Question:

On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

- Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

maybe because bank loans are figured on compound interest? ( the principal decreases every month ) but I haven’t worked it out!

Response:

Bob is right, this is a compounded interest problem. Start the problem off by dividing the APR (12%) by the number of months in the year. You should get 1%; multiply this by the number of months interest was accrued, which is 5 months, and then multiply that number (.05) by the borrowed amount ($20,000) and viola–you get $1000. Janice – Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

Bob is right, this is a compounded interest problem. Start the problem off by dividing the APR (12%) by the number of months in the year. You should get 1%; multiply this by the number of months interest was accrued, which is 5 months, and then multiply that number (.05) by the borrowed amount ($20,000) and viola–you get $1000. Janice

I forgot one thing… Interest Expense        $1000       Interest Payable               $1000 assuming that the interest accrued for the year was not paid at this point. Janice

Response:

– Hide quoted text — Show quoted text -Bob is right, this is a compounded interest problem. Start the problem off by dividing the APR (12%) by the number of months in the year. You should get 1%; multiply this by the number of months interest was accrued, which is 5 months, and then multiply that number (.05) by the borrowed amount ($20,000) and viola–you get $1000. Janice On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

I don’t think this is a compound interest problem, otherwise the amount of interest expense would be something like $1,020*.  I think where the OP erred is assuming the 12% was the total interest for a two year period,  Even though the wording is a little unclear, the interest rate in every problem I have ever seen is an annual rate. The (simple) interest in this problem is $2,400 per year, otr$1,000 for the 5 month period. best regards Bill *(20,000 *1.01 *1.01 *1.01 *1.01 *1.01)

Response:

I don’t think this is a compound interest problem, otherwise the amount of interest expense would be something like $1,020*.  I think where the OP erred is assuming the 12% was the total interest for a two year period,  Even though the wording is a little unclear, the interest rate in every problem I have ever seen is an annual rate. The (simple) interest in this problem is $2,400 per year, otr$1,000 for the 5 month period. best regards Bill

Bingo. Bill Lentz wins the three points. Good Job. Regards, Bill Brown P.S. I’ll bet both the professor and the textbook said all interest rates are annual unless otherwise stated.

Response:

My figure is correct on a 2 decimal place calculation. After reviewing and moving my decimal to 4 place I got $1,028 for 5 months of accrued interest. Thanks for the feedback I do my best to absorb all corrections for future uses. Janice – Hide quoted text — Show quoted text – I don’t think this is a compound interest problem, otherwise the amount of interest expense would be something like $1,020*.  I think where the OP erred is assuming the 12% was the total interest for a two year period,  Even though the wording is a little unclear, the interest rate in every problem I have ever seen is an annual rate. The (simple) interest in this problem is $2,400 per year, otr$1,000 for the 5 month period. best regards Bill Bingo. Bill Lentz wins the three points. Good Job. Regards, Bill Brown P.S. I’ll bet both the professor and the textbook said all interest rates are annual unless otherwise stated.

Response:

- Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Interest is always calculated by the formula: Principal * Rate * Time In this case, it would be 20000*.12* (5/12) or $1,000. Wayne Brasch, CPA, M. S. Taxation

Response:

snip P.S. I’ll bet both the professor and the textbook said all interest rates are annual unless otherwise stated.

I have no doubt that’s the case. Bill

Response:

Correct me if I am wrong, but one needs to calculate the future value of the 20,000 at 12% interest using either their financial calculator or a future value of an annuity due table. In that case we need to know how often the payments would be due (assuming once per month?) and how much the payments would be. This would allow you to calculate correctly the total amount of interest due over the course of 2 years. Right now I have neither my calculator, the tables, nor the correct FV formula in front of me…. — Stephanie Serba, AICIA Partner, Accounting & Technology Durham Business Outsource www.dbo.ca

– Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight? maybe because bank loans are figured on compound interest? ( the principal decreases every month ) but I haven’t worked it out!

Response:

Ok, I know accountants rely on calculators, but come on…. think about the question and answer… it’s not a compunding question, it’s simple interest and it’s easy to answer. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000.

12% x $20,000 = $2,400 ANNUALLY!!!!  Not over two years! $2,400 divided by 12 months = $200!!!  5 months x $200 = $1,000!!! Therefore the answer is $1000 expense/payable for the 5 months ending Dec 2004. Shame on you all. – Hide quoted text — Show quoted text -Bob is right, this is a compounded interest problem. Start the problem off by dividing the APR (12%) by the number of months in the year. You should get 1%; multiply this by the number of months interest was accrued, which is 5 months, and then multiply that number (.05) by the borrowed amount ($20,000) and viola–you get $1000. Janice On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

– Hide quoted text — Show quoted text – Ok, I know accountants rely on calculators, but come on…. think about the question and answer… it’s not a compunding question, it’s simple interest and it’s easy to answer. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. 12% x $20,000 = $2,400 ANNUALLY!!!!  Not over two years! $2,400 divided by 12 months = $200!!!  5 months x $200 = $1,000!!! Therefore the answer is $1000 expense/payable for the 5 months ending Dec 2004. Shame on you all.

we all thank you for your genius insight

Response:

Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000         Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. – Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

I said this same thing yesterday! Wayne Brasch, CPA, M. S. Taxation

– Hide quoted text — Show quoted text – Ok, I know accountants rely on calculators, but come on…. think about the question and answer… it’s not a compunding question, it’s simple interest and it’s easy to answer. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. 12% x $20,000 = $2,400 ANNUALLY!!!!  Not over two years! $2,400 divided by 12 months = $200!!!  5 months x $200 = $1,000!!! Therefore the answer is $1000 expense/payable for the 5 months ending Dec 2004. Shame on you all. Bob is right, this is a compounded interest problem. Start the problem off by dividing the APR (12%) by the number of months in the year. You should get 1%; multiply this by the number of months interest was accrued, which is 5 months, and then multiply that number (.05) by the borrowed amount ($20,000) and viola–you get $1000. Janice

– Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am.

– Hide quoted text — Show quoted text – Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser.

– Hide quoted text — Show quoted text – On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a note that requires the principle and interest at 12% to be repaid in two years. What is the jounral entry necessary at December 31, 2004 (assume all months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle and interest are to be repaid in "two years," which is 24 months. So I divided $2400 by 24 months for $100 a month. Five months (from August to December) equals $500, not $1000. Can someone set me straight?

Response:

//snipped// Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Much like everyone else!

yes,    —    and accounting students in this NG may get more help if they include their reasoning for an answer when posting (which i believe the original poster did )

Response:

Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots. – Hide quoted text — Show quoted text – LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

There may be times that the best of us miss some detail in accounting. I don’t think anyone should be talked badly about because they missed a detail. If they are still in school, they are still learning. Give them a chance! Wayne Brasch, CPA, M. S. Taxation

Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots.

– Hide quoted text — Show quoted text – LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

There may be times that the best of us miss some detail in accounting. I don’t think anyone should be talked badly about because they missed a detail. If they are still in school, they are still learning. Give them a chance!

Wayne, Some folks aren’t worthy of being replied to. ;o) Janice

Response:

What can I say? I go to a top quality school and have gotten an A in every accounting class I’ve ever taken… if that makes me arrogant, that’s fine. Don’t be mad that all you could get were C’s. I’m not mad at ya.

Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots.

– Hide quoted text — Show quoted text – LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

What can I say? I go to a top quality school and have gotten an A in every accounting class I’ve ever taken… if that makes me arrogant, that’s fine. Don’t be mad that all you could get were C’s. I’m not mad at ya.

OK, thanks dude – Hide quoted text — Show quoted text – Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots. LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

What "other mistake?" I typed the question straight from my exam. How is my school a "fly by night" school? My college is one of the best in the nation. Don’t be jealous, evil cocksucker.

Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots.

– Hide quoted text — Show quoted text – LOL, I had no idea some people on the group were so anal and would rip you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the answer to the problem gave me any "new knowledge," it’s just I didn’t stop to think of the problem in that way and instead tried to spread the interest over the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score 97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

What "other mistake?" I typed the question straight from my exam. How is my school a "fly by night" school? My college is one of the best in the nation. Don’t be jealous, evil cocksucker.

Evil Accountant is clearly enjoying this.  Your mistake is– you said "Why must there be an entry at year end for interest expense when the note receivable is due two years later".  For an "A" student, tell me why no entry is needed at year one.? You said it’s your first midterm, what top school has its first midterm at the end of the fall semester?  Your questions are related to rudimentary intro accounting and not intermediate accounting.  If you don’t know these basic stuffs, how can you get 97% on your intermediate accounting? Evil Accountant thinks that jackass here is taking some career college book keeping courses. There’s is nothing wrong with that except Jackass here, obviously need serious help but came out swinging, lying and bullshiting about his grades and stuffs. Evil Accountant will like to amortize this loser’s ass using the double declining method with no salvage value. – Hide quoted text — Show quoted text – Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots. LOL, I had no idea some people on the group were so anal and would rip  you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve  gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the  answer to the problem gave me any "new knowledge," it’s just I didn’t stop to  think of the problem in that way and instead tried to spread the interest over  the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with  easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below  question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score  97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing  a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume  all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The  principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

Yeah, we talked about the double declining balance method when we went over depreciation in income taxes… chapter 8, West Federal Taxation. And you’re going to amortize me? Assets are depreciated, dickface. You’re completely pathetic and clueless. And likely a closet fruit. No wonder you want to do something with my "ass." You live in San Francisco by any chance? Please, enlighten us with some other accounting terms like Acrs or Macrs. All of us here are taking career college courses and are bookkeepers, unlike yourself, master CPA. Dickface.

