The video explains the effect of a transaction where a business (registered as a VAT vendor) earns income (cash, bank overdraft and on credit) on the accounting equation.
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Recording of transactions in the petty cash journal
Cash payments journal: Recording the advertising expense paid
Cash receipts journal: Recording a sales transaction for a VAT vendor
General ledger Loan paid into bank account and repayment
Accounting equation Income of a VAT vendor
Accounting equation Capital contribution
Accounting equation Expenses
Accounting equation Income
Accounting equation: Purchase of an asset
Bank overdraft
Posting journal totals to the VAT Input and VAT Output account
Invoice when purchasing goods
Receipt of payment
Closing transfers Profit or loss account
Closing transfers Periodic Inventory system Trading account
Closing transfers: Perpetual inventory system - Trading account
Closing transfers Net sales
Closing transfers theory
Depreciation Reducing balance method
Statement of financial position
Accounting cycle
Depreciation using the straight-line method
Invoice
Ownership and users of financial information