This man is saving me from resisting my accounting courses in this pandemic
@adapttuition
3 жыл бұрын
Happy to hear that you are finding the videos helpful :) Wishing you all the best for 2021 and beyond!
@dominicgofficial
4 жыл бұрын
I'm learning more about the basics of accounting through your youtube videos than my professor. Thank you for making it easier to understand.
@adapttuition
4 жыл бұрын
Glad I could help! :)
@ericwedderburn2829
3 жыл бұрын
Good luck to all P.O.A students Monday
@adapttuition
3 жыл бұрын
Yes!
@brookieskiess9231
Жыл бұрын
Wait so every year poa exams fall on a monday wow Thanks for the luck
@thareal.5starr
Жыл бұрын
2023 and Poa fell on a Monday🤙🏽
@adapttuition
Жыл бұрын
Yeh, idk who had the bright idea to put PoA 1.) the day after Mother’s Day, and 2.) BEFORE english and maths! Whoever’s in charge of the timetable… fire them, yes. Put somebody who makes a timetable that makes sense.
@zatsudamos2445
3 жыл бұрын
I like the way you took samples from several past questions and show the tutorial and even added additional information with it . keep up !! support from Malaysia !!
@adapttuition
3 жыл бұрын
Glad it was helpful! Thanks so much for watching :) Will continue to put out more content :D
@harshilgudhka6780
3 жыл бұрын
You are a legend i am having my exam in 50 mins
@adapttuition
3 жыл бұрын
Best of luck! Let me know how it goes 😀
@thecrazyguy3053
2 жыл бұрын
You are a Great teacher SIR. I love how you explain. I don't know the exam board this tutorial is for , but IGCSE students can get enough from this. 😊😊😇
@adapttuition
2 жыл бұрын
Hey, thanks very much for that awesome comment :) Super happy to hear that you are enjoying and learning from the videos! Also, extremely glad to hear that IGCSE are using my videos too. Happy to know that no matter where you are in the world you can access helpful content. Wishing you all the best! Keep up the good work 💪🏾🧠
@Breanna1823
Жыл бұрын
Thank God I found this teacher, he makes the subject so enjoyable and easy to understand. For years I hated accounts now I say it's really not that bad you just need the right teacher, thank you Sir
@adapttuition
Жыл бұрын
You are most welcome! I am very happy that you found the videos helpful and that your whole outlook on PoA has changed for the better. Keep up the great work!
@mariagordon1393
3 жыл бұрын
I have Financial Accounting 1 exam today. Your video really help with refreshing my memory and clearing up some of my confusions. Thanks a lot, I feel super motivated by your kind words at the end.
@adapttuition
3 жыл бұрын
Glad it was helpful! Wishing you all the best :)
@justyoua522
7 ай бұрын
bro you just saved my life from my Intermediate accounting professor. thank you so much
@adapttuition
7 ай бұрын
Hey! Super happy to hear you found the videos helpful 😊. Where are you studying?
@justyoua522
7 ай бұрын
@@adapttuition I study at the Kabul University in Afghanistan, we don’t have much facilities here so thank you so much for your help ❤️
@adapttuition
7 ай бұрын
Hey, my friend 😊, you are very welcome! Isn’t it amazing how the internet allows us to connect to anyone, anywhere in the world?! Sending my best wishes and love from Trinidad and Tobago in the Caribbean. Wishing you all the best!
@viraltiktoks703
3 жыл бұрын
Was watching your vids since morning hopefully it gone help out
@adapttuition
3 жыл бұрын
How was the exam?
@soighirdine5409
2 ай бұрын
well explained sir you are the best... thank you
@adapttuition
2 ай бұрын
You are most welcome! Thank you for your kind words 😊 happy to hear that you’re finding the content helpful.
@amandamukandiwa7626
3 жыл бұрын
Love your videos.......I understand way better than at school
@adapttuition
3 жыл бұрын
Happy to hear that you find the videos helpful :)
@berthabweupe6600
2 жыл бұрын
You are a good teacher, thank you for sharing this has really helped me
@adapttuition
2 жыл бұрын
Happy to hear that you found the material helpful! Keep up the good work! You can do it 💪🏽🧠
@jamesaweyo4605
4 жыл бұрын
you are a real teacher....You made me understand these things after a long time of struggle. i am now super.... waiting for a video on the bank reconcilliation statements
@adapttuition
4 жыл бұрын
Happy to hear that :) And, thanks for the compliment, I appreciate it. Oh, and you wanted a video on Bank Recs? I recently uploaded a MCQ video kzitem.info/news/bejne/sXqCzZ58qqehqmU Check it out and let me know if it helps.
