Ejercicio de cuentas T en Excel explicado PASO A PASO

Workshop on T-Accounts and Trial Balance

Introduction to the Workshop

• Felipe introduces the workshop focused on T-accounts and trial balances, aimed at beginners. The task involves registering transactions in T-accounts and preparing a trial balance based on provided data.

Initial Business Setup

• The business is named "La Casa de Papel SA de CV," starting with an initial cash value of 80,000 pesos. Felipe mentions that he has previously explained how to create T-accounts in Excel.

Creating T-Accounts for Assets

• The first asset recorded is cash (caja) with an initial balance of 80,000 pesos, which is classified as a debit account since it’s an asset. This amount is entered on the left side of the T-account.

• Next, a bank account (banco) valued at 860,000 pesos is added as another asset under the debit side of its respective T-account. Felipe emphasizes understanding account nature for proper entry placement.

• Merchandise inventory (mercancías) worth 540,000 pesos is recorded in a new T-account under debits as well. Following this, accounts receivable (clientes) are noted at 300,000 pesos also on the debit side.

• Lastly, furniture (mobiliario) valued at 280,000 pesos is documented in its own T-account under debits too. Each entry reflects assets increasing on the debit side according to accounting principles.

Recording Liabilities

• Moving to liabilities, Felipe records accounts payable (proveedores) worth 400,000 pesos on the credit side of its respective account since liabilities are credited when they increase.

• He continues with documents payable (doctos por pagar), entering an amount of 300,000 pesos also under credits due to their nature as liabilities that increase on this side of the account.

Capital Account Entry

• The final liability recorded is capital valued at 3,360,000 pesos placed in its own credit account reflecting ownership equity within the business structure. This completes the initial setup phase before moving onto transactions involving sales or income generation activities.

Recording Sales Transactions

• In a subsequent transaction where merchandise was sold on credit for 1,700,000 pesos to customers who owe this amount now reflected in accounts receivable (clientes). This sale increases assets and thus gets recorded as a debit entry in that account.

• Felipe explains that understanding whether to record amounts as debits or credits depends significantly on whether accounts are increasing or decreasing; assets increase with debits while liabilities do so with credits—highlighting essential accounting principles for beginners here again reinforces learning from previous videos he recommends watching for clarity about these concepts before proceeding further into exercises or practical applications of these principles discussed throughout his workshop session today!

Understanding Accounting Entries

Introduction to Income Accounts

• The discussion begins with the creation of an income account named "Ingresos por Ventas," which is managed by increasing on the credit side and decreasing on the debit side.

Recording Sales Revenue

• When recording sales revenue, an entry of 1,700 is made on the credit side, indicating an increase in income. It's emphasized that accounting entries must involve movements in two or more accounts.

Purchasing Merchandise on Credit

• The next step involves purchasing merchandise on credit for 1,000,000 pesos. This transaction affects both the "Proveedores" (suppliers) account and the "Mercancías" (merchandise) account.

• The suppliers' account increases by 1,500,000 pesos as a liability while merchandise is recorded as an asset increasing by the same amount.

Paying Freight Expenses

• A new expense account for freight is created due to a payment of 5,000 pesos. This expense increases on the debit side.

• Since payment was made via check, it decreases the bank account balance (an asset), which is recorded on the credit side.

Customer Payments and Returns

• Customers return payments totaling 40,000 pesos. This reduces their outstanding debt recorded in the customers' account.

• The corresponding entry reflects this reduction in customer debt while simultaneously increasing cash in the bank.

Returning Merchandise to Suppliers

• Merchandise worth 30,000 pesos is returned to suppliers. This action decreases inventory and also reduces liabilities owed to suppliers.

Discounts Granted to Customers

• Discounts of 5,000 pesos are granted to customers; this reduces their debts and requires creating a new expense account for commercial discounts.

Supplier Discounts Received

• Suppliers grant discounts totaling 20,000 pesos which decrease liabilities owed. This adjustment reflects improved financial standing with suppliers.

