3 years ago

#AdjustingEntries #Accounting #BasicsOfAccounting
In this episode we help explain the basics of accounting adjusting entries. Everything from different accruals to different prepaids. We then run through some examples that you come across in your studies and monthly accounting to help you understand the topic.

Those examples of adjusting entries are:
- Supplies Adjustment
- Accounts Receivable Doubtful Accounts
- Monthly Depreciation Entry
- Prepaid Insurance
- Prepaid Revenue / Deferred Revenue
- Expense Accrual
- Revenue Accrual

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0:00 Intro
0:16 Defined and Explained
1:18 Matching Principle
1:55 Supplies
2:38 AR Doubtful Accounts
3:04 Depreciation
3:30 Prepaid Expense
3:56 Deferred Revenue
4:57 Accrued Expense
5:43 Accrued Revenue
6:15 Outro