@jamesaweyo4605
4 жыл бұрын
Thank you so much. let me watch it, hope it helps as other videos have greatly helped.
@adapttuition
3 жыл бұрын
@@jamesaweyo4605 Did you see the bank reconciliation videos? 😊
@gubs.x
Жыл бұрын
🎉🎉 thanks very much u explain better than my teacher 🙏
@adapttuition
Жыл бұрын
Happy to help :) Keep up the good work!
@mohamedbille1965
3 жыл бұрын
This really awesome you are making me to love this course sir. following from Kenya.
@adapttuition
3 жыл бұрын
😊 happy to hear that. Thanks for watching. Wishing you all the best!
@cawkekaynaanmoha4354
3 жыл бұрын
I really had the sense of one day becoming an accountant but didn't now how, thank God since I started your videos I felt like achieving my dreams,in addition to that I always have a voice of being a teacher too!where can I get these notes?thanks once more
@adapttuition
3 жыл бұрын
Happy to hear that you like the videos and that they're helping you to learn. Which notes are you referring to?
@neversaynever7974
3 жыл бұрын
I've been binge watching from Friday still have the LLC and accounting for Entrepreneurs left 😪
@adapttuition
3 жыл бұрын
You can do it. But get enough sleep
@kwesigadeogratius6004
2 жыл бұрын
thanks for giving back its very great. iam getting it from uganda
@adapttuition
2 жыл бұрын
Thanks for watching, Kwesiga :) Happy to know that you're finding the content helpful!
@ndp885
4 жыл бұрын
Could listen to him all day 😁
@adapttuition
4 жыл бұрын
I appreciate that a lot! Hope you are well and staying safe and healthy :) Glad to see you are still learning :)
@akg2n
3 жыл бұрын
Sounding rel trini. Good video thanks.
@adapttuition
3 жыл бұрын
Thanks for watching! :)
@maryamrizvi4111
2 жыл бұрын
Hello sir,, thank you so much for making accounting a lot easier and fun. I have a question. Could you upload a session focusing on capital account only. Also sir, can I know the adjustments that has to be done if a partner retires from a partnership business and adjustments for goodwill and loans of partnerships? These are the ones I find very difficult 😭
@adapttuition
2 жыл бұрын
Hi Maryam! Thanks for your comment. Those items you are asking for are on the Advanced level syllabus and yes they can be quite tricky. I have a list of topics I’m working my way through and unfortunately the content you asked for won’t be made for a while 😕 I am sorry about that.
@maryamrizvi4111
2 жыл бұрын
@@adapttuition Oops, okay sir. I'll figure out sth! Thank you tho sir,, this video is really helpful! ❤️💪 Also, thank you for the quick response sir!
@adapttuition
2 жыл бұрын
When I was having issues with those items you mentioned I found some content here in youtube that helped but… the person’s voice was boring so I had to watch the video in pieces and take notes to break up the boredom.
@maryamrizvi4111
2 жыл бұрын
@@adapttuition Oh okay sir,, I'll search up for those and break into chunks if I find it boring 💪😁
@adapttuition
2 жыл бұрын
Best of luck!
@tryphinekamfwa6954
3 жыл бұрын
Your video are very helpful....thank you so much and keep up the good work
@adapttuition
3 жыл бұрын
Thanks, will do!
@annaleatumutoa9773
4 жыл бұрын
Thank you sir for your videos. It is sooo clear and simple to understand. Love it. Are you able to make a video on journal entris for partnership distribution of profit or loss?
@adapttuition
4 жыл бұрын
Thanks for the compliment! It's my pleasure to be of help :) Here is a link to my playlist for partnerships kzitem.info/door/PL9u_QIMhElluUfYtC6xoM73R2UVPOQNTS I haven't yet done a video specifically of the type you're asking for but if you take a look at these they may be able to help. Where are you from and when are you doing PoA?
