Normal Balances Simplified | Accounting How To | How to Pass Accounting Class

Normal Balances Simplified | Accounting How To is an accounting tutorial explaining normal balances in accounting. This video answers the question “What is a normal balance in accounting?” And it provides a simple method to help determine if an account should be increased or decreased on the debit or credit side of an account. 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. ⏰ Time Stamps 00:00 Introduction 00:54 Normal Balances Intro 01:22 Accounting Equation 01:41 Assets = Liabilities + Equity 01:56 Liabilities and Equity Explained 02:20 Owner’s Equity Explained 03:50 How Owner’s Equity Increases and Decreases 04:47 Accounting Equation Expanded 05:30 How Normal Balances are Determined 06:39 Normal Balances of Accounts 07:18 Increasing and Decreasing Accounts 7:53 After Eating Dinner, Let’s Read E-books 8:32 Sample Journal Entries Using Normal Balances 11:10 Normal Balances Recap 🎥 How to Pass Accounting Class Playlist