| 1 |
Current Assets
We've already learned about assets, but now we're going to break it down a bit further and differentiate between current and non-current.
|
9:57 | |
| 2 |
Non-Current Assets
We've already learned about Assets, but now we're going to break it down a bit further and differentiate between current and non-current.
|
10:25 | |
| 3 |
Current Liabilities
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
|
6:24 | |
| 4 |
Non-Current Liabilites
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
|
2:00 | |
| 5 |
The Classified Balance Sheet
The Classified Balance Sheet lets us see our assets and liabilities by groups, which gives us a little better overview.
|
4:48 | |
| 6 |
Cash vs. Accrual Accounting
Some businesses operate on the Cash Basis of accounting, but most are on the Accrual Basis. Cash is super simple, Accrual gets a little trickier.
|
7:21 | |
| 7 |
Expense Recognition
If you pay for something today, should we recognize it as an expense? Well, it depends.
|
8:07 | |
| 8 |
Accruals and Deferrals
What happens when you get cash before you do any work? Or if you do work before you get any cash? That's what we're talking about here!
|
15:07 | |
| 9 |
What is an Adjusting Entry?
What even is an Adjusting Entry? Why do we have to make them?
|
4:11 | |
| 10 |
Adjusting Entry: Supplies
An adjusting entry example using Supplies as the account of interest.
|
1:54 | |
| 11 |
Adjusting Entry: Wages
An adjusting entry example using Wage Expense and Wages Payable.
|
4:52 | |
| 12 |
Adjusting Entry: Unearned Revenue
An adjusting entry example using Unearned Revenue as our medium.
|
2:11 | |
| 13 |
Adjusting Entry: Interest
An adjusting entry example using Interest as the account we care about.
|
2:03 | |
| 14 |
Contra-accounts
A brief primer on what contra-accounts are, and what they aren't.
|
4:40 | |
| 15 |
Depreciation
Our first look at Depreciation. This time, we're just going to look at straight-line depreciation. There's much more to come, but we'll save that for later.
|
7:10 | |
| 16 |
The Closing Process
The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.
|
10:37 |
| Click Here to View All Chapter 3 Problems at Once | View | ||
| 1 | Closing Journal Accounts | Easy | |
| 2 | Adjusting Entry Identification | Easy | |
| 3 | Current Assets | Easy | |
| 4 | Revenue Journal Entry | Easy | |
| 5 | Revenue Recognition | Easy | |
| 6 | Revenue Recognition | Easy | |
| 7 | Determining Net Income From Transactions | Moderate | |
| 8 | Revenue Recognition | Moderate | |
| 9 | Adjusting Entry - Wage Expense | Moderate | |
| 10 | Closing Process | Moderate | |
| 11 | Determining Net Income From Journal Entries | Moderate | |
| 12 | Adjusting Entry - Salaries Payable | Moderate | |
| 13 | Prepaid Rent | Moderate | |
| 14 | When You Forget to do Adjusting Entries | Hard | |
| 15 | The Effect of Transactions | Hard | |
| 16 | Account Classifications | Hard | |
| 17 | Revenue and Expense Recognition | Hard | |
| 18 | Adjusting Journal Entries | Hard | |
| 19 | Adjusting Journal Entries | Hard | |
| 20 | Year End Closing & Account Classification | Hard |