@nikhilkanade34
4 жыл бұрын
Hi sir, i loved this video and also the video on appropriation accounts, i have a request, may you please make a video on control accounts, i am facing difficulties in it. And you are the best of the best, keep up the good work, and thanks for helping me 💞💞
@adapttuition
4 жыл бұрын
Already uploaded kzitem.info/news/bejne/23hj0mZjo4WreKw Enjoy! and let me know if you have any questions!
@nikhilkanade34
4 жыл бұрын
@@adapttuition I sure will, You are the best, thanks for making accounts fun again
@leitsdowtis8018
3 жыл бұрын
Can you please explain the difference between capital and current account? Like which entries we have to put in a capital account that we dont have to in a current account (or if theres even any entry like that at all,idk), otherwise both capital and current accounts look the same to me Great video btw. Solved most of my problems
@adapttuition
3 жыл бұрын
Hi! Current accounts are used to record the partners’ earnings and withdrawals. These items could be recorded directly in the capital accounts instead and if so we would not use the current accounts. Current accounts are used where we want to keep the capital balances fixed. Most csec questions require current accounts and hardly any of them ever send the earnings and withdrawals to the capital account. They usually require the current accounts to be used. Hope that helps.
@leitsdowtis8018
3 жыл бұрын
@@adapttuition oh alright. Thank you for explaining. Keep up the good work
@adapttuition
3 жыл бұрын
My pleasure 😊 Thanks for watching and asking good questions! Keep it up! 😊
@OBEDTWENE-AFRAM
Жыл бұрын
Wow your teachings are amazing 👏 👏 👏
@adapttuition
Жыл бұрын
That’s very nice of you to say, thanks 😊 Glad you’re finding the content helpful!
@ajesowuonuifeanyivictor7363
Жыл бұрын
Wow this is incredible, next week Acc102 examination will be cool😇
@adapttuition
Жыл бұрын
Happy to hear that my friend! Keep up the good work 😊
@ajesowuonuifeanyivictor7363
Жыл бұрын
@@adapttuition yeah keep up the good work🫡
@adapttuition
Жыл бұрын
Will do 😊
@edrisacolley1861
4 жыл бұрын
Thanks for the video My question could center on current accounts if you open a partnership current account and balance the account which balance should taken to the balance sheet 1. Opening balance 2. Balance bd
@adapttuition
4 жыл бұрын
Hi! That's a very good question. I would say it depends on the date on which the balance sheet is being drawn up. If for example the balance sheet is being drawn up at the start of the year then the balances from the accounts on that same date would be entered in the balance sheet. If however you are drawing up a balance sheet at the end of the year then the year-end balances (the balances you get after balancing off the accounts) would be put in the balance sheet. Hope that helps :) Where are you from and when are you sitting the PoA exam?
@laura4pf
11 ай бұрын
Hi sir, I have a question about the format of the current account..the one my teacher is doing is balancing off each partner at the end. could you by chance let me know if this is correct and if so can you please make a video explaining it
@adapttuition
11 ай бұрын
Hi! There are different ways to do the current account. I thought I did it a couple different ways in this video: separate t-accounts, combined t-accounts and the single column approach. Could you describe the format your teacher is using a bit more? You can send me a pic either on Instagram or via email
@maureentyler3373
Жыл бұрын
Thank you♥️
@adapttuition
Жыл бұрын
You’re welcome 😊 Keep up the good work, Maureen!
@imtiyazahmedmullick524
2 жыл бұрын
I have a question i m sure wether u gonna reply or not..anyways. moving to question.... The question...is that..they ask me to prepare Statement of profit or loss and other comprehensive income , then appropriation account for the year, and also current account., and at last statement of Financial position.. .. So ultimately the thing is that they have given a percentage on current account .. should i add that percentage amount on approprtion account along side with NP and Interst o drawings..and the format continus
@adapttuition
2 жыл бұрын
Hi! If the percentage is an interest on the current account balance I would consider it an appropriation like interest on capital.
@melodydeng6599
3 жыл бұрын
lifesaver
@adapttuition
3 жыл бұрын
Happy to help!
@britfaulkner12
Жыл бұрын
Is it the same principle? Increase capital with credit and decrease capital debit
@adapttuition
Жыл бұрын
Hi Britney :) That's correct! Increase with a credit and decrease with a debit.
@famousproductions3150
Жыл бұрын
Good day sir How did you get the capital balances in the balance sheet extract ??
@adapttuition
Жыл бұрын
Hi 😊 At about 12:20 in the video you’ll hear me say, “I made up the figures”.