– Hide quoted text — Show quoted text – What "other mistake?" I typed the question straight from my exam. How is my school a "fly by night" school? My college is one of the best in the nation. Don’t be jealous, evil cocksucker. Evil Accountant is clearly enjoying this.  Your mistake is– you said "Why must there be an entry at year end for interest expense when the note receivable is due two years later".  For an "A" student, tell me why no entry is needed at year one.? You said it’s your first midterm, what top school has its first midterm at the end of the fall semester?  Your questions are related to rudimentary intro accounting and not intermediate accounting.  If you don’t know these basic stuffs, how can you get 97% on your intermediate accounting? Evil Accountant thinks that jackass here is taking some career college book keeping courses. There’s is nothing wrong with that except Jackass here, obviously need serious help but came out swinging, lying and bullshiting about his grades and stuffs. Evil Accountant will like to amortize this loser’s ass using the double declining method with no salvage value. Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots. LOL, I had no idea some people on the group were so anal and would rip  you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve  gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the  answer to the problem gave me any "new knowledge," it’s just I didn’t stop to  think of the problem in that way and instead tried to spread the interest over  the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with  easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below  question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score  97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing  a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume  all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The  principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

You’re the jackass… this was the first test of the intermediate accounting course… not a "midterm"… this test covered the first four chapters of the Intermediate Accounting text, which is basically a review of the material in Principles of Accounting… You think everyone that scores an A on a test gets every single question correct? An "A" student can never get a question wrong? You’re clearly a pathetic, pathetic fool. And your "other mistake" is ludicrous. Can’t you read? The question asked what journal entry was neccesary on Dec 31, 2004. That is the current year according to the problem. I correctly took five months for interest, but read the problem incorrectly and didn’t even think to realize that all interest in annual unless otherwise noted. Therefore I divided by 24 months instead of 12. It’s not that I don’t "know" the material, it’s that I didn’t stop to think the problem through completely. Look at any book for Intermediate Accounting. The first four chapters (which this test was on), hell, the first 8 chapters consist of material from introductory accounting courses, except in slightly more detail. Chapter 6, which we’re on now, simply discuesses inventory costing again. We don’t get to accounting for pensions, etc, until next semester, later in the book. And i’ll explain how I got a "97%" on the test… the problem I posted, was the only one I got incorrect. Please don’t be jealous because I go to a top university and have gotten A’s in every accounting course. I know you’re just a bookkeeper, but come on…

– Hide quoted text — Show quoted text – What "other mistake?" I typed the question straight from my exam. How is my school a "fly by night" school? My college is one of the best in the nation. Don’t be jealous, evil cocksucker. Evil Accountant is clearly enjoying this.  Your mistake is– you said "Why must there be an entry at year end for interest expense when the note receivable is due two years later".  For an "A" student, tell me why no entry is needed at year one.? You said it’s your first midterm, what top school has its first midterm at the end of the fall semester?  Your questions are related to rudimentary intro accounting and not intermediate accounting.  If you don’t know these basic stuffs, how can you get 97% on your intermediate accounting? Evil Accountant thinks that jackass here is taking some career college book keeping courses. There’s is nothing wrong with that except Jackass here, obviously need serious help but came out swinging, lying and bullshiting about his grades and stuffs. Evil Accountant will like to amortize this loser’s ass using the double declining method with no salvage value. Evil Accountant is not part of this esteemed and professional group of newsgroup participants.  Evil Accountant is not worthy to be included in this group. Evil Accountant takes blame if Evil Accountant gives this group a bad name.  Evil Accountant just sees Jackass that comes to this group and instead of asking stupid questions humbly, Jackass acted like some arrogant piece of scat while it’s obvious that Jackass’s a loser.   Jackass didn’t know Jackass’ original question showed how stupid Jackass is.  The miscalculated interest  was minor compared to the major one, which is where Jackass said that "what is the journal entry necessary at December 31, 2004 ."  This showed that Jackass’ school must be one of those fly-by-night ones for giving out "A"s to idiots. LOL, I had no idea some people on the group were so anal and would rip  you apart for having a lapse and not realizing it was annual interest and instead took it over the two years. And I did score a 97%, and i’ve  gotten an A in every accounting class i’ve ever taken. This semester I’m taking Intermediate 1, Cost, and Income Tax. This test was our first in Intermediate Accounting. It’s not like the  answer to the problem gave me any "new knowledge," it’s just I didn’t stop to  think of the problem in that way and instead tried to spread the interest over  the 24 months. Sometimes I know exactly what I"m doing, and sometimes, with  easy problems, I have no idea. It’s just the way I am. Anyone, even experienced and highly qualified CPAs can have a moment before they grasp simple concepts.  Such events make the life an auditor more interesting when they bring it to the attention of the top accountant.  Sometimes one just ignores an important factor. Congrats of the 97%  put the new knowledge in your head– and move on. Tippy Yeah right 97%.  You sound like the typical loser.  The below  question is a straight forward introductory Acct question. Every beginner knows that interest rates are usually annual unless specified so.  Same with payments and compounding frequency, are assumed annual unless specified otherwise. Any "C" student knows that at year end you have to report interest accrued.  For a 97% student, you can’t even grasp such a simple concept? let’s see…. $20,000×0.12*5/12= $1000. one grand interest accured. therefore, Interest Expense      1000        Interest payable    1000 If you can’t understand such a simple question, how can you score  97%? What a loser. On Aug 1, 2004 the company borrowed $20,000 from a bank by signing  a  note that requires the principle and interest at 12% to be repaid in two  years. What is the jounral entry necessary at December 31, 2004 (assume  all  months have 30 days)? I put: Interest Expense Dr. $500     Interest Payable Cr. $500 But the answer is $1000. Why is it $1000? I have $20,000 x .12 = $2400 interest. The  principle  and interest are to be repaid in "two years," which is 24 months. So I  divided $2400 by 24 months for $100 a month. Five months (from August to  December) equals $500, not $1000. Can someone set me straight?

Response:

Question:

McDonald’s manager charged with embezzling $200,000 from ATM Associated Press Published September 5, 2003 OLIV05 A Bloomington man was charged with embezzling more than $200,000 from an ATM at the McDonald’s restaurant he managed in his hometown. Matthew James Olivero, 29, was charged with four counts of theft by swindle over $35,000 and one count of theft of swindle over $2,500. The charges were announced Thursday. According to the criminal complaint, Olivero was the only person at the restaurant who had a key and combination to access the ATM. “This isn’t a case of simply miscounting or skimming a few dollars,” said Hennepin County Attorney Amy Klobuchar. “For more than two years, this defendant systematically diverted more than $200,000 in cash from an ATM that he controlled.” The McDonald’s accounting office discovered the thefts by comparing the petty cash funds designated for the ATM with the actual record of ATM withdrawals. The shortage was about $200,000 from the time the ATM was installed in November 1999 to the discovery of the thefts in July 2002. During the time of the alleged thefts, Olivero bought expensive jewelry, a timeshare condominium in Florida and paid private school tuition for his children. Previously, Olivero had financial difficulty, prosecutors said, including bouncing checks, failing to pay substantial debts and failing to pay rent in October and November 1999.

Response:

‘Cymbal Man Freq.’ wrote on 05 Sep 2003: – Hide quoted text — Show quoted text -> McDonald’s manager charged with embezzling $200,000 from ATM > Associated Press > Published September 5, 2003 OLIV05 > A Bloomington man was charged with embezzling more than $200,000 > from an ATM at the McDonald’s restaurant he managed in his > hometown. > Matthew James Olivero, 29, was charged with four counts of theft > by swindle over $35,000 and one count of theft of swindle over > $2,500. The charges were announced Thursday. > According to the criminal complaint, Olivero was the only person > at the restaurant who had a key and combination to access the ATM. > “This isn’t a case of simply miscounting or skimming a few > dollars,” said Hennepin County Attorney Amy Klobuchar. “For more > than two years, this defendant systematically diverted more than > $200,000 in cash from an ATM that he controlled.” > The McDonald’s accounting office discovered the thefts by > comparing the petty cash funds designated for the ATM with the > actual record of ATM withdrawals. The shortage was about $200,000 > from the time the ATM was installed in November 1999 to the > discovery of the thefts in July 2002. > During the time of the alleged thefts, Olivero bought expensive > jewelry, a timeshare condominium in Florida and paid private > school tuition for his children. > Previously, Olivero had financial difficulty, prosecutors said, > including bouncing checks, failing to pay substantial debts and > failing to pay rent in October and November 1999.

I’ve never seen a McDonald’s up here in Canada with an ATM. — Stuart J. Shillinglaw http://www.geocities.com/effectivestu/schizophrenia/ http://www.geocities.com/effectivestu/ http://www.geocities.com/effectivestu/drawings/ http://www.cafeshops.com/effectivestu

Response:

Question:

