Florida back at it again

accounting for beginners number 21

number 21

we're going to do a t-account example

today example of a t-account i was going

to do a video on trial balance but to

have kind of because I've been getting

questions on trial balance to do the

trial balance you need example of a

account i wanted to do it in different

videos is one of you guys suggested

before you know it should break down my

videos into smaller chunks of

information which I totally agree

so this one's example of t count number

21 kind of foreigners were 21t counts as

accounting for beginners number 17 i'll

put a link for atty count for beginners

t-accounts you want to watch that before

you watch this one these are journal

entries and these journal entries come

from accounting for beginners number

four

so if you want to know how I got these

journal entries how I came out to their

a debit or credit or their asset or

liability you might want to watch number

four

also if this is the first video you're

watching out me he'll do

I'm a fucking weirdo so also is the

first one this is kind of white thing

here is DC a blur Democratic asset draw

expense and liabilities equity ratio

kind of my thing I have a lot of videos

on my watch my card series is our

journal entries from accounted for

beginners number four and really the

next step would be to to make a

t-account it makes it easier in my

earlier days of accounting and my

dumbness I just I i got the the balances

of these accounts by just adding

subtracting I got so many questions or

how did you come up with that how did

you come up with that because i didn't

really answer i didn't want to go step

by step by step I kind of just go soon

and then you would know that and we

don't do that we don't want to assume

anything

oh sure my favorite shirt is what POS a

hang drywall jelly roll

so these are journal entries that we've

already done regarding determined that

these are debits and these are credits

and debits and credits always always

always equal an hour up to speed now you

have ways have five journal entries

I don't know when you're in your

classroom exercises you might have 20 25

or 30 that's why the t counter important

every journal entry every account see

every every account that we have like we

have a cash account alone account a

truck help a rent account a service

income account and draw count

well you can have whatever account on

your chart of accounts that's number 20

interested accounted for here is number

20 which is chart of accounts all

yeah i was just going to say that a good

teacher but thanks to you guys you guys

have been on my ass for saying that i

should use up on myself and my decent

teacher so I am my worst credit i have

so many issues that really want to start

with that but thank you very much for

giving me props or whatever and i am a

teacher account so when you're ready

journal and threw down you're going to

create an account

it's kind of a simultaneously

simultaneous thing wherever just going

from like when I do it from for

quickbooks and stuff and in my business

to make a journal entry you have to have

an account chart of accounts quickbooks

kind of does the T counter-examples the

t account is just to get any balance for

each account basically that's what I

would think and you have to know debits

and credits so we've already established

that before so let's take the journal

entries and transfer them over to the

t-accounts that's what we're going to do

we turn offers to t account go jerk

let's go find journal entry so let's go

step-by-step and and do it down on the

left corner on the right now always

always equal always always always cash

for 10 to a debit cash

for 10,000 so we go in the cash account

debit for 10,000 yes we have that for

the quiet for first country of loan for

10,000 we were alone account and we have

a credit for 10,000 so so we so we've

done the first one second journal entry

dead truck for 5,000 truck

this is the truck counterpart of

accounts debit for 5,000 credit for that

cash 5004 cash five credit cash for

5,000 so down the second one third row

entry debit rent for 500 we go to the

rent t account debit 500 cash 500 credit

cash for 500 go to work cash account

required for 500 we've teamed counting

up 23 23 journal and forth journal entry

catch debit 800 cash account deputy

hundred what's the credit for that

service income 800 we're going to

service income account credit for a

hundred good i've done the fourth

journal entry now we're gonna go for

fifth journal Nature debit draw 100 we

go to draw into account the other one

hundred dollars now we go to the credit

credit cash in 100 credit cash 150

countries done you notice that we've

just taken whatever is a debit over here

whatever is a debit we put on the debit

side when I was a creditor journal tree

goes on the credit side

Oh like chop some of this output a boy

likes to talk it anyways so we get to

get out of the way so here's our two

accounts this is over here now so the

ones with only 11 number in it or that's

going to balance alone or

ten-thousand-dollar Carter truck

five-thousand-dollar debit balance rent

five-hundred-dollar it

balance service income in our card

balance draw one dollar debit balance

cash is the one that we're going to work

with and in my infinite wisdom before I

thought you don't need unity accounts

are stupid but then I got so many

questions on they had how did catch how

did you get cash to equal 5200 dollars

think in my account for beginners number

five

I just tell it i just i skipped i

skipped account i skip trial balance and

I just went to the income statement i

skipped you just skipped so much sorry

and I got so many questions on how did

you get the cash to be 5200 because I

just went in for his way

Oh 10,000 minus five thousand minus 500

plus 800-900 that confuse everybody i'm

going to show you how I got that we

transferred for cash is the kind of the

hard-won we transfer for each debit or

credit in our journal injuries in the

cash account there's a bunch of

different ways that you can get the 5200

I by I just you know you can you can add

these up 10,800 minus 5600 it's 5,200 I

probably just take out I probably just

take a calculator start with e so you

kind of know 10,000 you got 10,000 in

your account minus five thousand that's

five five-thousand-dollar balance at 800

feet a hundred minus 550 300-350

200

so these are the account balances and I

already know what my next three was

going to be look for it's going to be

just kind of extension of this one it's

going to be about trial balances I

appreciate everybody watching these i

get so much enjoyment and satisfaction

out of making these it's i never i never

thought i would enjoy this so much but i

really really do I know that's your boy

but he kind of corny i will leave your

dog stretched out like slinky from toy

story