@folatyson3105
2 жыл бұрын
Is balance at start the same thing as current balance? Is that what they want us to put on the credit side of our current Acc?..
@adapttuition
2 жыл бұрын
The balance at start is the opening balance in the current account. In other words it's the balance at start in the current account.
@NonduduzoMabaso
Жыл бұрын
How did you get the balance
@Ms.Meritza
7 ай бұрын
Thank you!!
@adapttuition
7 ай бұрын
You're welcome! Glad you found it helpful! What part of the video did you find had the biggest impact or “aha” moment for you?
@Ms.Meritza
7 ай бұрын
The entire video was interesting as I'm on that topic in class, the vertical format was the aha moment 👍👍. 🇻🇨 Private candidate. Thank you!
@adapttuition
7 ай бұрын
@Ms.Meritza happy to hear that! Not sure that they like ppl using the vertical format for CSEC but I find it so convenient especially for the balance sheet! I also have paper 3 solutions available on my channel which as a private candidate you might find helpful!
@larraann2951
Жыл бұрын
Sir, i have a question about loan. A, B and C are partners. On (some time) B decided to retired. Then C gave a loan to a partnership (the loan was made 5 months after B retired). I have to make current account for B...does the loan have anything to do in the B's current account?
@adapttuition
Жыл бұрын
Hi @larraann2951 That's a great question. Generally, the amount of the loan will be transferred from the partner's Capital account. Also, if B retired then there's no need to make a current account for B. He or she is no longer a partner.
@larraann2951
Жыл бұрын
@@adapttuition And what if D is admitted at the same day of B retirement. And I have to do capital account for D does the loan have anything to do with his/her capital account? Or the loan just have anything to do with the person who gave the loan which is C?
@AichaBility-ti1cq
Жыл бұрын
when a partner is given a commission what shape will the appropriation and current take?
@adapttuition
Жыл бұрын
Hi, this in an interesting question. Thanks for asking it. I suppose it depends on how the partnership classifies the commission. If it classifies the commission as a distribution to the partner, then it will be included in the appropriation account like interest on capital and salary. Further, it will also be included on the credit side of the current account like all of the other earnings items. If, however, the partnership classifies the commission as an expense, then the appropriation and current accounts will be unaffected. The commission will be paid the partner as if they were an employee and it would not be considered partner's earnings (distributions) from the partnership. This is my best guess as I've never encountered this before. Hope it helps.
@safiyamohamed3350
2 жыл бұрын
can u do the balance sheet for partne rships and some paper 3 for private candidates
@adapttuition
2 жыл бұрын
Hi 😊 this video shows how to do the capital section of the balance sheet. The rest of the balance sheet remains the same. You can check out my balance sheet playlist and the past paper solutions 😊 And re the paper 3s: sorry, but I just finished doing 100 videos in 100 days and I need to take a break to focus on my exam classes as they prep for exams.
@royalkandiag6807
Жыл бұрын
Hey Sir is 6:23 the columnar form? I can't remember if you mentioned the name of the format itself.
@adapttuition
Жыл бұрын
Hey @royalkandiag6807 I thought it was the columnar form but apparently, the columnar form is the t-account format (color me baffled). I just call the is the "single-column" approach.
@royalkandiag6807
Жыл бұрын
@@adapttuition Okay no problem *goes to her notes and make that change lol*
@sayeedakram4798
Жыл бұрын
Need a tutorial for Partnership Balance sheet format individually.
@adapttuition
Жыл бұрын
kzitem.info/door/PL9u_QIMhEllv09b3EnxcupBc8WjjFvuGb Check that playlist for balance sheet tutorials. Partnerships have the same assets and liabilities section as sole traders, but the capital section is different. That's what I was showing in this video, the capital section. You can always check the May 2016 P2 Q1 for a full partnership balance sheet.
@sayeedakram4798
Жыл бұрын
@@adapttuition Thanks.
@adapttuition
Жыл бұрын
Happy to help!
@allisonfraser2742
2 жыл бұрын
What does it mean by to calculate net worth?
@adapttuition
2 жыл бұрын
Hi, I actually answered that question in a few of the past paper solutions I put up recently. But in the context of a partnership it’s simply the sum of the partner’s capital and current account balances.