What, CFG…? Based on what I know, George W. Bush is a godly man

"Based on what [you] know" or what you DENY?  This time please try basing on what you NOW know and NOT deny from the following historical records on US President George W. Bush: — I want to repeat to you something I said earlier.  IT’S REALLY IMPORTANT FOR SOMEBODY IN MY POSITION TO…UNDERSTAND THAT PEOPLE COMMUNICATE WITH GOD AND REACH GOD IN DIFFERENT WAYS.  IT JUST DOESN’T HAVE TO BE MY WAY.  AND I THINK IT’S REALLY IMPORTANT [THAT I'M] TRYING TO UNITE A NATION THAT IS DIVERSE AS OURS…  AND I REALLY MEAN THAT.  …AND I AM MINDFUL OF WHAT BILLY GRAHAM ONE TIME TOLD ME, FOR ME NOT TO TRY TO FIGURE OUT — TRY TO PICK AND CHOOSE WHO GETS TO GO TO HEAVEN.  (SOURCE: US President George W. Bush, "George W. Bush: Running on His Faith," US NEWS ONLINE, 1999, http://www.beliefnet.com/story/33/story_3345_1.html) — My senior year [at Yale University] I JOINED SKULL AND BONES, A SECRET SOCIETY, SO SECRET I CAN’T SAY ANYTHING MORE.  …One evening MY DAD [FORMER US PRESIDENT GEORGE HW BUSH] ASKED BILLY [GRAHAM] TO ANSWER QUESTIONS from a big group of family gathered for the weekend. …Over the course of that weekend, Reverend Graham planted a mustard seed in my soul, a seed that grew over the next year.  HE LED ME TO THE PATH, AND I BEGAN WALKING.  …Laura and I visited Israel in 1998.  …OUR DELEGATION INCLUDED FOUR GENTILE GOVERNORS – ONE METHODIST, TWO CATHOLICS, AND A MORMON, AND SEVERAL JEWISH-AMERICAN FRIENDS. …one of our friends…he, a gentile, and his friend, a Jew, had…JOINED HANDS UNDERWATER, AND PRAYED TOGETHER, ON BENDED KNEE. …NOW JEW AND GENTILE, MEETING, FROM MANY A DIFFERENT SHORE, AROUND AN ALTAR KNEELING, ONE COMMON LORD.  FAITH CHANGES LIVES.  I KNOW, BECAUSE FAITH HAS CHANGED MINE.  (SOURCE: George W. Bush, A CHARGE TO KEEP, ed. Mickey Herskowitz, Morrow,William & Co., November 1999) — [T]he home of Yale’s most famous secret society, Skull and Bones, …is also, in a sense, one of the many homes of the family of George W. Bush, Yale ‘68.  …Prescott Bush, George W.’s grandfather, Yale ‘17, …a legendary Bonesman…became a U.S. senator.  George Herbert Walker Bush, George W.’s father, Yale ‘48, was also a Bonesman, and he, too, made a conspicuous success of himself.  …SO WHEN GEORGE W. WAS "TAPPED" FOR SKULL AND BONES, AT THE END OF HIS JUNIOR YEAR, HE, TOO, NATURALLY BECAME A BONESMAN…  The name Magog is traditionally assigned to the incoming Bonesman deemed to have had the most sexual experience, and Gog goes to the new member with the least sexual experience.  William Howard Taft and Robert Taft were Magogs.  So, interestingly, was George Bush.  George W. …was given the name Temporary, which, it is said, he never bothered to replace; TEMPORARY IS HOW BUSH’S FELLOW BONESMEN KNOW HIM TODAY.  …He was generally regarded as a legacy tap.  …It turns out that THE YALE ADMISSIONS COMMITTEE THAT VOTED TO ADMIT GEORGE W., DESPITE HIS POOR RECORD AT ANDOVER, INCLUDED THREE MEMBERS (OUT OF SEVEN) WHO WERE BONESMEN… In his 1999 campaign autobiography, A Charge to Keep, George W. Bush mentions his membership in Skull and Bones only in passing: "My senior year I JOINED SKULL AND BONES, A SECRET SOCIETY, SO SECRET I CAN’T SAY ANYTHING MORE."   …TWELVE BONESMEN (INCLUDING FAMILY MEMBERS) AND THE SON OF A PATRIARCH GAVE A TOTAL OF $35,500 TO BUSH’S 1998 GUBERNATORIAL CAMPAIGN.  AT LEAST FORTY-SIX BONESMEN OR SONS OF PATRIARCHS HAVE GIVEN APPROXIMATELY $1,000 APIECE TO HIS PRESIDENTIAL CAMPAIGN — the maximum allowed by law.  …George W. keeps his Skull and Bones connections in repair…  (SOURCE: Alexandra Robbins, "George W., Knight of Eulogia: A Rare Look Inside Skull and Bones, the Yale Secret Society and Sometime Haunt of the Presumptive Republican Nominee for President," ATLANTIC MONTHLY, May 2000, pages 24-31, http://www.theatlantic.com/issues/2000/05/robbins.htm and http://www.theatlantic.com/issues/2000/05/robbins2.htm) — It’s my honor to welcome to the White House my fellow Americans — Arab Americans, Americans who are Muslim by faith…  I HAVE TOLD THE NATION MORE THAN ONCE THAT…THE TEACHINGS OF ISLAM ARE THE TEACHINGS OF PEACE AND GOOD.  …AND I ALSO APPRECIATE THE PRAYERS TO THE UNIVERSAL GOD.  (SOURCE: US President George W. Bush, "Text: Bush Welcomes Muslim Americans to White House," 26 September 2001, http://www.washingtonpost.com/wp-srv/nation/specials/attacked/transcr…) — U.S. PRESIDENT GEORGE W. BUSH AND HIS WIFE, LAURA, ON MONDAY VISITED MEIJI SHRINE, A MAJOR VENUE FOR SHINTO WORSHIPPERS IN TOKYO. PRESIDENT GEORGE W. BUSH REGISTERS HIS NAME AT MEIJI SHRINE’S MAIN HALL OF WORSHIP.  BUSH AND THE FIRST LADY PAID THEIR RESPECTS BY BOWING IN FRONT OF THE MAIN SHRINE HALL BEFORE SIGNING A REGISTRY BOOK, INCLUDING A BRIEF COMMENT ON THEIR VISIT.  …THE SHRINE IN SHIBUYA WARD IS DEDICATED TO EMPEROR MEIJI (1852-1912) AND HIS CONSORT, EMPRESS SHOKEN (1850-1914).  (SOURCE: "Bushes Take in Archery Show at Shrine: Koizumi Takes in ‘Yabusame’ But Gives Meiji Hall A Miss," THE JAPAN TIMES, 19 February 2002, http://www.japantimes.co.jp/cgi-bin/getarticle.pl5?nn20020219a4.htm) — I APPRECIATE YOUR [THE RUSSIANS'] UNDERSTANDING THERE IS A UNIVERSAL AND GRACIOUS GOD.  …May God bless Russia.  And may God bless the United States.  (SOURCE: US President George W. Bush, "Remarks by the President to Community and Religious Leaders, Spaso House, Moscow, Russia," Office of the Press Secretary, 24 May 2002, http://www.whitehouse.gov/news/releases/2002/05/20020524-12.html) — President Bush, in a private audience with Pope John Paul II today, …GAVE THE PONTIFF A SILVER OVAL MEDALLION WITH A HAND-PAINTED IMAGE OF THE VIRGIN MARY.  THE POPE GAVE BUSH A SMALL STATUE OF MARY carved from coral in Italy’s Torre del Greco region.  (SOURCE: Dana Milbank, "Bush Discusses Catholic Church Scandal with Pope," WASHINGTON POST, 28 May 2002, http://www.washingtonpost.com/wp-dyn/articles/A21451-2002May28.html) — President Bush, in a one-on-one meeting inside the Vatican, …PRESENTED THE POPE WITH A HAND-PAINTED SILVER MEDALLION OF THE MADONNA.  JOHN PAUL GAVE BUSH A PINK CORAL STATUE OF THE MADONNA AND CHILD.  (SOURCE: Ron Fournier, "Bush Expresses Concern to Pope about Priest Scandal in United States," ASSOCIATED PRESS, 28 May 2002, http://story.news.yahoo.com/news?tmpl=story&u=/ap/20020529/ap_to_po/b…) — YOU KNOW, IT’S INTERESTING, THERE IS A UNIVERSAL GOD, IN MY OPINION, and the first conversation I ever had with Vladimir Putin was about God — in Slovenia.  …THERE IS A — I THINK THAT THE ALMIGHTY IS IMPORTANT — OBVIOUSLY, IMPORTANT PART OF MY LIFE, BUT VERY IMPORTANT PART OF THE LIFE OF OUR COUNTRY.  (SOURCE: US President George W. Bush, "President Bush, President Putin Discuss Joint Efforts against Terrorism: Remarks by President Bush and Russian President Putin in Photo Opportunity – Calgary, Kananaskis, Canada," Office of the Press Secretary, 27 June 2002, http://www.whitehouse.gov/news/releases/2002/06/20020627-3.html) — AS MORE AND MORE PEOPLE GO TO THEIR CHURCHES AND SYNAGOGUES AND MOSQUES AND HEAR THAT UNIVERSAL CALL TO LOVE A NEIGHBOR, AMERICA’S CULTURE IS CHANGING.  …OUT OF THE EVIL DONE TO THIS GREAT LAND IS GOING TO COME INCREDIBLE GOOD…  May God bless you all, and may God bless America.  (SOURCE: US President George W. Bush, "President Talks Homeland/Economic Security at Mt. Rushmore: Remarks by the President on Homeland Security and the Budget," Mount Rushmore, South Dakota, Office of the Press Secretary, 15 August 2002, http://www.whitehouse.gov/news/releases/2002/08/20020815.html) — ISLAM IS…A FAITH BASED UPON LOVE, NOT HATE.  …Tomorrow [on the anniversary of September 11], AMERICANS OF ALL FAITHS WILL COME TOGETHER IN A SPIRIT OF UNITY and remembrance and resolve.  I call on every American to uphold the…value that we believe that EVERYBODY OUGHT TO WORSHIP THE ALMIGHTY, HOWEVER THEY SO CHOOSE.  (SOURCE: US President George W. Bush, "President Bush Holds Roundtable with Arab- and Muslim-American Leaders, Embassy at Afghanistan, Washington, D.C.," Office of the Press Secretary, 10 September 2002, http://www.whitehouse.gov/news/releases/2002/09/20020910-7.html) — [US PRESIDENT GEORGE W.] BUSH, A LOYAL AND PARTICULARLY ACTIVE MEMBER OF SKULL AND BONES, A MYSTERIOUS, HISTORICALLY MISOGYNIST YALE-BASED SECRET SOCIETY, SEEMS TO HAVE DONE ALMOST ALL HE CAN TO PROMOTE A LEVEL OF SECRECY IN GOVERNMENT NOT SEEN SINCE THE NIXON ADMINISTRATION: Last month, BUSH-APPOINTED ASSISTANT ATTORNEY GENERAL ROBERT MCCALLUM, A MEMBER OF BUSH’S 1968 SKULL AND BONES CLASS, FILED PLEADINGS IN U.S. DISTRICT COURT SEEKING TO EXTEND EXECUTIVE PRIVILEGE TO ANY GOVERNMENT OFFICIAL IN PARDON CASES; THE MOVE MAKES INFORMATION ON PRESIDENTIAL PARDONS MORE SECRET THAN IT HAS EVER BEEN.  After 9/11, without initially telling Congress, BUSH ASSEMBLED A SHADOW GOVERNMENT assigned to secret bunkers somewhere on the East Coast.  He also tried to cut off some members of Congress from classified information about the anti-terrorist campaign.  The USA Patriot Act Bush eagerly signed lets the FBI – WITH PERMISSION FROM A SECRET WASHINGTON "SPY COURT" – view some customer records; store owners cannot reveal the review.  In October 2001, Attorney General John Ashcroft released a memo encouraging federal agencies TO WITHHOLD AS MUCH INFORMATION AS POSSIBLE FROM THE PUBLIC.  A month later, just before documents from the Reagan-Bush administration were to be released, BUSH SIGNED AN EXECUTIVE ORDER SEVERELY HINDERING PUBLIC ACCESS TO FORMER PRESIDENTS’ RECORDS.  Bush also signed legislation that jails or fines journalists who publish sensitive leaks, essentially reviving the Official Secrecy Act that President Clinton vetoed.  BUSH HAS A "FETISH FOR SECRECY," Vanderbilt University

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Response:

