Analyzing Transactions | Journal Entries Example | Accounting How To

Analyzing Transactions | Journal Entries Example | Accounting How To is a four part accounting tutorial that introduces three methods of analyzing accounting transactions: The Accounting Equation spreadsheet, T Accounts, and Journal Entries. It reinforces the concepts of debits and credits for beginners, gives an accounting general ledger tutorial, shows how to post to the general ledger, how to post to T accounts, how to figure balances for T Accounts and general ledger accounts and how to create a Trial Balance. This is an accounting tutorial for accounting students, business owners, and bookkeepers to explain accounting basics for beginners. Featuring Terrance the T-Account Rex and accounting educator, Caroline Grimm, this accounting tutorial is part of a playlist series called How to Pass Accounting Class. ⏰Accounting How To Time Stamps 00:00 Introduction to Analyzing Transaction using Journal Entries 00:55 Journal Entries Format, Rules, and Best Practices 03:48 Transaction 1: Owner Investment 05:03 Transaction 2: Purchase Supplies on Account 05:50 Transaction 3: Cash received for revenue earned 06:56 Transaction 4: Pay rent 07:30 Transaction 5: Pay creditors on account 08:33 Transaction 6: Bill customers 11:10 Transaction 7: Pay expenses & a compound journal entry! 12:51 Transaction 8: Pay salaries 13:37 Transaction 9: Supplies Expense / Supplies 15:40 Transaction 10: Owner withdrawal 16:42 Introduction to General Ledger 17:25 How to Post to the General Ledger 21:36 How to create a Trial Balance 22:43 How Accounting Software is Different from Accounting Class 🏋Accounting Exercises: Download the spreadsheet: https://docs.google.com/spreadsheets/d/1DpxkxbRlCAYsgKhnCCGBIzx3FIxY3juaLpsw226J4k4/edit?usp=sharing 🎥 Accounting Exercises Analyzing Transactions Playlist: Accounting Exercises: Analyzing Transactions: https://youtu.be/AgWi1AuHx1U Accounting Equation: https://youtu.be/6qgLWxW9ARM T Accounts: https://youtu.be/ACsvMnl14Fw Journal Entries: https://youtu.be/2pRlWH291do 🎥 How to Pass Accounting Class Playlist: https://www.youtube.com/playlist?list=PLPDomDzptO13nZXwb5-MfyN2POIrUUFyY 🎥 Accounting Basics for Business Owners https://www.youtube.com/playlist?list=PLPDomDzptO121toEKoHxiuGp-pwSIF3Uq 🔥 Smoking Hot Deal! Use this link https://quickbooks.grsm.io/accounting-how-to to access special pricing for new QuickBooks customers. Accounting How To receives a small commission if you sign up through this link. That helps keep this channel going and makes sure Terrance gets enough snacks so he doesn’t get hangry. Nobody likes a hangry T-Rex. 👹 📚 Get Caroline’s books on Amazon: Strength in Numbers: Fast and Easy Accounting Basics for Business Owners https://www.amazon.com/gp/product/B09NWX3M7M Solving the Cash Flow Puzzle: Practical Solutions for Common Financial Problems in Your Business https://www.amazon.com/gp/product/B09NYPQ7FM 🔗Associated Links YouTube: https://www.youtube.com/channel/UCQP36yTWyjZ4wE_YvW6II4A Website: https://accountinghowto.com/ Facebook: https://www.facebook.com/accountinghowtovideos LinkedIn: https://www.linkedin.com/in/caroline-d-grimm-b0760a66/ Caroline’s Historical and Contemporary Fiction site: https://talesofoldnewengland.com/ and http://magicofacadia.com/. Caroline’s Amazon Author Pages: Fiction books: https://www.amazon.com/Caroline-D-Grimm/e/B00DQVZDNO Business books: https://www.amazon.com/Caroline-Grimm/e/B004HMN0ZY #accountinghowto #accounting #accountingbasics