Video instructions and help with filling out and completing Fill Form 8815 Accrued

Instructions and Help about Fill Form 8815 Accrued

Yo yo yo what up fam strongest CPA in the state of Florida I'm back again what up fam this is a HB 34 this is my classic series this is the best accounting series in the world accounting for ever you guys started for if this is your first time I will link a playlist over here to the best place in the world if you're back you know what it is let it in okay best shirt in the world is it count for beginners number 34 what is that train think Quatro hair on fleek all right as a count accounting for beginners number 34 series boy classic series adjust the entries Jenna for beginners number 34 the classic series this would be if you're doing a crude basis you'd write journal entries for a crude letter between cash and accrued its cash cash basis when you're when the cash hits your sticky little hands we'll go over that later don't worry about that now this is just basically I'm going through all the adjusting entries and I'd be a mess if I'd leave accrue revenue out even though I don't really use a crude revenue which well I got a good night's sleep last night so I'm feeling warm so we're going to a crude revenue today let's go with the definition of a crude revenue in the book unrecorded revenue that has been earned all right so I did some work I just some work did some work what happens when you when you do work for somebody get money get some chippers we're my chippers at me but cash has not been received why give my freaking money man you're gonna get you know hey you do a journal and do a journal entry for for a crude revenue or it's gonna say you know you earned the money you did the work but you didn't get paid what was the journal entry be it's always the journal entry it's always going to be Journal true what's the journal entry gonna be what is the journal that you're gonna be now I wrote this on my paper every day accrued equals no cash for maybe year okay I wrote a crude equals no cash every you know first month I didn't know and then all sudden I started getting to you know the dudes are do a general tree you earn the money but you didn't get cash you earned you earned to earn the revenue did the work but you didn't get any cash and I wrote i order crude equals no cash on my paper every day for like a year so I just I just started seeing my pneumonic paper in my head and I said Oh accrues no cash did the work didn't get cash it's crude crude let's accrue something mmm so it's accrue something let's accrue it baby with my pneumonic page that I wrote every day for about a year every day for about a year and I used to write on the top of it the sacrifice hustle grind you know they say you're a piece of they say you can't do it you should be dead I wrote all this stuff because I didn't feel I don't feel like studying every day man I feel like going to work coming home from work and studying but I wear all that stuff in my paper alright this is my paper every morning and also write dca Lord it's kind of what I'm known for if you don't know go back to old videos DCL or debit credit asset or expense liability every revenue alright let's get to the problem enough talking right all right accrued revenue unrecorded revenue that has been earned so I did work cash not receive and get chippers accrued equals no cash that's what you're going to write on your paper along with this you can remember if you can't remember so already this is starting out to be some be some trash okay because at work and get my money how am i get to my girl how am I gonna take my girl out for that - you know the Applebees Applebees - 420 how am i gonna do that we're gonna get my money I'm gonna tell my girl oh we can't go to Applebee's because I didn't get paid I'm not at that Ruth's Chris level yet December 15th so middle of the month I meet with a client they say okay I'm gonna do a monthly bookkeeping for you for $100 great great JT that's awesome I heard the best best CPA around you heard right yes a.m. now this is like a textbook example because if this was real life I would just prorate somebody meaning I would just build them for half a month $50.00 on December 31st it's Rabideau I'm Pro rate but and you know it well anyway it's December 31st we're closing our books we're trying to get our we're trying to get our the best representation of our of our business money-wise expenses revenue what you all this irking the balance sheet income statement because we're gonna go into our CPA to do the taxes the hard thing about this is there's no starting entry for it you know usually the adjusting entries there's an entry that first and then we adjust but with this one there's not see no entry I guess you just have an engagement letter or something so what I'm saying is at the end of the period how would you know to write this I guess you would go and be like oh I've done all this work or who owes me money I mean I always know who was in money so I'd be like who owes me some money let's really do 100 a month come December 31st you've done a half half