@britfaulkner12
Жыл бұрын
Sir im getting confused because idontkno whats to be debited or credited
@adapttuition
Жыл бұрын
Hi :) I explain in the video what goes on each side of the control account :)
@folatyson3105
2 жыл бұрын
Here again 🤓ok so at 8:52 : When they word it like " the current account for each partner complete with balances" is the the format that they are talking about to use in the exam? Or something else
@adapttuition
2 жыл бұрын
Hi Fola, they simply want you to do the current account for each partner and are reminding you to include the balances at start and at end.
@folatyson3105
2 жыл бұрын
@@adapttuition thanks
@adapttuition
2 жыл бұрын
😊
@yumicoedits7888
2 жыл бұрын
Do we always put the salary in the current account because my teacher didn't put the salary in the current account for one example. Can you explain this please
@adapttuition
2 жыл бұрын
Hi, as far as I know the salary for any partner goes in their current account. To answer your question I’d have to see the question to which you are referring. You can send it to me on Instagram @adapttuition
@yumicoedits7888
2 жыл бұрын
@@adapttuition thank you
@adapttuition
2 жыл бұрын
Happy to help!
@blessingbee661
3 жыл бұрын
But how do u account for that when given different accountiy periods
@adapttuition
3 жыл бұрын
It depends on the details and requirements of the question. You can message me on instagram @adapttuition and I'll take a look.
@DempsisPowell42
2 жыл бұрын
hello when you do a appropriation account do you get the information from their to do the current account?
@adapttuition
2 жыл бұрын
Hi, Yes! The info from the appropriation account can be used to prepare the current accounts. But you can probably just as easily do the current accounts if you have the information to do the appropriation account. Hope that helps 😊
@Destina.luxura
2 жыл бұрын
Good day Sir, is this correct a credit balance on the current account suggests that the business owes the partner that amount of money while a debit balance on the current account suggests that the partner owes the business that amount of money?
@adapttuition
2 жыл бұрын
Hi! So, that is one way of articulating that. :) The current account shows the earning and withdrawals of the partner from the partnership. Earnings are credits and withdrawals are debits. If there is a credit balance that means that there is a surplus on the current account. The partner has more earnings that withdrawals. And, yes, the partnership has to pay that to the partner. The reverse is true. A debit balance means there was more withdrawals than earnings and the partner needs to "cover" that deficit. Hope that helps!
@Destina.luxura
2 жыл бұрын
@@adapttuitionGreat I understand now thanks!
@adapttuition
2 жыл бұрын
Happy to hear that 💪🏽🧠
@syarifahfatmatuzahraabinti5111
Жыл бұрын
hi, just a question, is balance at start same with capital that the partners invest in the business?
@adapttuition
Жыл бұрын
Hi 😊 it can be, yes However this assumes a fixed capital account is maintained for each partner. Under this scenario earnings and withdrawals are passed through partners’ current accounts. If however they use fluctuating capital accounts, then the earnings and withdrawals are passed through the partners’ capital accounts and the capital balances will fluctuate over time.
@syarifahfatmatuzahraabinti5111
Жыл бұрын
@@adapttuition ohhhh i see, thank you!
@adapttuition
Жыл бұрын
Happy to help
@breannaharry4042
2 жыл бұрын
thank you thank thank thanks. Can you do cooperates, I am not finding any videos.
@adapttuition
2 жыл бұрын
You’re welcome, Breanna 😊 Check out this playlist for Cooperatives: Cooperatives (Past paper questions) kzitem.info/door/PL9u_QIMhEllt5tWNJH43WWIqNQhZVQ2lT
@kamozachambakale5262
3 жыл бұрын
I HAVE PROBLEMS ON PREPARING THE BALANCE SHEET
@adapttuition
3 жыл бұрын
Sorry to hear that. I think a lot of students have issues with it. I have a few videos up on balance sheets. You should check them out. You can always refer to your text and notes as well.
@Lucknow472
3 жыл бұрын
Hello sir, I have a doubt, could we possibly say that the current accounts use the nominal rule?
@adapttuition
3 жыл бұрын
Hi! I'm not sure what you're referring to when you say the nominal rule as I've never heard of it. I have heard about nominal accounts which are accounts that are closed off at the end of each period. The current accounts are most certainly not nominal accounts as their balances remain on them for the life of the partnership. But we do credit them to record the partners' earnings and debit them to record the partners' withdrawals.
