from Montauk. You were my summer pal, and I am sure I will be revisiting these videos in the Fall to refresh for my masters accounting course. Yikes.
"I have a secret crush...He teaches accounting in junior college, has a dad bod, and wears blue jeans and sneakers...and he makes my heart melt"
YOU ARE AN AWESOME TEACHER!!!
I am now passing this course thanks to your teaching ability and making this simple to understand!!
I told my other classmates about these tutorials and now they also are passing this course. You are
highly appreciated!!! Great Job!
Jenlintz244, hey just out of curiosity, did you get your Accounting degree, if so, are you working in the field, how is the job market??
Thanks again Prof. Krug.
This guy is an awesome teacher.
Great lecture!
thanks for the upload..
0:57 QS 8-4
4:57 HW Ex 8-6
41:17 😂😂
please be my teacher!
I fall in love with him... :) lol
8:29 ex 8-5
6:07 point 2 , why did you credit Cash by $172, I think you should credit Petty Cas account instead of Cash Account. If you use money rofm Petty Cash that seems obvious to credit Pety Cash, I am confused a bit. anyone can explain me that, please.
You credit Cash because you will be taking cash from your account to replenish the petty cash fund. Petty cash account never has any activity unless you are increasing or decreasing the size of it. So on point 2 what should be happening is a check is cashed for 172 (credit to cash) and then the 172 is put into the petty cash drawer.
@@SpyderJayohee I do not agree with You. all the transactions should be recorded under the petty cash. the Entry should Be: Debit all expense and credit Petty Cash... it will show all the expense you paid from the petty cash during the financial year. And it will show how much is the remaining balance. you can replenish petty cash once it reaches a certain level by Debit Petty Cash and Credit Bank.
You are 100% right
Hey Tomek, how are you doing now 6 years later. lol
@Dagfinn Clemens I totally agree with you