Comment below, what is the fundamental accounting equation?!
@raguljayakumar1177
4 жыл бұрын
Yes... Thats Assets = Capital - Liability 🙂
@ronafortnitenoobie1392
3 жыл бұрын
Assets= Equity + Liabilities
@asmaamohamed6053
Жыл бұрын
Assets=liabilities + owner's equity
@nithishjvj8736
3 жыл бұрын
I'm having an accounting exam tomorrow and just 2 of your videos I'm ready now Thank you so much hero
@michaelcardona7397
Жыл бұрын
Good morning Señor Nathan: The Balance sheet, and the Income statement were simply great, easy to follow and understand; in my class I submitted my first Trial Balance statement, and the Balance sheet along with the stoclkolders equity; I new there would be errors, well I got a full ZERO; however, the professor wants me to resubmit (i'll get 10% off); with your help, I now actually feel more confident and believe i'll do well minus 10%, but that's always better than zero, thanks for your help; your videos do make a difference!
@SurgeEquityResearch
6 ай бұрын
Came across this on my feed - what a fantastic servant you are for the future of finance and accounting. Will share this video with my kids!
@Pielover78
Жыл бұрын
Fantastic video my man. Informative, quick and straight too the point. You just earned yourself a new sub
@FatimaShah-o9l
9 ай бұрын
Is this also called Statement of Financial position?
@JiraiyaHermitMode
4 жыл бұрын
Nice and simple, thanks!
@gabegaming558
2 жыл бұрын
An explanation of what each consists of would be super helpful
@Accountinguniv
2 жыл бұрын
Thanks for the feedback!
@Lizluhv
2 жыл бұрын
This was EXACTLY what I needed!! Thank you so much!
@yunkkim1159
7 ай бұрын
great job dude! you saved me tons of hours
@fairyland2229
4 жыл бұрын
Oh thank you I love this explanation 💖
@mneece22
4 жыл бұрын
Nathan, You are a rock star. Thanks for an outstanding and valuable video explaining the balance sheet. I have one question. "How to calculate Shareholder (Owner) Equity for the balance sheet?"
@bobobobo3142
4 жыл бұрын
You keep track of it from the beginning inside the ledger. Those transactions in which owner invested the money into business, sum all of them and that is owner's equity.
@Accountinguniv
3 жыл бұрын
Yes, absolutely. Great idea for a video!
@williamkanaan7554
3 жыл бұрын
Great stuff man!
@MoonBoyAdino
3 жыл бұрын
Listens to his voice* Yep, sounds like an accountant
@HamzaAhmed_1644
3 жыл бұрын
hey thanks for the vid. and btw u need to fix the ending, because there arnt any videos when it says watch next. :)
@Accountinguniv
3 жыл бұрын
Thanks! Just fixed it :)
@HamzaAhmed_1644
3 жыл бұрын
@@Accountinguniv np!
@shannonmccumber4584
3 жыл бұрын
Would insurance on a building be included as a liability?
@Accountinguniv
2 жыл бұрын
Actually it would be an asset. You buy insurance up front and it becomes a prepaid asset. Then as time passes, that will be used up and expensed.
@imperialwyvern
Жыл бұрын
How did you get those numbers? That you used for the balance sheet.
@yousefhsn180
Жыл бұрын
great video keep it up
@StaciCavalcanteDB
3 жыл бұрын
I am taking a Managerial Accounting Course. Will your Managerial Accounting course help me
@Accountinguniv
3 жыл бұрын
Definitely! Check the link in the description for 85% off 👍
@Accountinguniv
3 жыл бұрын
bit.ly/mgt-acct-review
@fighterpilot12
3 жыл бұрын
What if you only have an account payable amount for an expense when you start your small business? How do you balance that out so it zeros? Not a corporation, no equity.
@Caleb-uu9rb
Жыл бұрын
Yeah I agree with @gabe gaming , how is prepaid insurance an asset? I do appreciate the video though my man a few of them got me through my HW.
@Accountinguniv
Жыл бұрын
Ever buy a prepaid credit card? Well you’re filling that card with funds to be used in the future. Same as prepaid insurance or anything prepaid. Therefore it provides a future benefit, aka an Asset :)
@BenryanALS
3 жыл бұрын
THANK YOU! New Sub here
@dayrad2761
2 жыл бұрын
I’m still lost and confused, anyway someone can help me out 😩?
@roma9769
2 жыл бұрын
what is the name of the 1st sheet that says account debit and credit? that is the first step?!
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