– Hide quoted text — Show quoted text –     Jesus came to make caring for the welfare of others the cornerstone  of His teaching. Woe unto those who not only disregard, but add to the suffering of others. Just think, for over half a century Islam has been watching their daily news invariably dominated by the spectre of  American supported Jews beating up on their helpless natives, taking their land  and confining them to refugee camps, of not vast prison camps in the Sinai. Imagine the rage, the implacable anger and hate we have carelessly  created in our unstinting support of their oppressors. Yes, we soon will be  refugees in our own land, as city after city disappears in the nuclear holocaust.  The Bible prophesies, it will hit us "when least expected". Pastor Frank: I must take exception with this statement here.  The cornerstone of Jesus’ earthly ministry was not the "caring for the welfare of others."     I go by this quote: Jesus in Mk 12:30: And thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind, and with all thy strength: this is the first commandment. 31: And the second is alike, namely this, Thou shalt love thy neighbour as thyself. There is none other commandment greater than these.     I was arguing how you treat / judge others will get you to heaven or to hell. Your choice. Confessing Jesus and hating or mistreating your brother is still getting to hell, for you will hear Jesus say: Depart from me, for I never knew you.     As far as the rest of your missive is concerned it pains me to read it, for you display a heart of stone, and I see you being judged as you judge and treat  THE LEAST OF THEM, for the first will be last and the last first. If you in any way support the mistreatment of these helpless people, you have no part in salvation. That thought makes me sad. — Pastor Frank THE GOSPEL OF JESUS CHRIST Jesus in Matthew. 5:38 Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: 39: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also. 40: And if any man will sue thee at the law, and take away thy coat, let him have thy cloche also. 41: And whosoever shall compel thee to go a mile, go with him twain. 42: Give to him that asketh thee, and from him that would borrow of thee turn not thou away. 43: Ye have heard that it hath been said, Thou shalt love thy neighbour, and hate thine enemy. 44: But I say unto you, Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you; 45: That ye may be the children of your Father which is in heaven: for he maketh his sun to rise on the evil and on the good, and sendeth rain on the just and on the unjust. 46: For if ye love them which love you, what reward have ye? Do not even the publicans the same? 47: And if ye salute your brethren only, what do ye more than others? Do not even the publicans so? 48: Be ye therefore perfect, even as your Father which is in heaven is perfect.     His teaching is a humongous step up from Judaism’s Exodus 21:23-24 "If any harm follows, then you shall give life for life, eye for eye, tooth for tooth, hand for hand, foot for foot, burn for burn, wound for wound, stripe for stripe." If I’m judged for judging others, then how will you be judged for judging me?  Where does the cycle end?  I don’t believe that I’m judging others.  I merely see the state of many around the world.  My heart goes out to them because the vast majority of them will die in their sins without accepting Jesus Christ.  Yet my compassion for their unsaved state does not lessen the fact that they’re unsaved. Jesus himself wept at the state of rejecting Israel when he said, "O Jerusalem, Jerusalem, you who kill the prophets and stone those sent to you, how often I have longed to gather your children together, as a hen gathers her chicks under her wings, but you were not willing!" (Luke 13:34).  The heart desire of Jesus was to gather all of Israel under his wing, but what?  They were not willing.  That is the case with the entire unbelieving world.  The entire unbelieving world willfully rejects Jesus Christ, and what happens?  "Look, your house is left to you desolate. I tell you, you will not see me again until you say, `Blessed is he who comes in the name of the Lord.’" (Luke 13:35).  We reject God and Jesus, and God eventually abandons us. This, my friend, is Biblical!  Read Romans 1:18-32 carefully.  It chronicles the descent of mankind from rejection to rationalization and eventually to false religion, and at that point God gives us over to the consequences of our sin. As for our government?  God established government to restrain mankind from further evil.  Without government, there would be anarchy. Paul wrote this: "Everyone must submit himself to the governing authorities, for there is no authority except that which God has established. The authorities that exist have been established by God. Consequently, he who rebels against the authority is rebelling against what God has instituted, and those who do so will bring judgment on themselves. For rulers hold no terror for those who do right, but for those who do wrong. Do you want to be free from fear of the one in authority? Then do what is right and he will commend you. For he is God’s servant to do you good. But if you do wrong, be afraid, for he does not bear the sword for nothing. He is God’s servant, an agent of wrath to bring punishment on the wrongdoer. Therefore, it is necessary to submit to the authorities, not only because of possible punishment but also because of conscience" (Romans 13:1-5) We are to willingly submit to the governing authorities, EVEN WHEN WE DISAGREE WITH THEM.  To do so is to rebel against that authority that God has established.  One of the things that government is to do is to "bear the sword."  This is why I believe the death penalty is Biblical and why I believe there is such a thing as a just war.  The only justified case of disobeying government is when they ask us to do something that God strictly prohibits.  Now before anyone goes on to say that in war people kill people and therefore that is against God’s commandments; there is a huge difference between an individual killing an individual and soldiers killing opposing soldiers in a war.  God commanded the Israelites to obliterate the Canaanites in the book of Joshua.  Were the Israelites guilty of murder?  No.  Recall in the gospel of Luke this encounter:  "Then some soldiers asked him, ‘And what should we do?’ He replied, ‘Don’t extort money and don’t accuse people falsely–be content with your pay.’" (Luke 3:14).  Notice John the Baptist’s didn’t prohibit the soldier from killing anyone in a just war.  Why?  Because part of a soldier’s job description is to go into battle at behest of the government, and government has been given the right to bear the sword from God. However, I do believe that each person in the military is required to weigh the known reasons for going to war.  For example, it would be reprehensible for a Christian to fight on the side of Germany during WWII, but not for a Christian to fight on the side of the U.S. or Great Britain.  Would God forgive a soldier that was involved in an unjust war?  Of course.  It’s a sin, but a forgiveable sin. Based on what I know, George W. Bush is a godly man, and I trust him to enact policy after prayerfully considering it.  I think any decision to go to war with Iraq will be done after all other peaceful options have been exhausted.  President Bush, if he goes to war, will not do so gleefully, but with sorrow and perhaps a certain sense of failure that a peaceful solution couldn’t be resolved.  However, evil men like Saddam Hussein should not be allowed to remain in power.  He has been offered every opportunity to back down and disarm.  Any war that ensues will be because ultimately he asked for it. Lastly, I want to consider your personal remarks to me.  I’m not going to engage in swapping ad hominem attacks back and forth.  You’re completely entitled to your view regarding my eternal salvation, but since you’re not in the position of God, I don’t have to concern myself with your opinion.  We are both fallible, sinful human beings. I know my sins have been forgiven in Christ because I base my salvation on nothing less than the righteousness of Jesus Christ that has been imputed to my account because of my faith in Him through the grace of God Himself.  So I can confidently say with the Apostle Paul, "I care very little if I am judged by you or by any human court; indeed, I do not even judge myself. My conscience is clear, but that does not make me innocent. It is the Lord who judges me" (1 Corinthians 4:3-4). In Christ, CFG

    Why do you accuse me of judging you? If the shoe fits then wear it, but if you accuse you MUST quote the evidence, so I can defend myself. Failing to do so makes you one of Satan’s minions.     I said, you and all of us WILL

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Response:

- Hide quoted text — Show quoted text –     Jesus came to make caring for the welfare of others the cornerstone  of His teaching. Woe unto those who not only disregard, but add to the suffering of others. Just think, for over half a century Islam has been watching their daily news invariably dominated by the spectre of  American supported Jews beating up on their helpless natives, taking their land  and confining them to refugee camps, of not vast prison camps in the Sinai. Imagine the rage, the implacable anger and hate we have carelessly  created in our unstinting support of their oppressors. Yes, we soon will be  refugees in our own land, as city after city disappears in the nuclear holocaust.  The Bible prophesies, it will hit us "when least expected". Pastor Frank: I must take exception with this statement here.  The cornerstone of Jesus’ earthly ministry was not the "caring for the welfare of others."     I go by this quote: Jesus in Mk 12:30: And thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind, and with all thy strength: this is the first commandment. 31: And the second is alike, namely this, Thou shalt love thy neighbour as thyself. There is none other commandment greater than these.     I was arguing how you treat / judge others will get you to heaven or to hell. Your choice. Confessing Jesus and hating or mistreating your brother is still getting to hell, for you will hear Jesus say: Depart from me, for I never knew you.     As far as the rest of your missive is concerned it pains me to read it, for you display a heart of stone, and I see you being judged as you judge and treat  THE LEAST OF THEM, for the first will be last and the last first. If you in any way support the mistreatment of these helpless people, you have no part in salvation. That thought makes me sad. — Pastor Frank THE GOSPEL OF JESUS CHRIST Jesus in Matthew. 5:38 Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: 39: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also. 40: And if any man will sue thee at the law, and take away thy coat, let him have thy cloche also. 41: And whosoever shall compel thee to go a mile, go with him twain. 42: Give to him that asketh thee, and from him that would borrow of thee turn not thou away. 43: Ye have heard that it hath been said, Thou shalt love thy neighbour, and hate thine enemy. 44: But I say unto you, Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you; 45: That ye may be the children of your Father which is in heaven: for he maketh his sun to rise on the evil and on the good, and sendeth rain on the just and on the unjust. 46: For if ye love them which love you, what reward have ye? Do not even the publicans the same? 47: And if ye salute your brethren only, what do ye more than others? Do not even the publicans so? 48: Be ye therefore perfect, even as your Father which is in heaven is perfect.     His teaching is a humongous step up from Judaism’s Exodus 21:23-24 "If any harm follows, then you shall give life for life, eye for eye, tooth for tooth, hand for hand, foot for foot, burn for burn, wound for wound, stripe for stripe."