@Lucknow472
2 жыл бұрын
@@adapttuition oh hi sir!! By nominal rule meaning, debit the expenses and losses and credit all income and gains, can we specify this rule to the current account?
@adapttuition
2 жыл бұрын
The current account is used to show the partner’s earnings and withdrawals from the partnership and follows the same rules as the capital account t.
@Nia-wx5ot
3 жыл бұрын
how did you get your 65,000 because I am confused
@adapttuition
3 жыл бұрын
Hi :) To what part of the video are you referring? It would help if you put the time stamp like this: If you type 04:20 it will give me a link to click on to go to that part of the video for me to see exactly what you are asking about. Otherwise I have to search through the entire video hoping I find the figure you are talking about.
@adapttuition
3 жыл бұрын
Are you talking about the 05:00 time when I balanced off the current account for Readum?
@Nia-wx5ot
3 жыл бұрын
@@adapttuition yes i was talking about 05:00, i understand everything until u got to that part and added the 65,000
@adapttuition
3 жыл бұрын
Hi, that’s just the balance in the account at the end of the period. To balance off an account you have to: • find the total on the debit side, • find the total on the credit side, • find the difference between them, & • add this to the side with the lower total to make both sides equal. So in this example the difference between the debit side and the credit side was $65,000 and that’s where that figure came from. Hope this helps 😊
@Nia-wx5ot
3 жыл бұрын
@@adapttuition omg thank you so much btw your a great teacher I wish you were the one teaching me or I would love to get teaching lessons from you
@nurmaizatulashira2410
3 жыл бұрын
i got net loss at appropriation account. so loss shared should be record on current account in debit or credit side? or still record at credit side but decrease?
@adapttuition
3 жыл бұрын
Hi :) If there is a loss to be shared then it would be put on the debit side of the current account. We don't put decreases/negative figures in t-accounts. Hope that helps :)
@shania-h8b
Жыл бұрын
Hello. If I have fixed capital account provided. And it is stated that a particular partner brings in additional capital. Which change should I bring to my financial statements? Especially for the capital section..
@adapttuition
Жыл бұрын
Hi, fixed capital accounts simply means that we don't record any earnings or withdrawals directly to the capital accounts, we use the current accounts for that. If a partner brings in additional capital then his/her capital account will reflect that increase. This will be shown in the balance sheet's capital section. And it will probably end up affecting the appropriation account as the interest on capital will likely be higher. Hope that helps
@shania-h8b
Жыл бұрын
@@adapttuition Got it! Thank you so much for your help. All of your videos have been very helpful so far. Currently studying for the GCE exams :)
@adapttuition
Жыл бұрын
Very happy to hear that Shania 😊 Good luck! And if you have anymore questions please feel free to let me know.
@shania-h8b
Жыл бұрын
@@adapttuition Sure! Thank you so much😊
@adapttuition
Жыл бұрын
👍🏽😊💪🏽🧠
@darksugar1980
6 ай бұрын
I have a paper I would love to share with you. Where can I send you
@adapttuition
6 ай бұрын
Hi! What paper is that? A csec paper? you can email me chris@adapttuition.com
@trishannabhagaloo1642
4 ай бұрын
Does it matter which layout you use?
@adapttuition
4 ай бұрын
Not unless the question specifically asks for a particular one, no. Which format do you like to use?
@trishannabhagaloo1642
4 ай бұрын
@@adapttuition The one with the 2 names on both the credit and debit side. I believe its called the columnar style, I never used the vertical current account before but I saw you were doing in one of your videos.
@adapttuition
4 ай бұрын
@trishannabhagaloo1642 yeh, the columnar one is the best bet. The vertical style is really for presentation of current account details in the balance sheet
@trishannabhagaloo1642
4 ай бұрын
@@adapttuition Ok thanks sir
@Korruplee
3 жыл бұрын
is current account consider to be "Asset, Liability, Capital, Revenue, Expense, Profit, Gain" ??
@adapttuition
3 жыл бұрын
It is capital adjacent
@Korruplee
3 жыл бұрын
@@adapttuition okay. sure we not talking math here 😁 😁 😁. what do you mean by "adjacent" sir???
@adapttuition
3 жыл бұрын
The current accounts are used to record the earnings and withdrawals of the partners that would otherwise be put in the capital accounts. So essentially they are accounts used to show movements in capital So they are capital accounts in a manner of speaking
@Korruplee
3 жыл бұрын
@@adapttuition okay understood thank you!
