PROPERLY Record Debits and Credits with Examples (EASIEST Method)

Рет қаралды 258,761

Күн бұрын

Get Access to My Course "Fundamentals of Financial Analysis" here 👉 www.xelplus.com/course/learn-...
In this video, we take a deep dive into the world of debits and credits, turning theory into practice! Ideal for anyone keen to understand the real-life application of accounting principles.
🔍 What's Inside:
▪️ T-Accounts & Journal Entries: We start with the basics of T-accounts and then progress to journal entries, making the process easy to understand.
▪️ Real-Life Examples: Follow along as we record transactions for Claudio’s Italian beach business, offering a practical perspective.
▪️ Detailed Steps: From analyzing which accounts are affected to determining whether they go up or down, each step is clearly explained.
▪️ Accounting Concepts Simplified: Complex concepts like "Cost of Goods Sold" (COGS) and different inventory valuation methods are broken down for ease of understanding.
▪️ Visual Illustrations: We use T-accounts to visualize transactions, helping you grasp the concepts more effectively.
Use our secret weapon ADEx LER (Accountants Don't Expect Low Earning Rates) to apply Debits and Credits to actual transactions of a business.
00:00 Debits and Credits Practice Problems and Solutions
01:22 How to write and record debits and credits?
02:09 Owner putting Equity in company
05:42 Buying Inventory with Cash
07:20 Recording Sales
10:03 Recording COGS
11:00 Is Expense a debit or credit?
12:02 Summary of Transactions
13:15 Income Statement
13:35 Balance Sheet
★ My Online Excel Courses ► www.xelplus.com/courses/
➡️ Join this channel to get access to perks: / @leilagharani
👕☕ Get the Official XelPlus MERCH: xelplus.creator-spring.com/
🎓 Not sure which of my Excel courses fits best for you? Take the quiz: www.xelplus.com/course-quiz/
🎥 RESOURCES I recommend: www.xelplus.com/resources/
🚩Let’s connect on social:
Instagram: / lgharani
LinkedIn: / xelplus
Note: This description contains affiliate links, which means at no additional cost to you, we will receive a small commission if you make a purchase using the links. This helps support the channel and allows us to continue to make videos like this. Thank you for your support!
#Accounting

Пікірлер: 326

@LeilaGharani 5 ай бұрын

Get access to the complete "Fundamentals of Financial Analysis" course here 👉 www.xelplus.com/course/learn-financial-analysis/

@ojayherbert 11 ай бұрын

This is best and simplest lecture i’ve ever seen on recording debits and credits. Thank you fo much

@nitinrajeev5609 4 жыл бұрын

This is one of those channels I'm so glad that I found!

4 жыл бұрын

Thank you so much, i have been struggling with these for so so long, i have also watched a ton of videos online but still can not understand anything until i find your video. It helps a lot and for the first time in my life i can understand how the transaction works. You're such a great teacher

@LeilaGharani 4 жыл бұрын

Great to hear!

@asyaborkova4210 3 жыл бұрын

I’m so impressed too! Thank you 🙏

@xperea91 2 жыл бұрын

I couldn’t agree more! I have been trying to understand this for far too long. I cannot thank you enough!!! 🙏🏼

@robertadafallon660 2 жыл бұрын

Thank you for connecting the dots so easily for me!!! Clear and concise presentation.

@MahmoodSuhail 3 жыл бұрын

With every video I watch of yours, my credit of admiration towards you increases and that throws my equation out of balance because you're adding more and more equity to our knowledge! Thanks for the amazing job! Keep up the great work..

@LeilaGharani 3 жыл бұрын

Wow, thank you!

@irynag1771 4 жыл бұрын

Thank you so much! I'm impressed. Please, post more and more and more videos ;) about accounting and bookkeeping. I really like your manner of speaking and structure of the lessons!

@LeilaGharani 4 жыл бұрын

We'll definitely post more next year. Glad you like the videos.

@kevwu9931 2 жыл бұрын

Amazing explanation Leila, you've just helped me understand a lot of accounting concepts that I'd struggled to understand my entire life :)

@mariatlopezleguizamo6483 Жыл бұрын

Oh my God! You are fantastic! Thank you so much for sharing your knowledge in such an easy way for us old folks. Blessings

@JTBooks 11 ай бұрын

One of the best explanations of COGS i've come across. This cleared it up so much. Thanks!

@julietlawson780 2 жыл бұрын

You are such a great teacher! Thank you so much for simplifying this!

@abeazar 4 жыл бұрын

As a practicing CPA and a person who attempts to teach accounting to small groups of Payroll Professionals in about a half an hour once a year, I plan to use your examples next time I teach. Thanks for a precise and concise accounting lesson. Abe Azar

@LeilaGharani 4 жыл бұрын

Thanks Abe. I hope the examples will be useful.