If I’m judged for judging others, then how will you be judged for judging me?  Where does the cycle end?  I don’t believe that I’m judging others.  I merely see the state of many around the world.  My heart goes out to them because the vast majority of them will die in their sins without accepting Jesus Christ.  Yet my compassion for their unsaved state does not lessen the fact that they’re unsaved. Jesus himself wept at the state of rejecting Israel when he said, "O Jerusalem, Jerusalem, you who kill the prophets and stone those sent to you, how often I have longed to gather your children together, as a hen gathers her chicks under her wings, but you were not willing!" (Luke 13:34).  The heart desire of Jesus was to gather all of Israel under his wing, but what?  They were not willing.  That is the case with the entire unbelieving world.  The entire unbelieving world willfully rejects Jesus Christ, and what happens?  "Look, your house is left to you desolate. I tell you, you will not see me again until you say, `Blessed is he who comes in the name of the Lord.’" (Luke 13:35).  We reject God and Jesus, and God eventually abandons us. This, my friend, is Biblical!  Read Romans 1:18-32 carefully.  It chronicles the descent of mankind from rejection to rationalization and eventually to false religion, and at that point God gives us over to the consequences of our sin. As for our government?  God established government to restrain mankind from further evil.  Without government, there would be anarchy. Paul wrote this: "Everyone must submit himself to the governing authorities, for there is no authority except that which God has established. The authorities that exist have been established by God. Consequently, he who rebels against the authority is rebelling against what God has instituted, and those who do so will bring judgment on themselves. For rulers hold no terror for those who do right, but for those who do wrong. Do you want to be free from fear of the one in authority? Then do what is right and he will commend you. For he is God’s servant to do you good. But if you do wrong, be afraid, for he does not bear the sword for nothing. He is God’s servant, an agent of wrath to bring punishment on the wrongdoer. Therefore, it is necessary to submit to the authorities, not only because of possible punishment but also because of conscience" (Romans 13:1-5) We are to willingly submit to the governing authorities, EVEN WHEN WE DISAGREE WITH THEM.  To do so is to rebel against that authority that God has established.  One of the things that government is to do is to "bear the sword."  This is why I believe the death penalty is Biblical and why I believe there is such a thing as a just war.  The only justified case of disobeying government is when they ask us to do something that God strictly prohibits.  Now before anyone goes on to say that in war people kill people and therefore that is against God’s commandments; there is a huge difference between an individual killing an individual and soldiers killing opposing soldiers in a war.  God commanded the Israelites to obliterate the Canaanites in the book of Joshua.  Were the Israelites guilty of murder?  No.  Recall in the gospel of Luke this encounter:  "Then some soldiers asked him, ‘And what should we do?’ He replied, ‘Don’t extort money and don’t accuse people falsely–be content with your pay.’" (Luke 3:14).  Notice John the Baptist’s didn’t prohibit the soldier from killing anyone in a just war.  Why?  Because part of a soldier’s job description is to go into battle at behest of the government, and government has been given the right to bear the sword from God. However, I do believe that each person in the military is required to weigh the known reasons for going to war.  For example, it would be reprehensible for a Christian to fight on the side of Germany during WWII, but not for a Christian to fight on the side of the U.S. or Great Britain.  Would God forgive a soldier that was involved in an unjust war?  Of course.  It’s a sin, but a forgiveable sin. Based on what I know, George W. Bush is a godly man, and I trust him to enact policy after prayerfully considering it.  I think any decision to go to war with Iraq will be done after all other peaceful options have been exhausted.  President Bush, if he goes to war, will not do so gleefully, but with sorrow and perhaps a certain sense of failure that a peaceful solution couldn’t be resolved.  However, evil men like Saddam Hussein should not be allowed to remain in power.  He has been offered every opportunity to back down and disarm.  Any war that ensues will be because ultimately he asked for it. Lastly, I want to consider your personal remarks to me.  I’m not going to engage in swapping ad hominem attacks back and forth.  You’re completely entitled to your view regarding my eternal salvation, but since you’re not in the position of God, I don’t have to concern myself with your opinion.  We are both fallible, sinful human beings. I know my sins have been forgiven in Christ because I base my salvation on nothing less than the righteousness of Jesus Christ that has been imputed to my account because of my faith in Him through the grace of God Himself.  So I can confidently say with the Apostle Paul, "I care very little if I am judged by you or by any human court; indeed, I do not even judge myself. My conscience is clear, but that does not make me innocent. It is the Lord who judges me" (1 Corinthians 4:3-4). In Christ, CFG

Response:

    Jesus came to make caring for the welfare of others the cornerstone of His teaching. Woe unto those who not only disregard, but add to the suffering of others. Just think, for over half a century Islam has been watching their daily news invariably dominated by the spectre of American supported Jews beating up on their helpless natives, taking their land and confining them to refugee camps, of not vast prison camps in the Sinai. Imagine the rage, the implacable anger and hate we have carelessly created in our unstinting support of their oppressors. Yes, we soon will be refugees in our own land, as city after city disappears in the nuclear holocaust. The Bible prophesies, it will hit us "when least expected".

Pastor Frank: I must take exception with this statement here.  The cornerstone of Jesus’ earthly ministry was not the "caring for the welfare of others."  The cornerstone of Jesus’ earthly ministry was salvation: "For the Son of Man came to seek and to save what was lost" (Luke 19:10).  Caring for others is part of our mission, but not the cornerstone.  The Great Commission is:  "Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you" (Matthew 28:19-20).  Where does it say that we have to relieve the suffering of others?  Don’t get me wrong, we aren’t supposed to be insensitive to the needs of others, but that is secondary to their eternal salvation.  If I see someone in need, and I help them in their need, I’ve done good and enabled that person to live another day.  But if I share the gospel with that person, I’ve given them the key to eternal life!  "What good is it for a man to gain the whole world, and yet lose or forfeit his very self?" (Luke 9:25). Now, do you think the suffering of the Arab people is solely due to American/Israeli subjection?  The Arab people in particular, and all people in general suffer in a hell largely of their own making.  When people systematically reject God and then replace the true and living God with a God of their own making, they open themselves to the wrath of God:  "The wrath of God is being revealed from heaven against all the godlessness and wickedness of men who suppress the truth by their wickedness" (Romans 1:18).  As a result of this rejection, God "gives them over" to the consequences of their sin:  "Therefore God gave them over in the sinful desires of their hearts to sexual impurity for the degrading of their bodies with one another" (Romans 1:24); "Because of this, God gave them over to shameful lusts. Even their women exchanged natural relations for unnatural ones" (Romans 1:26); and "Furthermore, since they did not think it worthwhile to retain the knowledge of God, he gave them over to a depraved mind, to do what ought not to be done" (Romans 1:28). God’s wrath takes on many forms, but primarily it comes through the workings of our own sin.  The Arab people have for centuries rejected God and Jesus Christ, and that is the primary reason why many Arab societies flounder in poverty and idolatry.  Just take a survey of history.  The nations and societies that have built themselves on Christian principles has flourished, while those who don’t have lagged behind.  I also believe that the U.S. is in the beginning stages of being given over by God, but not because of anything that is happening in the Middle East.  We, as a nation, slaughter millions of babies each year in "legalized" abortion.  We, as a nation, turn a blind eye to sexual immorality and homosexuality by calling it an "alternative" lifestyle.  We, as a nation, allow criminally guilty individuals to escape justice by hamstringing our law enforcement officials all in the name of personal "rights." I believe the U.S. has been more than lenient in following every diplomatic avenue regarding Iraq and the Middle East.  We sit idly by while that thug Yassar Arafat unleashes his suicidal goons to terroize innocent Israeli citizens.  We constantly scold Israel everytime they attempt to protect themselves.  We need to allow Israel the ability to protect their sovereign rights as a nation and the lives of their citizens against terrorism.  To not do so is evil and hypocritical! The same goes for Iraq.  We’ve tried every diplomatic route.  Saddam Hussein simply does not want peace!  You cannot pursue peace with a dictator through diplomatic means.  Yassar Arafat and Saddam Hussein are dictators who care nothing for their people; only their own egos. Nobody seems to have learned the lessons of WWII.  What did the appeasment of Hitler yield?  A seven year war that killed hundreds of thousands of young men and millions of innocents (including six million innocent Jews). Frank, generally speaking, I like what you post, but this is wrong-headed thinking.  I usually don’t like to get involved in political wrangling because it doesn’t profit anything in the long run.  I just want to share the Word of God on this NG, but for this I make an exception. CFG

Response:

– Hide quoted text — Show quoted text –     Jesus came to make caring for the welfare of others the cornerstone of His teaching. Woe unto those who not only disregard, but add to the suffering of others. Just think, for over half a century Islam has been watching their daily news invariably dominated by the spectre of American supported Jews beating up on their helpless natives, taking their land and confining them to refugee camps, of not vast prison camps in the Sinai. Imagine the rage, the implacable anger and hate we have carelessly created in our unstinting support of their oppressors. Yes, we soon will be refugees in our own land, as city after city disappears in the nuclear holocaust. The Bible prophesies, it will hit us "when least expected". Pastor Frank: I must take exception with this statement here.  The cornerstone of Jesus’ earthly ministry was not the "caring for the welfare of others."

    I go by this quote: Jesus in Mk 12:30: And thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind, and with all thy strength: this is the first commandment. 31: And the second is alike, namely this, Thou shalt love thy neighbour as thyself. There is none other commandment greater than these.     I was arguing how you treat / judge others will get you to heaven or to hell. Your choice. Confessing Jesus and hating or mistreating your brother is still getting to hell, for you will hear Jesus say: Depart from me, for I never knew you.     As far as the rest of your missive is concerned it pains me to read it, for you display a heart of stone, and I see you being judged as you judge and treat  THE LEAST OF THEM, for the first will be last and the last first. If you in any way support the mistreatment of these helpless people, you have no part in salvation. That thought makes me sad. — Pastor Frank THE GOSPEL OF JESUS CHRIST Jesus in Matthew. 5:38 Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: 39: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also. 40: And if any man will sue thee at the law, and take away thy coat, let him have thy cloche also. 41: And whosoever shall compel thee to go a mile, go with him twain. 42: Give to him that asketh thee, and from him that would borrow of thee turn not thou away. 43: Ye have heard that it hath been said, Thou shalt love thy neighbour, and hate thine enemy. 44: But I say unto you, Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you; 45: That ye may be the children of your Father which is in heaven: for he maketh his sun to rise on the evil and on the good, and sendeth rain on the just and on the unjust. 46: For if ye love them which love you, what reward have ye? Do not even the publicans the same? 47: And if ye salute your brethren only, what do ye more than others? Do not even the publicans so? 48: Be ye therefore perfect, even as your Father which is in heaven is perfect.     His teaching is a humongous step up from Judaism’s Exodus 21:23-24 "If any harm follows, then you shall give life for life, eye for eye, tooth for tooth, hand for hand, foot for foot, burn for burn, wound for wound, stripe for stripe."

Response:

Our deeds bring forth tyrants and give them platforms. I believe that the deeds of our nations have required certain countries to look towards tyrants or strongmen as their only chance of survival. We in all our empirical folly have laid the foundations for the situations that we now have before us. Will we give rise to further problems by facing our current ones with the same lack of foresight shown in previous generations ? Will we continue to glorify the evil that is our own, embellishing it with some sort of high moral decree ? Will we ever learn ? His Servant Darren "I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good…and it would spread a lively terror…. " — Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I — Take SPAMSTOP out of email to reply http://www.cosmicosis.itgo.com *** Even if you don’t believe,      You’re still within the;      World Wide Weave

Response:

– Hide quoted text — Show quoted text – Our deeds bring forth tyrants and give them platforms. I believe that the deeds of our nations have required certain countries to look towards tyrants or strongmen as their only chance of survival. We in all our empirical folly have laid the foundations for the situations that we now have before us. Will we give rise to further problems by facing our current ones with the same lack of foresight shown in previous generations ? Will we continue to glorify the evil that is our own, embellishing it with some sort of high moral decree ? Will we ever learn ? His Servant Darren "I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good…and it would spread a lively terror…. " — Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

    The world shrugs their shoulder and goes on "marrying and giving in marriage" (Mt:24:38) unconcerned about the moral and ethical decline that causes us to make refugees out of good and law-abiding citizen, notably the Palestinian natives. At the same time, no one seem to care, that poverty stricken and corrupt Russian generals are likely selling nukes to oil-rich Arabs. Surely these devices will find their way into our countries along with illegal drugs, to mine our cities. Does anyone doubt it?     As prophesy unfolds, the rich and powerful have too much blood on their hands and soon an accounting will be required of them, as well as from us uncaring bystanders.     Jesus came to make caring for the welfare of others the cornerstone of His teaching. Woe unto those who not only disregard, but add to the suffering of others. Just think, for over half a century Islam has been watching their daily news invariably dominated by the spectre of American supported Jews beating up on their helpless natives, taking their land and confining them to refugee camps, of not vast prison camps in the Sinai. Imagine the rage, the implacable anger and hate we have carelessly created in our unstinting support of their oppressors. Yes, we soon will be refugees in our own land, as city after city disappears in the nuclear holocaust. The Bible prophesies, it will hit us "when least expected".     Keep on posting Darren. You are not unlike the prophets of old crying in the wilderness. History repeats itself, as we would rather persecute the prophets than do something about our sinking moral and ethical values. — Pastor Frank George Bush take note:     Christ in Mt:18:7: Woe unto the world because of offences! for it must needs be that offences come; but woe to that man by whom the offence cometh!