@hmsports1668
3 жыл бұрын
i saw some examples from my book they put salaries paid on debit side tooo plz can you confirm if this is correct or not
@adapttuition
3 жыл бұрын
Hi, just to confirm, you're saying that the examples in your book put the partners' salaries on the debit side of their current accounts?
@hmsports1668
3 жыл бұрын
@@adapttuition yeah salaries paid on debit side and salaries on credit side
@adapttuition
3 жыл бұрын
I have never encountered salaries on the debit side of the current account. Usually the double entry for salaries is: DR Appropriation account CR Current account Maybe that's what you're seeing?
@hmsports1668
3 жыл бұрын
@@adapttuition it was written salaries paid then the amounts is same on credit the book I am using I the ial accounting book
@adapttuition
3 жыл бұрын
Maybe you could send me a pic or two showing the stuff you're talking about from your text? If you have instagram you can message me @adapttuition
@faithcarolakinyi2147
Жыл бұрын
Can you please do for me a financial accounts for Limited Company
Where did you get your 250,000 for your capital balances?
@adapttuition
2 жыл бұрын
Maybe listen to what I say at 12:19
@folatyson3105
2 жыл бұрын
@@adapttuition oh ok you made it up, but it's usually the figures they give you as your capital at the being?
@folatyson3105
2 жыл бұрын
@@adapttuition also when they ask in the exam to " prepare the partnership capital and current account for year ending" Can I use any of the formats you used in this video or are they asking for something else separate?
@adapttuition
2 жыл бұрын
Correct Re the capital balances at start usually being given 👍🏽😊
@adapttuition
2 жыл бұрын
The current accounts formats here can be used, yes. Capital accounts aren’t usually used because if they’re using current accounts then they’re not recording any changes to the capital accounts. But I’d have to see the question to be sure.
@brit7627
3 жыл бұрын
sir how do i crete fluctuating accounts for the individual partners?
@brit7627
3 жыл бұрын
fluctuatiing capital
@adapttuition
3 жыл бұрын
Hi, so you would simply put all the items that would normally go in the current account in the capital account instead. They would go on the same sides as they would in the appropriation account. Oh, and don’t forget to include the opening capital balances.
@brit7627
3 жыл бұрын
@@adapttuition sir hello again is the profit suppose to be on the credit side? but if it's a loss it's on the debit?
@adapttuition
3 жыл бұрын
Yes, that’s correct.
@unknowngamers8654
4 ай бұрын
Why kip a line though?
@adapttuition
4 ай бұрын
That’s just a style/format choice.
@liliamorancie-browne5039
4 жыл бұрын
Is interest owing on a partner's loan credited to his current account?
@adapttuition
4 жыл бұрын
Lilia Morancie-Browne hey, that’s a really good question. I had to google that because it hasn’t come up in such a long time. My initial response was no because the interest on the loan is not earnings from the partnership in the sense of other earnings like interest on capital, salary or share of profit. And double entry wise I am thinking you would: Dr: interest expense Cr: Bank/ Accrued Interest However, I did see some responses online that said the interest on the loan from the partner would be credited to the partner’s current account. I have my doubts about that but like I said I haven’t dealt with that aspect in years so I don’t want to discount the possibility. But my gut tells me it’s not credited to the current account
@liliamorancie-browne5039
4 жыл бұрын
@@adapttuition Thanks much
@adapttuition
4 жыл бұрын
@@liliamorancie-browne5039 hope that helped :)
@pareena9369
3 жыл бұрын
is interest on loan included in current accounts?
@adapttuition
3 жыл бұрын
Hi! Interest on loan is an expense and as such is not included in the partners' current accounts. Even if the partner makes a loan to the partnership the interest is not part of the partner's earnings from the partnership, at least not in the same way that interest on capital, his/her partnership salary, or the share of profit is.
@pareena9369
3 жыл бұрын
@@adapttuition thanks
@adapttuition
3 жыл бұрын
@@pareena9369 You're very welcome :)
@asia-marigranger143
4 жыл бұрын
Hey sir me again can you so company accounts like cooperations etc thxs✌💞🤗
@adapttuition
4 жыл бұрын
Asia-Mari Granger companies is next in my list! Look out for it dropping next week.
