Welcome back. We're at lecture 39. Kind of lively discussion going because we've got registration going on for the next semester. So good discussions if you want kind of off-the-record assistance for me relative to math courses. I'll be glad to give it to you off the record. So if you want to know who to take for 242, I'll make some recommendations and so on. The class that I mentioned earlier, Dr. Norris, he actually does the 242 Distance Ed version. So what you've, you guys are having now for 241 kind of. You're the in-class part, but the DVD part, he does that for 242. He's also the 242 coordinator. You probably get emails from him, the Maple coordinator as well. He also teaches an on-campus section, but it is flagged as a laptop section. So those people that sign up for that section, I think it's section three. It is probably maple heavy, would be a good way to describe it. More maple intensive than the normal section, but you would need to have a laptop that you can bring with you to class, which I'm sure a lot of you have, but you also have to have maple installed on that laptop, and that's kind of a prerequisite of that section. I think it's 242 section three, but he is excellent. Stitz would be the man, actually Stitzinger, but he's not teaching it in the fall, so unfortunately. Any questions, clarifications, anything about yesterday's stuff on series? I don't know if you can tell, but this is one of my favorite content items from this course. I like them all, but this is probably my most favorite, so when we get into this section on sequences and series. All right, well let's pick up. Actually, we left off with this, so let's begin because we're going to revisit this later. I want to tell you how we're going to see it. So we're in chapter eight section two on series. It's the first section on series. The prior section was on sequences, and we've kind of tied those together as to why it makes sense to look at sequences prior to series. So we came up with, I think we started with the right side of this at the end of class yesterday, and we decided this was a geometric series because you are multiplying by x as you go, and it is infinite, so it's an infinite geometric series. We would expect it to converge if the absolute value of the ratio, which in this case is x, is less than one. And we know the value to which it converges. It converges to first term over one minus the ratio, thus the left side of this equation. It's kind of an awkward equation that you have this kind of infinite termed, for lack of better word, polynomial on the right side, and it's equal to this nice, concise, rational function, one over one minus x. Some of the things that you're going to do with this is if these two things are equal, you should be able to take the derivative of the left side. We're not at that point yet, but before we leave this chapter, we should be able to take the derivative of the left side and also take the derivative of the right side, and those things should be equal to each other. So we end up with another equation that gives us this power series thing, this kind of polynomial looking thing on the right side. We could also integrate the left side as long as we integrated the right side, and those should also be equal. Now there's a little subtlety there that when you integrate, there's a possibility of some arbitrary constant here and also here that that needs to be dealt with, but if we have some other conditions in the problem, we can do that. So we will visit this particular topic. Actually, we visit it again when we get to Taylor series. We will start with a function and then we'll use first derivative, second derivative, third derivative. How many of you have worked with Taylor series before or Taylor polynomials? Anybody? Okay. So you use higher order derivatives to write this out kind of in an expanded form. It just so happens that it's expanded form is this guy right here.  That might be a good one to kind of memorize that then you can use it to take the derivative both sides, integrate both sides, and then also you know ahead of time what we're going to get for this Taylor expansion. All right, let's take a look at telescoping series. Usually when we're handed a telescoping series, it doesn't have that appearance. It doesn't look like it's telescoping. In fact, we could write out a few terms of this. None of us in here will probably say, Oh, I think that converges. I'm positive it does. No, I'm positive it doesn't converge. I can tell by the way the numbers are going. You can't tell from this form. So if n were one, what would the first term be? One third. If n were two, what's the second term? This isn't the way to do it, but I'm trying to write these out so you can see that it's difficult this way to one eighth, third term, one 15th. And I'll put a dot, dot, dot because it just goes on. But I don't think the clarity of the decision is there. One third plus one eighth plus one 15th. Does it converge? I don't know. Maybe they are getting smaller. But we'll see today that that doesn't always guarantee that something's going to converge because they get smaller. The value of this term converges, but does the sum converge? That's a different question. So does the series converge? I wouldn't want to wager a guess from this particular version. So let's take the description of the nth term, and I'm sure you'll be delighted with this because we always like to dig back into the past of prior calculus courses to resurrect something we've already done. Does that look familiar? Probably not the n's, but if the n's were x's, wouldn't that look familiar? What do we call that? Partial fractions. So we're going to decompose this particular description of the nth term in using this technique of partial fractions. So this is a linear term, so it gets a constant numerator. The other is also linear, so it gets a constant numerator. What would be the kind of the procedure, the technique from this point? What do we do in this common denominator? So we need an n plus two here, n plus two here. We need an n here, and an n here. So the denominators are the same, so we can go ahead and add up the numerators, and in fact left side and right side the denominators are now the same, so we can equate the numerators. It might seem like a lot of work to kind of make a decision if it converges or diverges, but I think it'll be helpful enough to not only make that decision, but also find the value to which it converges if it in fact converges. So we're going to have n terms just like we had x terms, and then we're also going to have some things that don't have n in them, so those will be our constants. So if we distributed and grouped together like terms, how many n do we have? A plus b. And what else do we have that doesn't have an n in it? 2a. 2a. So what are the equations that result by equating coefficients left side and right side? A plus b has to be zero because we don't have any n on the left side, and 2a has to be one because we have the constant on the left side is one, so the constant on the right side must also be one. So it looks like a is equal to one-half, and if that's the case then