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Question:

Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah). Does anyone out there really LIKE this program for small business use? — Virginia "Forgiveness is easier to obtain than permission." www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242

Response:

Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah).

You aren’t going to find many accounting packages that allow you to edit a transaction once it is posted.  Posting of transactions should be saved for the end of whatever period you are using, be it week, month, whatever.  You can always make correcting entries if you find that a transaction was posted in error. — Todd Stephens

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Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah).

One things that made QuickBooks popular for non-accountants (and made many accountants unhappy) was the ability to change transactions. Newer versions of QB made it possible to warn against changes that may screw up prior versions of tax returns, financial statements and bank reconciliations, but they still can be made. You aren’t going to find many accounting packages that allow you to edit a transaction once it is posted.  Posting of transactions should be saved for the end of whatever period you are using, be it week, month, whatever.  You can always make correcting entries if you find that a transaction was posted in error. –? Todd Stephens

         Mike Block, QuickBooks Tax Cut CPA, 954-566-7540            Founding Member: QuickBooks Advisory Council        Error Codes/Fixes  http://blocktax.com/quickbooks-errors.htm QB Add-ons http://blocktax.com/quickbooks-addons/quickbooks-add-ons.htm

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i’ve used many software programs, designed for anything from 1 person offices to huge corporations. and what i loathe about simply is its inability to create a batch file prior to posting. with a batch file, i can review all entry work, post at my convenience. with simply, it’s click and boom no chance of changing. of course, it’s easy enough to create an adjusting entry, etc., but … i still prefer the batch method. other than that complaint, it’s a very user-friendly program, fairly easy to learn & operate. yes, there are some things which could easily be improved, but bear in mind they’re creating revisions on a general market; to modify it to individuals is a bit much. give yourself time to explore the program; its setup is the most difficult part. after this, you’ll find that once you become used to it, actual entry work is quick. i don’t know why you received a ‘bad data’ error, but you may want to give accpac a call; it should be part of your program guarantee to get some customer service help. remember to make regular backups of your company file (quite easy), run integrity checks once a month. in my experience, for a small office, it’s as good as it gets.

– Hide quoted text — Show quoted text – Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah). Does anyone out there really LIKE this program for small business use? — Virginia "Forgiveness is easier to obtain than permission." www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242

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Thanks for the info, guys. Just for future reference, after setting up a new business four times in a row to correct mistakes,  I found that you CAN go back and make changes to an entry, but only in accrual-basis accounting, not cash-basis accounting. Simply Accounting tells you over and over that accrual is preferred, and seems to force you to work this way. I prefer to work on a cash basis, as I am a small business, and prefer to be able to see exactly where I stand on any day. — Virginia www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242

– Hide quoted text — Show quoted text – Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah). Does anyone out there really LIKE this program for small business use? — Virginia "Forgiveness is easier to obtain than permission." www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242

Response:

Thanks for the info, guys. Just for future reference, after setting up a new business four times in a row to correct mistakes,  I found that you CAN go back and make changes to an entry, but only in accrual-basis accounting, not cash-basis accounting. Simply Accounting tells you over and over that accrual is preferred, and seems to force you to work this way. I prefer to work on a cash basis, as I am a small business, and prefer to be able to see exactly where I stand on any day.

You should prefer the accrual basis of accounting since that method reports the true results of your business. – Hide quoted text — Show quoted text – — Virginia www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242 Is it just me, or is this program not for the faint of heart? I was hoping to automate my accounting process a little more, as I’ve been just using spreadsheets for a number of years. I’ve spent hours setting up accounts (rather redundant headings are necessary) only to have the whole works crash with a ‘bad data’ error. It seems, once a transaction is posted, it is not possible to go back and make any changes (ie fix typos, change account, blah blah). Does anyone out there really LIKE this program for small business use? — Virginia "Forgiveness is easier to obtain than permission." www.thedesignuniverse.com Phone (250) 563-3222 Fax (250) 563-3242

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Question:

Can someone with one kind of bipolar pass on a predisposition for a different kind of bipolar?  My dad only gets manic but I get both manic and depressed.  Also, does it skip a generation?  It seems like my aunt was OK and her daughter was OK but both her kids got it.

I think so.  My husband’s maternal grandfather had BP II from the family tales.  His mother likewise.  He and his sister have had episodes of depression but no mania. My maternal grandmother had BP I (from family stories).  Mother’s sister G. had depressive episodes, got her first mania in her seventies. One cousin (not G.’s daughter but other aunt D.’s) has had at least one mania.  I have BP I, my sister likewise. A friend’s mother has BP I and none of her children have it. And so on.

Response:

Can someone with one kind of bipolar pass on a predisposition for a different kind of bipolar?  My dad only gets manic but I get both manic and depressed.  Also, does it skip a generation?  It seems like my aunt was OK and her daughter was OK but both her kids got it. — "We can have a democratic society or we can have great concentrated wealth in the hands of a few. We cannot have both." – Louis Brandeis Supreme Court Justice (1916-39)

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Can someone with one kind of bipolar pass on a predisposition for a different kind of bipolar?  My dad only gets manic but I get both manic and depressed.  Also, does it skip a generation?  It seems like my aunt was OK and her daughter was OK but both her kids got it.

Genes so far linked to bipolar disorder include three differing forms of the serotonin receptor in the brain; five or more different second messenger proteins (G proteins) which carry receptor activity into the brain cell, the neuron; dysregulation of dopamine receptor activity in the frontal cortex, particularly D2 and D3 sites; insensitivity to thyrotropin hormones; adrenal cortical defects, particularly in cotisol regulation; a point mutation in the GABA/calcium channel leading to hyperpolarization; and this is just off the top of my sore aching head. Oh yeah, also a potential defect in the fatty acid elongation enzyme, whose name escapes me, which leads to deficiencies in neuronal membrane concentrations of DHA and EPA, omega 3 fatty acids found in fish. Heritability does have a specific meaning in the science of genetics. It means precisely the amount to which the genetic component of a trait or illness contributes to the observed trait or illness. To use the more common nature vs. nurture phraseology, schizophrenia and bipolar mood disorder are believed to be 80% the result of genetic effects, with undetermined environmental influences accounting for the other 20%. Of course, these are only estimates, derived from statistical analysis of groups or samples of the population at large. I have seen heritability estimates of greater than 80% for bipolar disorder. Moreover, some of the same genes predispose towards more than one of the disorders listed below; i.e. the same gene may predispose both towards mood disorders and alcoholism and schizophrenia. Bipolar disorder is heterogenous, involving a number of genes, with differing alleles having greater or lesser dominance and penetrance. What that means is that differing forms of the the implicated genes have differing effects in different groups or individuals. That is why there is not a single treatment modality that works for everyone. —

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Question:

Doesn’t suprise me.  The firms use this type of install as a training ground.  That’s what makes nobodies like me an ERP power user in 6 months. (Except as a nobody, I haven’t had the chance to become an ERP power user. I do have some knowledge) I think the litigation will continue, reaching a climax in the first quarter. (Y2K)  MEK – Hide quoted text — Show quoted text – Good for them!  A large amount of work we do is cleaning up after previous IT installations and consultants.  With a huge rash of instant IT consultants (MCSE in 3 weeks), business is going to booming. I really hope the industry gets some regulation.

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Good for them!  A large amount of work we do is cleaning up after previous IT installations and consultants.  With a huge rash of instant IT consultants (MCSE in 3 weeks), business is going to booming. I really hope the industry gets some regulation.

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- Hide quoted text — Show quoted text – Deloitte and PeopleSoft Sued for Botched ERP Installation New York (Nov. 3, 1999) — The maker of Gore-Tex brand fabrics has sued Deloitte & Touche, its consulting affiliate, and software vendor PeopleSoft alleging fraud and negligence in their implementation of an enterprise resource planning technology system. http://www.electronicaccountant.com/news/110399_5.htm — Jim Hudspeth, CPA – http://jim.hudspeth.com I wish I could get away with shoddy work like that, but I’m just a small business CPA! I noticed that PeopleSoft and SAP are now advertising a lot on television.  Do you suppose the large enterprise accounting software market has topped out, and they are having to look for customers?  It’s no wonder! Regards, Robert W. Scroggins, CPA A Texas CPA http://www.atexascpa.com Before you buy.

Point of clarification regarding authorship: My post above stopped with my electronic signature.  Bob’s post begins two lines later.  His first line is preceded by a "", which causes it to appear as though I wrote it.  I didn’t. No problem – just clarification. — Jim Hudspeth, CPA – http://jim.hudspeth.com – Washington, USA

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Deloitte and PeopleSoft Sued for Botched ERP Installation New York (Nov. 3, 1999) — The maker of Gore-Tex brand fabrics has sued Deloitte & Touche, its consulting affiliate, and software vendor PeopleSoft alleging fraud and negligence in their implementation of an enterprise resource planning technology system. http://www.electronicaccountant.com/news/110399_5.htm — Jim Hudspeth, CPA – http://jim.hudspeth.com I wish I could get away with shoddy work like that, but I’m just a

small business CPA! I noticed that PeopleSoft and SAP are now advertising a lot on television.  Do you suppose the large enterprise accounting software market has topped out, and they are having to look for customers?  It’s no wonder! Regards, Robert W. Scroggins, CPA A Texas CPA http://www.atexascpa.com Before you buy.

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Deloitte and PeopleSoft Sued for Botched ERP Installation New York (Nov. 3, 1999) — The maker of Gore-Tex brand fabrics has sued Deloitte & Touche, its consulting affiliate, and software vendor PeopleSoft alleging fraud and negligence in their implementation of an enterprise resource planning technology system. http://www.electronicaccountant.com/news/110399_5.htm — Jim Hudspeth, CPA – http://jim.hudspeth.com

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Deloitte and PeopleSoft Sued for Botched ERP Installation

It appears that suing over ERP installations is becoming a booming business in the legal community <grin.

