acct2331 at The University of Houston

Videos

1 Cash vs. Accrual Accounting
Some businesses operate on the Cash Basis of accounting, but most are on the Accrual Basis. Cash is super simple, Accrual gets a little trickier.
7:21
2 Expense Recognition
If you pay for something today, should we recognize it as an expense? Well, it depends.
8:07
3 Accruals and Deferrals
What happens when you get cash before you do any work? Or if you do work before you get any cash? That's what we're talking about here!
15:07
4 What is an Adjusting Entry?
What even is an Adjusting Entry? Why do we have to make them?
4:11
5 Adjusting Entry: Supplies
An adjusting entry example using Supplies as the account of interest.
1:54
6 Adjusting Entry: Wages
An adjusting entry example using Wage Expense and Wages Payable.
4:52
7 Adjusting Entry: Unearned Revenue
An adjusting entry example using Unearned Revenue as our medium.
2:11
8 Adjusting Entry: Interest
An adjusting entry example using Interest as the account we care about.
2:03
9 Contra-accounts
A brief primer on what contra-accounts are, and what they aren't.
4:40
10 Depreciation
Our first look at Depreciation. This time, we're just going to look at straight-line depreciation. There's much more to come, but we'll save that for later.
7:10
11 Current Assets
We've already learned about assets, but now we're going to break it down a bit further and differentiate between current and non-current.
9:57
12 Non-Current Assets
We've already learned about Assets, but now we're going to break it down a bit further and differentiate between current and non-current.
10:25
13 Current Liabilities
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
6:24
14 Non-Current Liabilites
We've already learned about Liabilities, but now we're going to break it down a bit further and differentiate between current and non-current.
2:00
15 The Classified Balance Sheet
The Classified Balance Sheet lets us see our assets and liabilities by groups, which gives us a little better overview.
4:48
16 Contributed Capital
Shareholder's Equity is made up of two different components: Retained Earning and Contributed Capital. Here, we try to figure out what contributed capital is all about.
5:10
17 Retained Earnings vs Shareholder's Equity
What is the Statement of Shareholder's Equity? Let's make it up together.
6:41
18 The Multistep Income Statement
The single step Income Statement is what we're used to dealing with, but the Multistep Statement gives us much more visibility into the information that actually matters.
12:44
19 The Closing Process
The Closing Process isn't hard. I dare say that it's even fun. I'll show you why.
10:37
20 Ratios: Working Capital
Ratios help us make comparisons quickly. This video will look at the Working Capital ratio.
2:29
21 Ratios: Current Ratio
The Current Ratio is exceedingly simple, but quite helpful to businesses.
4:00
Chapter 4 →

Practice Problems

Click Here to View All Chapter 3 Problems at Once View
1 Effect on the Current Ratio Easy
2 Closing Journal Accounts Easy
3 Revenue Journal Entry Easy
4 Retained Earnings Easy
5 Revenue Recognition Easy
6 Current Assets Easy
7 Adjusting Entry Identification Easy
8 Revenue Recognition Easy
9 Solving for Missing Amounts Moderate
10 Closing Process Moderate
11 Determining Net Income From Journal Entries Moderate
12 Determining Net Income From Transactions Moderate
13 Adjusting Entry - Salaries Payable Moderate
14 Prepaid Rent Moderate
15 Adjusting Entry - Wage Expense Moderate
16 Revenue Recognition Moderate
17 The Effect of Transactions Hard
18 When You Forget to do Adjusting Entries Hard
19 Account Classifications Hard
20 Revenue and Expense Recognition Hard
21 Calculating Operating Income Hard
22 Adjusting Journal Entries Hard
23 Adjusting Journal Entries Hard
24 Year End Closing & Account Classification Hard
← Chapter 2