Accounting Made Simple by 30 Examples

Accounting Made Simple by 30 Examples udemy course

Beginner friendly 30 Examples with animations, examining book keeping entries

We will simplify how to make journal entry records, debit- credit accounts, which accounts are assets and which are liabilities.

As we move further, we will make more complicated entries, so hurry up :)

Contents: (All with journal entry examples)

1) Cash Sale: Journal Entry for cash sale

2) Inventory Purchase : Journal Entry for Inventory Purchase

3) Fixed Asset Sale: Selling a fixed asset

4) Service Sale: Selling a service

5) Bank Loan Usage: Using a bank loan

6) Sales with Credit: Again we sell, but this time with credit (journal entry)

7) Collection: Collecting the receivable in example 7

8) Bad Debt: What journal entry do we do if we can not collect money?

9) Sales Discount: We make a sale with discount

10) Depreciation (Straight Line Method): Basic application of depreciation

11) Compound Interest: Compound interest over many years

12) Purchasing a fixed asset with interest rate: Paying the interest

13) FIFO method: Most popular cost calculation method

14) Weighted Average method: Important cost calculation method

15) LIFO method: Important cost calculation method

16) Sale with advance: Sale with advanced received previously

17) Bad Debt allowance: Directing bad debt to income statement

18) Calculating Inventory

19) Cost of Goods Sold (Journal Entry)

20)  Calculating Inventory Turnover Rate: Ratio for inventories

21) Invesment in available for sale securities: Short term investment

22) Investment in another company (%20- %50): Investment that does not give you majority

23) Investment in another company (above %50): Investment giving you majority

24) General Ledger: A general look

25) Depriciation (Declining balances): Second alternative depreciation method

26) Distribution of cash dividends: Distributing the profit to investors

27) Current Ratio

28) Leverage

29)  Receivable Turnover Rate

30) Payable Turnover Rate.