Name: 会計1：プログラム#4「財務諸表入門 (Accounting 1: Program #4 - "Intro to Financial Statements")
Uploaded: 2021-01-14T07:54:15.000Z
Duration: 50 min 30 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

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All right welcome back everybody I know I assigned some homework in regards to transaction

analysis just to repeat a few things that I said last lecture transaction analysis is

to 不定詞

that first skill I want to make sure you guys master. So as we go through these I want you

to be responsible and start to be able to ask yourselves do I really understand this.

With accounting if at any point and you realize I don't know what he's doing I don't know

how to do this. That's when you to come into office hours come into to tutoring folks at

home email me you can come into tutoring as well, but I want to make sure that you don't

let that go on. You don't want to procrastinate with accounting, because everything builds

on each other alright. I kind of gave you some, but I gave them to you in a little different

order didn't I, I kind of gave you my own unique order. What was the first one I gave

you? One-twelve well then let's do exercise one-twelve ok. Ok exercise one-twelve Zelda

began a new consulting firm on January the fifth the accounting equation showed the following

balances after each of the companies first five transactions analyze the accounting equation

for each transaction to describe each of the five transactions so this is a little similar

to the one that we did in class the other day isn't it? The only difference here is

now you kind of look at the balances and see what the change was its not telling you the

change it's actually telling you what the balance is ok. Now the first one transaction

A this is the very first transaction of the business isn't it so everything was zero before

that now cash is twenty thousand Zelda capital is twenty thousand so obviously what happened

here? That's right Zelda invested twenty thousand dollars of her personal money into the business

very good that's A. In B we see that cash went down by a thousand office supplies went

up by fifteen hundred and accounts payable went up by five hundred ok. What happened

there? Look like she bought some office supplies she bought fifteen hundred dollars' worth

of office supplies by paying a thousand dollars cash and the remainder putting on account

or on credit so there's now a account five hundred dollar payable correct. Good C cash

went down by eight thousand and office furniture went up by eight thousand looks like she used

eight thousand dollars cash to buy some furniture for her office is that correct? D let's see

what changed accounts receivable went up by three thousand and revenues went up by three

thousand looks like she provided services to her client on credit and they will pay

her later so she has an accounts receivable ok she will receive money in the future. And

then lastly looks like cash went up by fifteen hundred oh no by five hundred I'm sorry on

transaction E cash went up by five hundred and revenues went up by five hundred. So it

looks like she provided services to a client and they paid her five hundred dollars right

there for the entire five hundred amount worth of services agreed? Alright any questions

on that one? What was the next one I assigned one-ten ok good? Exercise one-ten provide

an example of each transaction that described the detailed effects of separate cases now

some of these have more than one, some of these have more than one. So transaction A

increases an asset and decreases an asset, what do you guys think? There's one or more

answer. Ok a couple of examples that you gave me good you purchased supplies using cash

or you purchased equipment using cash ok very good. Equipment or supplies would go up those

are assets and cash which is an asset goes down. Any others? How about the collection

of an accounts receivable let's say we have a accounts receivable for five hundred dollars

and they paid us cash well the receivable would go down that's an asset, what would

go up, cash that's an asset right? One asset went down one asset went up ok so that's another

an example. Exercise one-ten uh B decreases an asset and decreases a liability what do

you think? Paid something like paid an accounts payable ok good. Paid something that was already

on the books that was payable ok good. So the accounts payable went down and cash went

down any other examples. Paying a note payable really any sort of payable. Paying taxes payable

salaries payable any sort of liability the liability decreases the cash which is an asset

decreases. D increases an asset and increases a liability what do you think? Did I skip

C sorry? Let's go back to C. C decreases a liability and increases a liability this is

kind of a weird one. You thought he was going to try to skip this one and get out of it

right? Decreases a liability and increases a liability ok what do you think? oK and that

sounds kind of weird, but let's say a company had a taxes payable right the IRS started

banging on their door saying you owe us taxes we have a taxes payable on the books. Well

we don't have the cash right now so we go to our friendly bank and we get a loan. So

we can pay our taxes so taxes payable which is a liability goes down, notes payable which

is also liability goes up ok. I'll give you another example I'll give you a couple of

other examples. My wife and I we just refinanced our home we're actually going through the

process right now so we have a mortgage payable at a certain interest rate and were going

to pay that one off with a new mortgage payable why would we do that? Lower interest rate

think we're moving from like four point two five we are getting rid of that mortgage and

were going to three and five eighths, three and five eighths for a mortgage that's unbelievable

ok. So our old mortgage payable is going down our new mortgage payable is going up. The

advantage is decreased interest. Now a company can have a mortgage payable as well can't

they? They can have a mortgage payable on their office building. Or on a big piece of

equipment that wouldn't be a mortgage but you see what I'm saying. One more example,

one more example lets ay my company has an accounts payable for two thousand dollars

to a vendor we have an accounts payable it's a liability for two thousand dollars to a

vendor well let's say we're having a little cash crunch right now. So I go to that vendor

and we worked with that vendor for a long time, and I say hey we are having cash troubles

I know we have an accounts payable to you I know we owe you this money for two thousand

dollars, but you know is there some way we can set up a payment plan or something. Will

usually vendors are very happy if you go to them with, has anybody here have ever done

collections, no pray that you never have to it's not fun. But when people owe you money

if they're having trouble paying you, and they come to you and they want to set up a

payment plan most people are pretty nice about that. Ok so our vendor might say thank you

for doing that here is what we'll do let's get rid of your accounts payable and let's

set up a note payable. And they might have us sign something and let's say let's have

you pay it off over time let's say a couple hundred dollars every month maybe for ten

or eleven months or something like that, and we're going to go ahead and charge you interest

a little bit of interest four percent and since it's going to be paid off over the next

year we go ahead and sign the note so that they feel a little bit better ok. So you don't

have a real old on their books a receivable ok. You see what I'm saying? So we got rid

of our account payable and we set up a note payable with our vendor alright so that's

another example. Ok good any others? Ok now let's go to D increases an asset and increases

a liability. What do you think? Ok good Kara is it Kara? Ok good I'm getting better with

names. Alright we buy office supplies on credit office supplies which is an asset goes up

accounts payable goes up right. What other ones there's some other ones to? How about

getting a loan? Getting a loan from a bank, cash goes up notes payable goes up that's

an asset that's a liability. And actually buying anything on credit right furniture

on credit or whatever ok good. E decreases an asset and decreases equity, decreases an

asset and decreases equity what do you think? There's a few on here too. Ok withdrawing

perhaps cash from the company ok. Withdrawals goes up but equity goes down from our quiz

that we had from our second lecture second or third right? The owner withdraws cash so

cash which is an asset goes down and withdraws is one of those things that decreases equity

very good any other examples for this? Another one would be paying an expense with cash.

Let's say I pay rent expense for the month ok. Well rent expense isn't expenses one of

those things that decreases equity? OK so I pay that rent expense equity goes down and

the cash that I used to pay that rent expense also decreases right? So that would be another

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会計1：プログラム#4「財務諸表入門 (Accounting 1: Program #4 - "Intro to Financial Statements")

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