yo yo yo CPA strength here back again
with another video not just any video a
long way off from accounting for
beginners I'm going back
this is accounting for beginners number
94 I have 93 other videos in this
playlist
hence the 94th this is my classic series
is my classic series go over here you
can go hit the card and I'll bring you
to the playlist best accounting pose in
the world I want to try to keep this one
short and simple this is the first
accounting video in my new place so
let's just get into it I want to help
people out and hopefully this will help
people out I think it I know it'll help
someone out let's go to Mike I have a
question I want to answer a question so
leave a question leave a comment leave a
like if you're not subscribed please
subscribe it helps channel out the
comments likes helps channel out yeah I
got a grind hen I got a grind
so oh I just wanted to say before I
started this question thank you for 65
thousand subscribers we just hit 65
thousand subscribers crazy I don't want
to talk too much this video I want to be
informational and answer a question and
have other vlogs and videos and
everything but anyways thank you for
rocking with me thanks for supporting
with me let's go road to 100k let's go
road to 100k let's say this is the
counting question hi I have a question
why are some entries on the rights right
credit side considers that considered
assets now when I was reading that I
liked that he said the right left right
why is the right side why are some
answers on the right side on the right
credit side so the right side is the
credit side yes and that's how C's no
here he knows that that's our
good he says well I thought assets were
only on the debit side he thought the
assets were only on the debit side the
debit side meaning the left so anyways
this that's the question he says why are
assets on both the Left debit side or
right credit side and credits the right
side of what though oh I guess this this
middle this middle line I need to come
up with a name I need to come up with a
name for this line but it's the middle
of the middle line right here
the dammit is left and the credit is
right
now let's go over to my formula dc8 lore
over here I didn't write it all out you
can if you want to know about it because
your first video please watch the
playlist watch some other videos
debit credit debit credit this is a set
draw expense liability equity revenue DC
Aylor we're talking about we're going to
talk about the a which is for assets the
a is for assets here in DC a look now I
know where this I know where this
person's coming from because they don't
I always say DC abler DC abler DC blur I
always give you this formula like it's
you know it's the 4 motor normal that's
all you're gonna be a No
and I understand a for at and at assets
are over here under the debit side so
why is sometimes an asset on the credit
side because I have it in DC their label
over here now for each for debit credit
they don't switch back okay asset draw
expense liability equity revenue can
either increase or decrease all also all
all six of these boxes can either be
increased or decreased
let's just concentrate on the assets
right now all right
an asset is debit left side if
increasing CDCA blurs always here in the
in the positive form everything all DC a
blur is assumed that it's in it's an
increasing level so assets increase
debit expenses increase debit assets
decrease credit expenses decrease credit
anyways assets if an asset is credit on
the right side if decreasing so that's
what the all these line up in the
increasing side and if they're
decreasing you reverse your reverse the
a blur let's just specifically what
we're doing with the assets if
something's where it's labeled in the
positive side or the increasing side all
of these other all of the other boxes
here can be done the same way let's just
focus on assets and his question was why
are some why are some assets on the
credit side when you have it on you have
assets on the debit side lined up over
there on the debit side why are some of
the assets on the credit side because
they're in positive form here so if an
asset is increasing we debited so that
would be hmm we'll just say okay cash or
let's just say checking account cash
checking account alright is increasing
in increasing $500 increasing 500 cash
what else what else is what else is a
may be increasing 10,000 only to be
increasing 10,000 truck that's a fixed
asset of truck cash is a current asset
what's another asset plus 20,000 and
loan to somebody you loan the money to
somebody loan to because alone to money
is an asset loan to shareholder pull to
say well load a shareholder these are
all assets increasing that's why they're
on debit side okay shut it on the green
but let's say let's say here let's say
here we got the credit side why why
would NASA beyond the credit side the
right side if it was decreasing so
instead of subcat we had cash we had 500
cash increasing over here and it was a
deficit a debit so we're gonna have
negative 500 cash and that's going to be
a credit because we're decreasing we're
decreasing or decrease in the asset so
it's a credit now for a truck we sell
the truck we don't have the truck
anymore so now we're gonna have a
negative negative 10,000
truck alright so we have less 7s an
asset is decreasing and the third one is
we've the shareholder paid back the
$20,000 so little owner shareholder
account is reducing because it was
twenty thousand now they now they paid
us twenty thousand so this account is
reducing so it's going to be a credit
I mean loan to shareholder this one's a
little bit trickier okay so this is this
is a nice this is an asset $20,000 loan
to share more that's that's that's
decreasing the loner shareholder account
so if your detents an asset account
alright it's a it's a non-current asset
so if you're increasing the in
increasing an asset account which alone
to shareholder is an asset for the
company because you've got you've owned
it to them and they owe they all back to
you so it's money coming your way so
that's an asset and if it's increasing
we're down again if it's decreases it
kind of decreasing if someone paid you
back the person paid you back to twenty
thousand that would be a decrease in the
largest shareholder count if it's
decreasing in an asset account it's
going to be credit let's just go over
the truck real fast truck fixed asset
you buy you buy a truck to fix the the
truck account between a fixed asset
account would be debited because it's
increasing because you're you're
increasing the account by ten thousand
dollars now you have a new a new fixed
asset worth ten
dollars you sell the truck you get rid
of the truck attends valued at $10,000
or you've got you you get rid of the
truck ins and you get $10,000 for that
fixed asset truck so now in that same
account the truck account it's going to
be decreasing because you're no longer
going to have that fixed accounting more
so it's going to be decreasing you know
by $10,000 so that would be a credit
because you have an asset account
decreasing and same with the cash cash
is a current asset if it's increasing if
you just got some more cash I like to
work with cash flow because it's easier
to guess instinctually see
so anyways cash is an asset if cash is
increasing
that's the debit if cash is decreasing
that's the credit so you can just go
through you gotta figure out with I
guess you gotta figure out a bunch of
different things but one of them is do
you need as an asset draw expense
liability equity revenue what kind of
account is it and is it increasing or
decreasing find those things out then
you'll know if it's on the left or right
side or if it is debit or credit anyways
this video went long enough this was
really fun to be back catch my groove a
little bit anyways thanks for watching
love doing these the love I let y'all go
but at least for about the next 4 months
I'm going to be going super hard
hopefully a lot longer than that anyways
this is this is CPA strength about doses