@deepvyas3972 4 жыл бұрын

Nice

@mmbogo2873 Ай бұрын

Thanks

@seymourtompkins 4 жыл бұрын

Such a wonderfully clear and visually engaging presentation (such fine graphics). You have a great production crew !

@LeilaGharani 4 жыл бұрын

Thank you! We are doing our best :)

@peternganga9371 4 жыл бұрын

Thanks Leila. These are explanations that I missed in my introduction to accounting. Nice one there. Thanks.

@LeilaGharani 4 жыл бұрын

Glad you like it Peter.

@munizahir7644 2 жыл бұрын

Thank you Leila for the amazing explanation. I think now I can say that I can pass the accounting course confidently.

@rodrigoabatepaulo 4 жыл бұрын

I’m an Brazilian accountant, it’s really easy to learn with your videos. You have to understand the basis very well to understand the advance accounting. It’s really nice your way to explain. Congrats.

@LeilaGharani 4 жыл бұрын

Glad you like it Rodrigo. And it's so true. Once you understand the basics everything else falls in place much easier later.

@adiscomputerschool Жыл бұрын

Very nice approach. I spent four years in university studying for this course. Now I have amazing knowledge in 15 minutes. thank you!

@Angelica-pu3dq 3 жыл бұрын

Oh my goodness...i think you are saving my life. I'm taking a college accounting course (working on acct degree) and I was SO confused!! I checked out to other people before you and I was still confused after watching several of their videos. This is really helping a lot and putting it into terms and a way that I can understand. I really appreciate that immensely. I was getting nervous I wasn't going to be able to grasp it. ❤🙌

@LeilaGharani 3 жыл бұрын

I'm so glad! Good luck with the course.

@jaylauna4153 3 жыл бұрын

Watched both videos, this one's great simplified version of understanding Debit and Credit Entry and how it is fed into the P&L and Balance Sheet. You are awesome!

@LeilaGharani 3 жыл бұрын

Glad it was helpful!

@allengrant5874 2 жыл бұрын

Thanks once again Leila. So clear and concise.

@bunnakornsomprasert6019 4 жыл бұрын

Thank you Leila. These help me a lot to explain to beginner.

@cosminciceu101 8 ай бұрын

Very good explication and easy to understand. Thank you.

@seidegavenski935 2 жыл бұрын

Simple and wonderful. Thank you!

@jandradaunoraite9725 3 жыл бұрын

Leila you are absolutely amazing! Thank you.

@chikaaudreyna3916 3 жыл бұрын

Omg,thank you so much this is so incredible and detail

@christinenoquera9796 3 жыл бұрын

You're a great teacher finally I understand now I've been struggling on journal entry

@lalamalelang5670 3 жыл бұрын

Now u know on journal entry. Always remember double entry debit and credit are always equal.

@ItsOnlyShift 2 жыл бұрын

This was genuinely absolutely brilliant

@Ash1741. 2 жыл бұрын

Thank you very much. Haven’t done journal entries since I was at uni.

@savannanash1449 3 жыл бұрын

ADEX LER is probably the most helpful thing I’ve ever seen! Thank you

@LeilaGharani 3 жыл бұрын

Our pleasure! I'm glad it's helpful for you.

@duccius 2 жыл бұрын

This playlist is pure gold

@hriditakhan5462 2 жыл бұрын

you make soooo much sense, thank you so much! you're a superstar

@amilcarc.dasilva5665 4 жыл бұрын

Thanks a lot Leila. You're doing great job. Great video tutorial and your explanation is fantastic.

@LeilaGharani 4 жыл бұрын

Thank you! Glad you like it.

@deepanshukaushik5571 3 жыл бұрын

Thanks! You made things easier.

@popohammers9095 3 жыл бұрын

Thank you so much!!! My questions were cleared because of your video.

@nikopriest6762 Жыл бұрын

The DEALER method is easier to remember. Dividends Expenses Assets Liability Equity Revenue

@Inquire98 4 жыл бұрын

"Thank GOD", and thank you very much for your sharing support and time 😉 You and your videos are REALLY good 👌

@LeilaGharani 4 жыл бұрын

Glad you like them!