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Deloitte and PeopleSoft Sued for Botched ERP Installation It appears that suing over ERP installations is becoming a booming business in the legal community <grin.

ERP vendors are like porpoises, they show the way to fat, overfunded companies which are like schools of tuna.

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Question:

Looking for recommendations on good Y2K complaint accounting software for a catholic parish. — Mike Tate

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Looking for recommendations on good Y2K complaint accounting software for a catholic parish.

Believe it or not….Quickbooks. I set the parish and the parish school up on it about a year and a half ago and QB has worked perfectly. I assume your diocese has a recommended (required) chart of accounts; just dump ‘em into QB and you’re off. — Steve "Our chief weapons are fear, surprise, ruthless efficiency, an almost fanatical devotion to the pope and nice red uniforms."

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Question:

Hi – I’m glad to see so many familiar faces after all this time.  I’m alive and well and lurking around, but with little time to chat, fight or sing songs, even the ADHD fighting song "Catch Me if You Can." I am now a vocational counselor and english as a second language (ESL) instructor at the Jewish Family and Vocational Center here in Louisville, Ky, and on the side, among other things, I am editor of a general interest monthly magazine called MAX distributed in Jefferson County, Ky.  Both of these occupations represent extremely odd twists and can be accounted for only by factoring in the extremely positive aspects of ADHD.  I have no training or experience in vocational counseling or language instruction, I’m not Jewish, and I have no training or experience as a journalist. Go figure. Cheers, Tom Fox

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- Hide quoted text — Show quoted text – Hi – I’m glad to see so many familiar faces after all this time.  I’m alive and well and lurking around, but with little time to chat, fight or sing songs, even the ADHD fighting song "Catch Me if You Can." I am now a vocational counselor and english as a second language (ESL) instructor at the Jewish Family and Vocational Center here in Louisville, Ky, and on the side, among other things, I am editor of a general interest monthly magazine called MAX distributed in Jefferson County, Ky.  Both of these occupations represent extremely odd twists and can be accounted for only by factoring in the extremely positive aspects of ADHD.  I have no training or experience in vocational counseling or language instruction, I’m not Jewish, and I have no training or experience as a journalist. Go figure. Cheers, Tom Fox

Can’t figure how you got that job with that background but at least it won’t be dull. Fargo

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Well, there’s the trick.  Reading between the lines isn’t easy.  I told what my qualifications and experiences were not, but I didn’t say what my qualifications and experiences were.   My point, perhaps, is that the wiring of your basic ADHD mind thrives upon the weird and unexpected, maybe.  Mine does, within limits.  This job, for me, is weird and unexpected.  I did not mean to imply that I was either uneducated, unqualified or unable to perform the tasks required. It’s just that I’ve never done it before. If I were an accountant, for example, with no hope of ever doing anything other than accounting, I would have eaten a poisonous bug a long time ago. Aim high.  At least I won’t shoot myself in the foot.  The absolute worst that can happen is they can say "no."  But if I just sits on my butt and do nothing but bitch and moan (self-pity and depression – ther are pills for this) ‘taint nothing gonna happen, after my friends and family find the door.   Cheers, Tom Fox   Louisville, Ky. – Hide quoted text — Show quoted text -Can’t figure how you got that job with that background but at least it won’t be dull. Fargo

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If I were an accountant, for example, with no hope of ever doing anything other than accounting, I would have eaten a poisonous bug a long time ago.

Wiping the soda off my screen…ROFLMAO! — Ann annbal*at*thecia.net 9 is the spam trap!

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If I were an accountant, for example, with no hope of ever doing anything other than accounting, I would have eaten a poisonous bug a long time ago.

Me, too!  I did bookkeeping for 10 years and now I am going to school and working for $9 doing psych rehab work.  The people I work with routinely get jobs making more than me, after having come out of the psych hospital.  One job lead that came across my desk was for a full-charge bookkeeper for $37K per year, which I am fully trained and qualified to do.  But you’d have to split that poison bug with me if I thought I would have to go back to accounting. Kay Dallas

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Question:

Many thanks Mr. Gambier.  I needed to think out loud. – Hide quoted text — Show quoted text – Thanks for being patient.  No, not an overall loss on the entire contract, but nevertheless a loss in year three.  $300 loss in year 3, but an overall profit of $1700 on the entire contract. This is so because in year 2, profit was overstated (i.e., overestimated).  This is the case since estimated cost to completion was underestimated in year 2; therefore, causing the percentage of revenue recognized in year 2 to be higher that it should have been and year 3’s revenue to be lower that it should be. The entry I anticipate would be a credit to interim profits for $300 in year 3 rather than the typical debit in a profit situation. Please comment.  Thanks I’m still not sure we’re communicating here.  The situation I think you’re describing is one where (for simplicity’s sake) you think you’re going to make $3,000 profit in three years, with the work being evenly spread over each year.  Therefore you think at day 0 that you’re going to recognise $1,000 a year. At the end of year 2 this is still what you believe (so you’ve credited the P&L by $2,000). However in year 3 it all goes horribly wrong and you finish the project with a net profit for the whole project of $1,700 (instead of $3,000). Well, in this case you’d have a net debit to the P&L of $300 in year 3. Simple as that.  I think you did understand it right all along, but you have to be very careful when you talk about profits and losses in long term contracts.  As I think you realise.  Hope this helps. — "If you want to look at my feet, say so," said the young man. "But don’t be a God-damned sneak about it."                              (from "A Perfect Day for Bananafish")

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– Hide quoted text — Show quoted text -Thanks for being patient.  No, not an overall loss on the entire contract, but nevertheless a loss in year three.  $300 loss in year 3, but an overall profit of $1700 on the entire contract. This is so because in year 2, profit was overstated (i.e., overestimated).  This is the case since estimated cost to completion was underestimated in year 2; therefore, causing the percentage of revenue recognized in year 2 to be higher that it should have been and year 3’s revenue to be lower that it should be. The entry I anticipate would be a credit to interim profits for $300 in year 3 rather than the typical debit in a profit situation. Please comment.  Thanks

I’m still not sure we’re communicating here.  The situation I think you’re describing is one where (for simplicity’s sake) you think you’re going to make $3,000 profit in three years, with the work being evenly spread over each year.  Therefore you think at day 0 that you’re going to recognise $1,000 a year. At the end of year 2 this is still what you believe (so you’ve credited the P&L by $2,000). However in year 3 it all goes horribly wrong and you finish the project with a net profit for the whole project of $1,700 (instead of $3,000). Well, in this case you’d have a net debit to the P&L of $300 in year 3. Simple as that.  I think you did understand it right all along, but you have to be very careful when you talk about profits and losses in long term contracts.  As I think you realise.  Hope this helps. — "If you want to look at my feet, say so," said the young man.  "But don’t be a God-damned sneak about it."                               (from "A Perfect Day for Bananafish")

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– Hide quoted text — Show quoted text – Thanks for your input.  This is the situation. Year         % completion          Estimated profit 1                40%                     $1,000 2                75%                     $1,000 3               100%                   ($   300)  Yr three loss Total for contract  est profit     $1,700 Thanks Hold up a second.  The figures I was giving for "Estimated profit" were the estimated TOTAL profit for the whole contract.  Obviously as time goes by you’ll revise your estimate for the total contract. If your estimate for the total project never wavers from $1,700 then you’ll just accrue profits based on % completion.  Your $300 loss in year 3 just doesn’t make any sense. Are you saying that in year 3 you have to spend $300 finishing off the last 25% of the project but you have no further billings? That’s not really a loss then is it?

Thanks for being patient.  No, not an overall loss on the entire contract, but nevertheless a loss in year three.  $300 loss in year 3, but an overall profit of $1700 on the entire contract. This is so because in year 2, profit was overstated (i.e., overestimated).  This is the case since estimated cost to completion was underestimated in year 2; therefore, causing the percentage of revenue recognized in year 2 to be higher that it should have been and year 3’s revenue to be lower that it should be. The entry I anticipate would be a credit to interim profits for $300 in year 3 rather than the typical debit in a profit situation. Please comment.  Thanks

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Thanks for your input.  This is the situation. Year         % completion          Estimated profit 1                40%                     $1,000 2                75%                     $1,000 3               100%                   ($   300)  Yr three loss Total for contract  est profit     $1,700 Thanks

Hold up a second.  The figures I was giving for "Estimated profit" were the estimated TOTAL profit for the whole contract.  Obviously as time goes by you’ll revise your estimate for the total contract. If your estimate for the total project never wavers from $1,700 then you’ll just accrue profits based on % completion.  Your $300 loss in year 3 just doesn’t make any sense. Are you saying that in year 3 you have to spend $300 finishing off the last 25% of the project but you have no further billings?  That’s not really a loss then is it? — "If you want to look at my feet, say so," said the young man.  "But don’t be a God-damned sneak about it."                               (from "A Perfect Day for Bananafish")

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Thanks for your input.  This is the situation. Year         % completion          Estimated profit 1                40%                     $1,000 2                75%                     $1,000 3               100%                   ($   300)  Yr three loss Total for contract  est profit     $1,700 Thanks – Hide quoted text — Show quoted text – Under the percentage of completion method, when a loss is expected on the ENTIRE contract, the loss reported is the total expected loss on the ENTIRE contract plus all previous profit. Question:  What happens when the ENTIRE contract results in a profit, but the LAST year ONLY results in a loss?  Is the accounting in the loss year same as previous years? Put it in numbers. Year         % completion          Estimated profit 1                40%                     $1,000 2                75%                     $1,000 3               100%                     $  300 Is this what you mean? This isn’t problematic – you accrue $400 profit in year 1, $350 profit in year 2 and charge $450 cost in year 3. Perhaps I don’t understand your question.  But it’s the only way I can envisage a loss in the last year on an overall profitable contract.  And you account for it exactly the same as you do profits. — "If you want to look at my feet, say so," said the young man. "But don’t be a God-damned sneak about it."                              (from "A Perfect Day for Bananafish")

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Under the percentage of completion method, when a loss is expected on the ENTIRE contract, the loss reported is the total expected loss on the ENTIRE contract plus all previous profit. Question:  What happens when the ENTIRE contract results in a profit, but the LAST year ONLY results in a loss?  Is the accounting in the loss year same as previous years?

