In this episode, we discuss how each type of account in ALE-RE is affected by journal entries, and we learn the debit/credit language of accounting using A|LE-R|E. The lines separate the types of accounts with normal debit balances from those with normal credit balances.
This is the most important episode to listen to if you are just learning accounting.
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Feb 2019
16 - Closing the Books at the End of the Period (The Closing Process)
Example: You own a sole proprietorship. For this period, you had revenue of $100,000, wage expense of $40,000, and computer expense of $30,000 (net income of $30,000). You also contributed $10,000 to the business this period. Step 1 – Transfer Revenue and Expense items to Income ... Show More
11m 43s
<p class="p1">In this episode, we continue learning more vocabulary related to <strong>school</strong> <strong>supplies</strong>.</p> <p class="p1">And with an exclusive point of view story, you'll learn grammar without memorizing any boring rules.</p> <p class="p1">Remember that ... Show More