@shawniejohnson130 4 жыл бұрын

You saved me, I was lost but I understand so much better now! Thank you 😊

@LeilaGharani 4 жыл бұрын

Glad to help Shawnie :)

@johngeldenhuys2158 4 жыл бұрын

wow - I find myself going back and re-watching - I will understand this one day. thks Leila

@LeilaGharani 4 жыл бұрын

Took me a long time too John :)

@meghnasunil8212 2 жыл бұрын

Your explanation is so on point 👌

@luzvimindachangsi8806 Жыл бұрын

I still had a lot to learn thank you so much

@akhilkumarraparthi8179 3 жыл бұрын

Your just awesome teacher I have so much of respect on you after watching this vedio. Thanks a lot

@dorothysstitches7333 4 жыл бұрын

Thank you so much for this video! It explains things so clearly and I understand much better thanks to it 😊

@LeilaGharani 4 жыл бұрын

Glad it was helpful!

@gyambibialex849 3 жыл бұрын

Very interesting . It helping me a lot. Accounting made easy for me

@shawnsweetonmoras6856 2 жыл бұрын

Thank you so much Leila

@kourosh234 3 жыл бұрын

this is the best and easiest tutorial to understand on the web. Nice job. thanks

@LeilaGharani 3 жыл бұрын

Glad you think so!

@felixojunekwu7753 5 ай бұрын

Beautiful. Thanks for this video

@eyoelgetachew6004 2 жыл бұрын

great lesson ....................thank u leila

@alihz5890 2 жыл бұрын

great video, keep it up!!!!!

@ellefrias5980 3 жыл бұрын

Thank you so much😭 Im really getting a hard time understanding my course right now... But after watching ypur videos and discussion it is more easier and lighter for me😊😊😊😊

@LeilaGharani 3 жыл бұрын

Happy to help!

@wizardmaster6639 2 жыл бұрын

very good Leila - highly helpful - its basic math, but putting them into these swinging accounts is a learning process. .... But I have great news for you, since the time I have started watching your videos, I have become a majnoon - thanks for your help.

@Geevs80 3 жыл бұрын

Every time you lowered the brightness of the background I thought my battery was dying! Really appreciate the good explanation.

@blackamericanlesbianprofes4357 3 жыл бұрын

Thank you for posting. I have been suggested to a few other Accounting KZfaq channels which yours is in the list, by another KZfaq channel The Accounting Struggle. I will take a look at your videos.

@mattschoular8844 4 жыл бұрын

Thanks Leila. The first 80% was explained well in detail. I hope you will expand upon the income stat and balance sheet portion on more detail in upcoming videos. Well done...

@lalamalelang5670 3 жыл бұрын

And also trial balance.

@rsadsultanov3071 3 жыл бұрын

Thank you ,finally could comprehend a topic at least a little. I wish my professor would teach in the same way :(

@samuelsanchez7800 4 жыл бұрын

Thank you so much, I finally understand.

@LeilaGharani 4 жыл бұрын

Glad it helped, Samuel!

@karrieweb2004_JxEdEx 4 жыл бұрын

Thank you for the clearly presented information. I will share this video with my classmates.

@LeilaGharani 4 жыл бұрын

Glad you like it Karen.

@happyfamilylifescreations 3 жыл бұрын

Really nice and clear..thanks for your time and effort leila!

@LeilaGharani 3 жыл бұрын

You're welcome 😊

@salaheldin00 3 жыл бұрын

Thank you so much for the most valuable information you have have clearly explained .

@LeilaGharani 3 жыл бұрын

You are very welcome

@shabbirkanchwala-abwaab6263 4 жыл бұрын

Debit-Credit simplified New LG style Thnx Keep it up

@LeilaGharani 4 жыл бұрын

Thank you! More to come. Stay tuned :)

@sandrahendricks1354 2 жыл бұрын

Very helpful - thank you greatly!

@johnnykeita7392 3 жыл бұрын

You are talented keep it up. Thanks

@oliviamwebeiha6038 3 жыл бұрын

Excellent video, made it seem so easy! Thanks

@LeilaGharani 3 жыл бұрын

Glad you liked it, Olivia!

@mazenalsakkaf 4 жыл бұрын

Wow..the best video in its own subject I have ever seen...cheers

@LeilaGharani 4 жыл бұрын

Thanks for the kind feedback!

@zazaza5535 Ай бұрын

The very best. Thank you.

@juniorcoder1267 Жыл бұрын

Thank you very much, i have managed to created an accounting system using your videos

@NY-Dani 4 жыл бұрын

What a great explanation. Thank you so much.

@LeilaGharani 4 жыл бұрын

You're very welcome!

@zqrsh7902 4 жыл бұрын

Madam thanks for your most informative vedio. Eagerly waiting for your next vedio on automatically transfer (posting) General entries to ledgers.

@ismailismaili0071 4 жыл бұрын

U are doing such a great job thank u so much Ms. Leila

@LeilaGharani 4 жыл бұрын

My pleasure Ismail. Hope it's helpful.