Put it in numbers. Year         % completion          Estimated profit 1                40%                     $1,000 2                75%                     $1,000 3               100%                     $  300 Is this what you mean? This isn’t problematic – you accrue $400 profit in year 1, $350 profit in year 2 and charge $450 cost in year 3. Perhaps I don’t understand your question.  But it’s the only way I can envisage a loss in the last year on an overall profitable contract.  And you account for it exactly the same as you do profits. — "If you want to look at my feet, say so," said the young man.  "But don’t be a God-damned sneak about it."                               (from "A Perfect Day for Bananafish")

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Under the percentage of completion method, when a loss is expected on the ENTIRE contract, the loss reported is the total expected loss on the ENTIRE contract plus all previous profit. Question:  What happens when the ENTIRE contract results in a profit, but the LAST year ONLY results in a loss?  Is the accounting in the loss year same as previous years? Thanks

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|Under the percentage of completion method, when a loss is |expected on the ENTIRE contract, the loss reported is the total |expected loss on the ENTIRE contract plus all previous profit. | |Question:  What happens when the ENTIRE contract results in a |profit, but the LAST year ONLY results in a loss?  Is the |accounting in the loss year same as previous years? | |Thanks | | Accounting a fiscal loss neccessitates data extraction and compilation to satisfy revenue policy and may even require journal adjustment. Accounting in the loss year follows local and regional guidelines. qs

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Sorry, I should have mentioned US GAP. Any info appreciated Charlie

– Hide quoted text — Show quoted text -|Under the percentage of completion method, when a loss is |expected on the ENTIRE contract, the loss reported is the total |expected loss on the ENTIRE contract plus all previous profit. | |Question:  What happens when the ENTIRE contract results in a |profit, but the LAST year ONLY results in a loss?  Is the |accounting in the loss year same as previous years? | |Thanks | | Accounting a fiscal loss neccessitates data extraction and compilation to satisfy revenue policy and may even require journal adjustment. Accounting in the loss year follows local and regional guidelines. qs

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Sorry, I’ll get it right!  I meant US GAAP. Thanks

– Hide quoted text — Show quoted text -Sorry, I should have mentioned US GAP. Any info appreciated Charlie |Under the percentage of completion method, when a loss is |expected on the ENTIRE contract, the loss reported is the total |expected loss on the ENTIRE contract plus all previous profit. | |Question:  What happens when the ENTIRE contract results in a |profit, but the LAST year ONLY results in a loss?  Is the |accounting in the loss year same as previous years? | |Thanks | | Accounting a fiscal loss neccessitates data extraction and compilation to satisfy revenue policy and may even require journal adjustment. Accounting in the loss year follows local and regional guidelines. qs

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Question:

Where in the world did you get your definition of CUTE from?  You have got to be one of the most insensitive people I’ve come across in a while.. I strongly feel that you owe eveyone in the news group an appoligy, especially people of color..(which includes myself)..You really have a sick sense of humor and I hope that you don’t post to the news group anymore because I don’t think people really want to hear what you have to say..

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snip< As one who was baffled by the joke, I have been reluctant to join the debate.   However, I do believe that the poster has been unfortunate in the reaction she received.   After all, there is probably not a joke in the world which will not offend somebody – another ethnic grouping, another profession, and so on.   Bearing in mind that the members of this group represent much of the English speaking world it is a fact that every time somebody tells a joke somebody else will be offended.   The group needs to take a view on this.   snip< Robert Tusler, Surrey, England

Robert makes a good point.  Don’t take me wrong. I am not defending this particular instance, but if we start getting too PC, we will have to give up the limericks, too, won’t we.  Some of them might be construed as offensive to some groups.   My reaction to this joke was to ignore it just as I would if someone had told me the joke at a party.  I think that it was a case of ignorance on Mickey’s part (see her husband’s post) and her error has certainly been made loud and clear.   One thing I learned from Rae Davies is that I need to give myself a little time before posting an instant reaction to something like this, and I wasn’t one of her critics, either.  Just watching the follow-up and her response let me know that this cyberspace communication system has some real flaws in it and an instant emotional reaction–which is very possible–isn’t necessarily communicated or received the way it was intended.   I’m very happy to see the more forgiving and reconciliatory messages that have emerged in the past day or so re: this instance.  I hope Mickey sees them and realizes that she has not been banned forever.   Just as a side note:  I told my husband the gist of the joke and he didn’t get it either.  He’s no dumby.  Maybe I bug him too much. Susan H.

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I did not see the ‘joke’ but I agree with Robert Tusler(sp) when he says that jokes can generally offend someone/group/etc.  I don’t tell jokes for that reason(my own decision, not necessarily for anyone else).  I do,however, enjoy puns, plays on words, etc. I know some will punish me for that but most of the time they do not have the potential to hurt someone. I do believe that the original poster did not have the intention to offend, as I know sometimes I have inadvertantly.  This group has been good at not flaming unnecessarily.  Let us get back to the purpose of the group and stitch our brains out! Steve

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Well, evidently my server was down for awhile over the weekend, blocking the responses, but not the joke.  I take it there’s been an abject apology?  Good.  That should end it. I had a boss a few years ago who was _notorious_ for telling the wrong joke to the wrong group.  His staff would be at the back of the meeting room, frantically signalling him to stop, all to no avail.  It was like watching a train wreck.  The odd thing was that he would never have told inappropriate jokes in a one-on-one situation or in a small group.  It only seemed to happen when it was a formal situation to a group whose good will and financial support were crucial to our organization’s well-being. What can we all learn from this?   1) We all foul up from time to time. 2) One reprimand, preferably in private, is enough. 3) One apology, preferably in public, is enough. I’ve already carried this on too long myself. Lee

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A farmer goes to the attorney and says he wants of them there de-vorces. Attorney:  Do you have any grounds? Farmer:  Yup’ I got 30 acres. Attorney:  No, that’s not what I mean.  Do you have a case?                     (case is also a type tractor) Farmer:  Nop I got a John Deere, that’s what I farm them 30 acres with. Attorney:  No, no you’re no understanding me, do you want to bring                 a suit?  Have you got a grudge? Farmer:  Well, I’ve got a suit hanging in the closet and the grudge- that’s               where I keep my John Deere.  (to him grude is garage) Attorney:  Oh, we’re not communicating at all.  Let’s talk about your wife                 for a minute.  Do you beat your wife up? Farmer:  Nop, she gets up about 4:30, bout the same time I do. Attorney:  No, no, is she a nagger? Farmer:  No, but that last kid was, that’s the reason I want a de-vorce. (cute joke mom sent to me in 1994) I just came across this and even though it is not about cross stitch had to post it.  Mickey

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    GARBAGE

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writes: Newsgroups: rec.crafts.textiles.needlework
I shall refrain from both flaming and repeating the bunch of nonsense you

called a cute joke.  But I have no understanding of the complete and utter lack of sensitivity.  If within some writing reference is made to some group, and to compound the offense, the group is regarded in some denigrating way, what the hell is funny about it.  I agree with BJoyce completely, and I know that I shall never again read a post by you.

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I AM ABSOLUTELY STUNNED!!!  UUUGGGHH…TASTE, PLEASE!

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Corbin) writes: A farmer goes to the attorney and says he wants of them there

de-vorces…..  Mickey This post was one of the most inappropriate and offensive that I can possibly imagine.  It has no place here or anywhere else.   I am offended personally and truly angry that my friends here were hurt and insulted by this post. Mickey, you owe us all a prompt and sincere apology.  I hope that in the future you will not only temper your remarks but examine your thinking and attitudes that prompted this post and make an effort to change them. RCTN is a beautiful place.  We do not wish to read material of this nature and are embarrassed and horrified when such is posted by "one of our own." Martha Beth

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I’m leaving all the post I’m replying to in here because the tone just wouldn’t come through if it were edited. – Hide quoted text — Show quoted text – Corbin) writes: A farmer goes to the attorney and says he wants of them there de-vorces…..  Mickey This post was one of the most inappropriate and offensive that I can possibly imagine.  It has no place here or anywhere else.   I am offended personally and truly angry that my friends here were hurt and insulted by this post. Mickey, you owe us all a prompt and sincere apology.  I hope that in the future you will not only temper your remarks but examine your thinking and attitudes that prompted this post and make an effort to change them. RCTN is a beautiful place.  We do not wish to read material of this nature and are embarrassed and horrified when such is posted by "one of our own."

Actually, the self-righteous flames are starting to sound as ugly as the original "joke."  Now that everyone has posted their "I agree, it was hideously offensive" notes, can we let it rest?  The tone that the replies have taken is possibly *more* disruptive than the original post, because there have been so *many* of them.  If you didn’t like her post, email her.  There’s no need to stand around congratulating each other on how morally superior we all are.   I know that’s not the intent of all the posts, but it’s certainly starting to look like it.   I’m sorry, but the level of vituperation in some of the replies to the original very poor "joke" is completely unnecessary.  While it’s customary on USENET to beat dead horses until they’ve decayed into skeletons, may we *please* drop it?  It was _one_ post.  It’s been denounced enough times.  You don’t REALLY need to add another "me too" post to the list of people who have been offended.  Yes, it was a lousy joke.  Drop it, unless she posts another. —     Chaos Monger         Real religions don’t have trade secrets:          and                read alt.religion.scientology   Jill-of-all-Trades     Member, Knights of Xenu (1995)            KD6WUR

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Martha Beth This post was one of the most inappropriate and offensive that I can possibly imagine.  It has no place here or anywhere else.   I am offended personally and truly angry that my friends here were hurt and insulted by this post.

As one who was baffled by the joke, I have been reluctant to join the debate.   However, I do believe that the poster has been unfortunate in the reaction she received.   After all, there is probably not a joke in the world which will not offend somebody – another ethnic grouping, another profession, and so on.   Bearing in mind that the members of this group represent much of the English speaking world it is a fact that every time somebody tells a joke somebody else will be offended.   The group needs to take a view on this.   I subscribe to the Multiple Sclerosis support group, which has been invaded recently by members of alt.tasteless.   Rest assured that nothing has appeared here which even approaches the obscenities that we have seen there.   But if the group does not want to take the risk that somebody might be offended, it should discourage the telling of jokes.   I would not be surprised if the original poster of the joke does not post here again.   I would not blame her if she did.   Her offence was really to misjudge the culture, which is, after all, a pretty jokey one. I hope you don’t mind this intervention.   On a lighter note, I think there is one profession which has no jokes to object to.   After ten years of searching, I have amassed two accountant jokes.   Both of these are totally incomprehensible to non-accountants, and are only ever told by accountants to other accountants.   Robert Tusler, Surrey, England

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I have posted this before. There is so much good in the worst of us And so much bad in the best of us That it ill behooves any of us To talk about the rest of us. — Jim Cripwell.    Ottawa.     Canada. Proud to be a Canadian.

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