Homework Problems Solved: Accounting Equation Transaction Analysis

In this video, we’ll review how to fill out a Transaction Analysis form. These forms display the accounting equation (Assets = Liabilities + Equity) and are used to track individual transactions as well as account totals and account type totals. See the image below for the examples covered in this video.

Video length in minutes: 12:19

Log in below or register here

Read More

The Easy Way: Accounts Payable

Accounts Payable is an account you’ll use frequently. It’s a Current Liability and represents the amount of money you owe creditors. In this video, you’ll see some common Accounts Payable transactions and how they differ from cash transactions.

Video length in minutes: 8:15

Log in below or register here

Read More

The Easy Way: Accounts Receivable

Accounts Receivable is an account you’ll use frequently. It’s a Current Asset and represents the amount of money customers owe you. In this video, you’ll see some common Accounts Receivable transactions and how they differ from cash transactions.

Video length in minutes: 10:05

Log in below or register here

Read More

The Easy Way: Straight Line Depreciation

Depreciation is the systematic allocation of a fixed assets cost over its useful life. There are a handful of ways to calculate deprecation, but one of the most common ways is using a Straight-Line method. In this video, we’ll cover how to calculate depreciation expense, accumulated depreciation, and the book value of a fixed asset using the Straight-Line depreciation method. Additionally, you’ll see the journal entry to record.

Video length in minutes: 5:54

Log in below or register here

Read More

The Easy Way: General Ledger

Using a General Ledger is part of the Accounting Cycle and it’s crucial to understand for your accounting class. Transactions are posted to it and adjustments are made to General Leger accounts. In this video, we’ll cover how to post journal entries to the General Ledger and other General Ledger concepts.

Video length in minutes: 3:59

Log in below or register here

Read More

The Easy Way: Solving Problems Using T-Accounts

T-Accounts are extremely helpful when your doing accounting. Your Accounting class will be so much easier if you understand the concept of T-Accounts and know how to apply them to homework, quiz, and test questions. In this video, we’ll cover how to solve accounting questions using T-Accounts.

Video length in minutes: 14:05

Log in below or register here

Read More

The Easy Way: Statement of Cash Flows Indirect Method

In this video, we’ll cover how a Statement of Cash Flows is prepared using the Indirect Method. We’ll review the different sections of the Statement of Cash Flows (Operating, Investing, and Financing) and what makes up these sections. Additionally, we’ll review a completed Statement of Cash Flows and see where the numbers come from (Balance Sheet, Income Statement, and additional information).

Video length in minutes: 16:45

Log in below or register here

Read More

Homework Problems Solved: Depletion

In this video, we’ll review how to calculate the acquisition cost of a natural resource, depletion rate, depletion expense, accumulated depletion, and book value for a natural resource. See the image below for the examples covered in this video.

Video length in minutes: 4:46

Log in below or register here

Read More

Homework Problems Solved: Depreciation

In this video, we’ll review how to calculate depreciation expense, accumulated depreciation, and book value using the following methods; Straight-Line, Double-Declining Balance, Sum of the Years’ Digits, and Units of Production (also known as Units of Activity). Additionally, you’ll see how to calculate partial and full year depreciation for each method. Sum of the Years’ Digits is sometimes taught in your first accounting class…you can skip Sum of the Years’ Digits method if you’re not required to learn it for your class. See the image below for the examples covered in this video.

Video length in minutes: 25:59

Log in below or register here

Read More