@wayneedmondson1065 4 жыл бұрын

Hi Leila.. thanks for the video.. very interesting and entertaining presentation. Thanks for expanding my knowledge base! Thumbs up!!

@LeilaGharani 4 жыл бұрын

Thank you Wayne!

@jamjam5158 4 жыл бұрын

Excellent work thanks

@vyshnavakumar2553 4 жыл бұрын

One of the best way to learn accounting.. Hats off

@LeilaGharani 4 жыл бұрын

Glad you like it!

@honestcomments8053 23 күн бұрын

Excellent!

@nadeemmalik8031 4 жыл бұрын

Brilliant, simple, easy to understand. Thank you so much Leila. You really are an amazingly beautiful person and a fantastic whizz with all your videos.

@LeilaGharani 4 жыл бұрын

Thank you so much!

@temidayoadebiyi7024 4 жыл бұрын

Awesome as always. Thanks a lot Leila

@LeilaGharani 4 жыл бұрын

My pleasure. Glad you like it.

@tonydong13 4 ай бұрын

best channel in youtube! only starting to understand these after watching your video, thanks!

@LeilaGharani 4 ай бұрын

Happy to hear that!

@adriannoguera0716 Ай бұрын

Thank you Leila ❤

@jkederyte 3 жыл бұрын

Very good video, thank you!

@LeilaGharani 3 жыл бұрын

You are most welcome!

@CoolGirl-uf1ou 3 жыл бұрын

thank you very mucchhh!!! this was an amazing explanaition!

@LeilaGharani 3 жыл бұрын

You're very welcome!

@TareignTV Жыл бұрын

Thank you so Much

@qudratullahhabiby607 3 жыл бұрын

it was so nice of you i love that your teaching so in easily way i really enjoy from your video

@LeilaGharani 3 жыл бұрын

Thank you! 😃

@ganapathibalasubrahmanyam4575 3 жыл бұрын

Your pace of explanation is awesome. Must say the very BEST!!!

@LeilaGharani 3 жыл бұрын

Thanks a lot 😊

@ganapathibalasubrahmanyam4575 3 жыл бұрын

You got it. Delivery at right pace is very key for successful learning. This tutorial was spot on. Is there a email where I can discuss in more details about this with you?

@dennisd5776 4 жыл бұрын

Nicely done.

@user-oz9ew7jn8k 4 ай бұрын

OOOH MY GOD!!!!!!!! you are the best!!!!

@patriciaruthdrusiledongmod3201 3 жыл бұрын

You are the best🎉🎉

@factspoken9062 3 ай бұрын

best channel till date

@phoenixs6098 Жыл бұрын

YOU'RE AMAZING. MAY GOD BLESS YOU ABUNDANTLY! 😇🙏🏼

@alexamantel5330 2 жыл бұрын

nice, nice, nice, excellent,perfect work

@teem6186 3 жыл бұрын

You are awesome!!!

@MYTHOMINHTRAN 3 ай бұрын

The missing dots have been found and connected, and I have regained my confident to come back to school after 45 years on the pursue of living career! Appreciate your teaching! Apprezzo il tuo insegnamento, signora Leila.

@lalamalelang5670 3 жыл бұрын

This simple easy to understand will be my giuide from journal entry t-acct balance sheet income statement. Hope the example is complete when it write it down the transactions. Thanks

@whitneymacdonald4396 3 жыл бұрын

So, so helpful. Thank you.

@LeilaGharani 3 жыл бұрын

You're so welcome, Whitney!

@merradahmed3921 3 жыл бұрын

THANK YOU

@Learningvideos421 3 жыл бұрын

Just because of you I am able to do it. Thanks a lot.

@LeilaGharani 3 жыл бұрын

Glad to hear that

@georgeparden2618 5 ай бұрын

I love this.

@marktolliver1133 3 жыл бұрын

JUST EXCELLENT, NOTHING ELSE NEEDS TO BE SAID

@ayananidheeshayananidheesh7274 4 жыл бұрын

Thanks maam.i am in Kerala.l well understand your class.al the best.

@modiakhil67 3 жыл бұрын

very helpful

@youssefyoussef5096 3 жыл бұрын

Thanks for sharing this valuable content.

@LeilaGharani 3 жыл бұрын

My pleasure!

@hassanallawati4418 2 жыл бұрын

you are amazing!

@88pianissimo90 3 ай бұрын

Thanks for the video. This is helpful. I am technical person working in financial reporting and this kind of videos help me understand requirement and then translate that into technical stuff.

@88pianissimo90 3 ай бұрын

Can you please make a video on inventory valuation methods like FIFO, LIFO etc.