@1don_tye
2 жыл бұрын
Watching in 2021
@adapttuition
2 жыл бұрын
Thanks very much for watching! Hope you found the video helpful!
@TeresaAuma-e5z
7 ай бұрын
Can I post a question yo do to me
@adapttuition
7 ай бұрын
Hi :-) Normally, I'd say yes, but recently I have become very busy with other projects so unfortunately I'd have to decline. Sorry about that. Hope you get through with finding help though
@TheAvaricious.
3 жыл бұрын
where did the balance c/d come from
@adapttuition
3 жыл бұрын
That is calculated by finding the total on the credit side, finding the total on the debit side and then subtracting one from the other
@TheAvaricious.
3 жыл бұрын
@@adapttuition alright thanks
@adapttuition
3 жыл бұрын
@@TheAvaricious. You're welcome :)
@butterflygirl4771
2 жыл бұрын
💜💜💜💜💜💜
@adapttuition
2 жыл бұрын
😊💪🏽🧠
@akhilvadakkan3530
Жыл бұрын
🤗🤗🤗🤗🤗
@adapttuition
Жыл бұрын
Happy to help, Akhil! Keep up the good work!
@janetbuchanan8788
4 жыл бұрын
Hi Chris, can you do Csec Poa Question 4b of May / June 2017.
@adapttuition
4 жыл бұрын
Hi! I have a solution up on my Facebook page for that paper. Check it out and if you still have any questions please feel free to let me know.
@TikTokJA-t9m
3 жыл бұрын
Why don’t all the csec students subscribe ?🤨
@adapttuition
3 жыл бұрын
:D I suppose because they don't all do PoA. But i catch your meaning. Thanks :)
@selestinekanaitsa5117
Жыл бұрын
But salary is a debit man
@adapttuition
Жыл бұрын
Hello @selestinekanaitsa5117 :-) Thank you for your comment/question. I ask you to consider the following: - In the SALARY expense account you would indeed enter a debit to record the total amount paid in respect of salary expense, - Partnership salaries are NOT expenses but appropriations of profit, - As such, there is not salary account involved here, - So the DEBIT is to the appropriation a/c - Every debit needs a corresponding credit, - The account shown in the video is NOT the salaries account, - The account shown in the video is the partner's CURRENT account, - As I say in the video, this account shows the earnings of and withdrawals by the partners for the reporting period, - Since the current account is the OTHER account affected by this event, we would CREDIT it in respect of the partner's salary that has been earned, - This means that the double entry to record the partnership salary is: DEBIT Appropriation a/c CREDIT Current a/c Also, might I suggest looking at the Partnership Appropriation account video to help with your understanding of partnerships? Again, thanks for your comment and have a great day :-)
@ms.abraka601
2 жыл бұрын
Kindly give us examples
@adapttuition
2 жыл бұрын
Hi, I give quite a few examples in the video… as a matter of fact, I show examples through the entire video. So I’m a bit confused by your comment. Is there something specific to which you are referring when you say “give us examples”?
@mohammadabaubakar4659
3 жыл бұрын
Manz
@adapttuition
3 жыл бұрын
👍🏽😊
@vinodtalikoti63
4 жыл бұрын
Speaking suffer
@adapttuition
4 жыл бұрын
vinod talikoti, hi, I am not sure what your comment means. Is there something you’d like to ask a question about?
@thecrazyguy3053
2 жыл бұрын
You are a Great teacher SIR. I love how you explain. I don't know the exam board this tutorial is for , but IGCSE students can get enough from this. 😊😊😇
@adapttuition
2 жыл бұрын
Hey, thanks very much for that awesome comment :) Super happy to hear that you are enjoying and learning from the videos! Also, extremely glad to hear that IGCSE are using my videos too. Happy to know that no matter where you are in the world you can access helpful content. Wishing you all the best! Keep up the good work 💪🏾🧠
@thecrazyguy3053
2 жыл бұрын
You are a Great teacher SIR. I love how you explain. I don't know the exam board this tutorial is for , but IGCSE students can get enough from this. 😊😊😇
@adapttuition
2 жыл бұрын
Hey, thanks very much for that awesome comment :) Super happy to hear that you are enjoying and learning from the videos! Also, extremely glad to hear that IGCSE are using my videos too. Happy to know that no matter where you are in the world you can access helpful content. Wishing you all the best! Keep up the good work 💪🏾🧠
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