This structured overview captures key concepts from accounting practices discussed within specific timestamps of a transcript focused on financial transactions and their implications within accounting systems.

Understanding Accounting Transactions

Discounts and Non-Operational Income

• The concept of discounts is introduced, highlighting that they can be seen as a reduction in income. A new account titled "Commercial Discounts" is created to reflect this.

• This account is classified as non-operational income, which increases on the credit side (haber) and decreases on the debit side (debe).

• When a benefit for the company arises, it is recorded as an increase in income; conversely, if the income concept is annulled, it decreases.

Loans to Employees

• A loan of 5,000 pesos granted to an employee creates a receivable account called "Accounts Receivable from Employees," categorized as an asset.

• This asset increases when money is owed by employees and decreases upon repayment. The loan amount is recorded on the debit side.

• The transaction involves issuing a check for the loan, which reduces the bank account balance—recorded on the credit side.

Payment of Liabilities

• A payment of 7,000 pesos via check for a promissory note results in a decrease in cash assets and affects liabilities under "Documents Payable."

• As debts are paid off, they are recorded on the debit side while cash outflows are noted on the credit side.

Customer Payments

• Customers paying 800,000 pesos leads to an increase in accounts receivable and subsequently deposits into the bank.

• Both transactions are recorded: accounts receivable increases on the credit side while bank deposits increase on the debit side.

Supplier Payments

• Paying suppliers 500,000 pesos with checks reduces liabilities under "Suppliers" and also decreases cash assets.

• The payment reflects a decrease in debt recorded on the debit side while reducing cash assets noted on the credit side.

Cash Deposits

• Depositing 20,000 pesos into a bank signifies transferring cash from physical holdings to banking assets.

• This transaction shows a decrease in cash (credit entry), while simultaneously increasing bank assets (debit entry).

Further Liability Payments

• Another payment of 15,000 pesos for another promissory note further reduces liabilities under "Documents Payable."

• Similar to previous payments, this transaction records liability reductions on the debit side and corresponding reductions in bank assets due to checks issued.

Sales Transactions

• Selling merchandise worth 18,000 pesos through promissory notes indicates an increase in sales revenue recognized under "Sales Income."

Accounting Transactions Overview

Recording Income from Sales

• An income of 18,000 pesos is generated from sales, supported by a promissory note indicating that customers owe this amount.

• The accounts receivable (customer debts) are debited with 18,000 pesos to reflect the sale and the corresponding promissory note.

Asset Purchases and Their Impact

Purchase of Office Furniture

• A desk costing 3,000 pesos is purchased for the accounting department, classified as an asset under furniture.

• The asset account increases by debiting 3,000 pesos since new furniture enters the company.

Purchase of Stationery

• Stationery is bought for 1,000 pesos in cash; this decreases cash assets and is recorded accordingly.

• The stationery expense account increases by debiting 1,000 pesos as it represents a business expense.

Employee Payments and Accounts Receivable

Payment from Employees

• An employee pays back 5,000 pesos in cash; this affects accounts receivable from employees.

• The payment reduces the receivable account (credited), while increasing cash assets (debited).

Customer Payments via Cheque

Sale Transaction with Cheque Payment

• A customer purchases goods worth 10,000 pesos using a cheque. This transaction can be handled differently based on preference for immediate bank deposit or holding until cheque clearance.

• It’s recommended to deposit cheques directly into the bank for efficiency and security.

Equipment Acquisition

Purchase of Machinery

• A machine for pasta cutting is acquired at a cost of 3,000 pesos paid via cheque; this falls under machinery and equipment assets.

• The machinery account increases by debiting 3,000 pesos while reducing bank assets due to cheque payment (credited).

Conclusion on Accounting Entries

Final Steps in Accounting Process

• After recording all transactions, it's essential to calculate each account's balance before preparing a trial balance.

• Future videos will cover different methods for creating trial balances that affect how balances are calculated.