The Accounting Equation and the Rules of Debit and Credit
In this video, we will cover the accounting equation and the rules of debit and credit.
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The textbooks used in this video: Financial Accounting, Jan R. Williams. Publisher: McGraw-Hill and Survey of Accounting, Carl S. Warren. Publisher: Cengage Learning. Chapter 3.
Additional resources:
https://www.amsa-online.com/free-reso...
Timeline
00:00 The Accounting Equation and the Rules of Debit and Credit
00:11 The Use of Accounts (T Accounts)
01:00 Example: Posting to the Cash T Account
02:02 Introduction to Accounting Equation. Introduction to Debits and Credits
02:54 How Debits and Credits Work for Different Accounts. Debit and Credit Entries
03:54 Double Entry Accounting. Debits = Credits
04:07 The Rules of Debit and Credit
04:49 Examples of Posting to the Ledger Accounts (T Accounts)
04:52 Example: Investing in the Company (Buying Stock for Cash)
06:01 Example: Borrowing Cash from a Bank
06:47 Example: Buying Land for Cash
American Modern School of Accounting is a nonprofit online vocational school that offers several programs helping adult learners to start or advance their careers in bookkeeping and accounting.
We offer the following programs:
• Certificate in Computerized Accounting with QuickBooks
• Certificate in Computerized Bookkeeping with QuickBooks
• Certificate in Computerized Bookkeeping with QuickBooks (Budget Plan)
For more information, visit our website: https://www.amsa-online.com/
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