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