Accounts Classes by Karthick Balaraman

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🎥 YouTube: AK Accounting Academy
https://youtube.com/?si=B0qSD0c2pY1PXdAz
🎓 Accounting Educator | Turning confusion into clarity 📘 🚀 70K+ learners growing together

Look at the transactions carefully and find the Opening Stock value.Can you get the correct answer?Choose A, B, C or D a...
24/09/2026

Look at the transactions carefully and find the Opening Stock value.
Can you get the correct answer?
Choose A, B, C or D and comment your calculation.
See how many you can get right! 💯

Can you calculate the Profit or Loss on Disposal of Machinery?Don’t rush—check the Residual Value, Depreciation, Carryin...
23/09/2026

Can you calculate the Profit or Loss on Disposal of Machinery?
Don’t rush—check the Residual Value, Depreciation, Carrying Amount (Net Book Value), and Selling Price carefully.
See how many you can get right!
Comment your answer: A, B, C, D or E?

20 Key Accounting Terms Every Accounting Student Should Know! From Accounting, Assets & Liabilities to Depreciation, Dou...
23/09/2026

20 Key Accounting Terms Every Accounting Student Should Know!

From Accounting, Assets & Liabilities to Depreciation, Double Entry, Goodwill & Audit — understand these important terms in simple words.

Save this post for revision and share it with a fellow accounting learner.
Learn → Practice → Grow.

How many of these terms did you already know? Comment your number below!

ACCOUNTING CHALLENGE Can you match all 20 accounting terms with the correct definitions? 🤔Write your answers in the comm...
22/09/2026

ACCOUNTING CHALLENGE
Can you match all 20 accounting terms with the correct definitions? 🤔
Write your answers in the comments like:
1–L, 2–J, 3–O…
Test your accounting knowledge and see how many you can get right! 💯

What is the Profit or Loss on Disposal? 🤔A business purchased machinery for $150,000, with a useful life of 5 years and ...
22/09/2026

What is the Profit or Loss on Disposal? 🤔

A business purchased machinery for $150,000, with a useful life of 5 years and a residual value of $30,000. The machinery was later sold for $125,000 after 18 months.

Can you calculate the carrying amount first and then determine the profit or loss on disposal?

Note: Don’t compare the selling price directly with the original cost. Remember to calculate depreciation and carrying amount first.

If you like this Accounting Challenge, please share it!

What is the balance now due from ABC Traders? 🤔ABC Traders originally owed $100,000, paid $95,000 by cheque with a $5,00...
21/09/2026

What is the balance now due from ABC Traders? 🤔
ABC Traders originally owed $100,000, paid $95,000 by cheque with a $5,000 settlement discount, but the cheque was later dishonoured and the bank charged $1,000.
Can you work out the correct balance step by step?
Note: Remember that when a cheque is dishonoured, the original debt is reinstated, the settlement discount is reversed, and the recoverable bank charge is added.
If you like this Accounting Challenge, please share it!

A business receives $36,000 upfront for a 3-year software subscription, but the entire amount is incorrectly recorded as...
21/09/2026

A business receives $36,000 upfront for a 3-year software subscription, but the entire amount is incorrectly recorded as revenue.
The real question is: How much revenue was actually earned by December 31?
This challenge tests your understanding of accrual accounting, revenue recognition, and unearned revenue.
Can you identify the exact effect on Revenue and Liabilities before checking the solution?
Try solving it yourself first, then check the full step-by-step explanation.

ACCOUNTING CHALLENGECan you calculate the correct Accounts Receivable balance after the cheque is dishonoured? 🤔Pay clos...
20/09/2026

ACCOUNTING CHALLENGE
Can you calculate the correct Accounts Receivable balance after the cheque is dishonoured? 🤔
Pay close attention to the settlement discount, dishonoured cheque, and bank charge. One small mistake can change the answer!
Comment your answer: A, B, C, D, or E.
If you enjoy these Accounting Challenges, please share them with other accounting students!

What was the amount payable to Ravi Traders at 30 September 2025? 🤔Use the trade discount, purchase return, and post-dat...
20/09/2026

What was the amount payable to Ravi Traders at 30 September 2025? 🤔
Use the trade discount, purchase return, and post-dated cheque carefully to work out the closing payable balance.
If you like this Accounting Challenge, please share it!

What is the exact effect of this accounting error on the Year 1 financial statements? 🤔Use the accrual method and carefu...
20/09/2026

What is the exact effect of this accounting error on the Year 1 financial statements? 🤔
Use the accrual method and carefully distinguish between cash received, revenue earned, and unearned revenue.
Note: Remember: Revenue must be recorded only when it is earned, rather than when cash is received.
If you like this Accounting Challenge, please share it!

Address

Chennai
600014

Opening Hours

Monday 6am - 9am
Tuesday 6am - 9am
Wednesday 6am - 9am
Thursday 6am - 9am
Friday 6am - 9am
Saturday 4:30am - 6am
Sunday 4:30am - 6am

Telephone

+917010646297

Website

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