b is equal to negative one-half. So we were handed this, we wrote out a few terms, it wasn't all that clear. Let's see if we can decompose this description of the nth term. So we want a over n is how we started, and it's going to be plus b, which is negative a half. We'll doctor this up just a tad. So one-half over n is the same as one over two n. Negative a half, I just changed the sign in the middle to negative, and basically multiplied the numerator and denominator by two, so does that look okay with the values that we have? Now let's write some of these out, and you'll see why it's called what it's called. It's telescoping, and you'll see why. So when n is one, what's the first kind of difference of numbers that are generated? This one would be one-half, one-sixth, one-sixth. Okay, let's go to the next value for n when n is two, one-eighth. It doesn't look like anything special so far. Let's keep going. n is three, one-tenth, n is four. I'm going to put dot, dot, dot. Let's see if we can kind of figure out what's going to happen with this. Here's a minus one-sixth. Here's a plus one-sixth. Here's a minus one-eighth. Here's a plus one-eighth. Now that process may or may not continue. Let's see if are we ever going to be able to take anything and knock out the one-half that we generated? Kind of stuck with that, right? If we lose the one-sixth, are we ever going to be able to knock out the one-fourth? No. So we're stuck with that. How about the negative one-tenth? No. Are we going to generate a positive one-tenth? Yeah. We are. It's coming up, right? It's the very next term. How about a minus one-twelfth? Are we going to be able to generate a positive one-twelfth? Yep. We are. So are we going to lose all the rest of these terms? Yeah. It's telescoping. Kind of terms that we generate will be knocked out by later pieces of this expansion. So if the decision, if the question is, is this convergent or divergent, what do you think? Can we take all these terms on the right side and can we add them all up all the way out to infinity? Looks like the only terms we're going to be left with, if we let this thing run indefinitely, is the term one-half and the term one-fourth that are added together. So it looks like it converges, and it looks like the sum is, in fact, what? Three-fourths. Three-fourths. How many of you were thinking about this being a convergent series and it adding up to three-fourths? Nobody was thinking that, okay? I wasn't thinking that. So it's very difficult to even decide if it's convergent, and if it is, to what value does it converge? Tell we decompose it, and this is kind of the nature of telescoping series. Some of them kind of are back-to-back. The term that you generate in the negative, the very next term, it knocks it out with the positive term of like magnitude. If it bothers you that we didn't look at enough of these, or if we even kind of stopped it at some point, what's happening to this, to the denominators of the second term? Even if we let it run for a hundred thousand terms and stopped it, aren't they getting so small that they're practically zero anyway? So even if you thought about it stopping somewhere and you say, well, if I generated that term, I'd never generate the one to knock it out, it's not going to matter much anyway, because it's going to be so small. So the value of that last term, if there were, in fact, a last term, is negligible. So even if you stopped it after a hundred thousand, the value's going to be very, very, very close to three fourths. If you let it run indefinitely and add them all up, you would get exactly three fourths. Questions on that? So if you had a problem like this on a test, you would kind of recognize that this is a candidate to be decomposed into partial fractions. Do the decomposition, write it out, say it's telescoping, show that, you know, like terms are knocking each other out, so you might want to actually just write down that it's telescoping, show that these terms are knocking each other out, therefore it's convergent, and then see what terms remain. Before we leave that completely and move on to the next one, because I know what the next one is, it's a little bit tougher to comprehend than this one. Here's what we have to kind of guard against when we look at terms in a series is we have to guard against saying, okay, well this goes from a third to an eighth. That's getting pretty small in a hurry, and then it goes from one eighth to one fifteenth. This thing's getting small rapidly. Is it getting small enough, fast enough, in order for this to converge? That's a very difficult decision to make. But just because the value of the nth term is getting smaller doesn't guarantee that it's going to converge. And here's the classic example. Is the so-called harmonic series. It's about as simple as you can get, as far as the description of the nth term, it's one over n. Can't get much simpler than that. So anything that basically that's constant in the numerator and linear, one linear expression in the denominator is going to be harmonic. So if we write this out, one over one, one over two, one over three, one over four, and so on. Clearly the terms are getting smaller as we go. Back to that other question that I posed two minutes ago. Are they getting small fast enough in order for this to converge? The answer on this one is no they're not. This is a divergent series. Keep this in mind that the limit of the nth term as we work our way out to the right, which in this case is one over n, pretty clearly as we do work our way out to the right, the terms get smaller and smaller and in fact approach zero. That fact alone does not guarantee convergence. Obviously because in this case it's not convergent even though the limit of the nth term way out to the right is zero. So you cannot add all these together and say that they converge to three fourths or two thirds or whatever. Here's why. Here's why, well there's lots of reasons why. I think this is probably the cleanest. If you take the first term, first term is clearly greater than or equal to a half by itself. The second term is greater than or equal to a half. Now we kind of get a pattern going. The next two terms, sorry one third plus one fourth, the sum of those two terms isn't that greater than or equal to a half. A third is greater than a fourth, but if this were one fourth plus one fourth it would be a half. So it's one third plus one fourth so that's greater than a half. The next time through we grab the next four terms, their sum is greater than or equal to a half. Right? Everything, this is larger than an eighth, larger, larger, this is an eighth. So if you add those four together it's larger than four eighths greater than or equal to one half. We won't do this too much more, but so we get the first term, the second term, the next two, the next four, what seems to be the pattern? The next eight. So if you grab those and add those together, their sum is greater than or equal to a half. Now the pattern is pretty clearly established that the next one group we would grab would be the next 16. I'm not going to write that down. Their sum is greater than or equal to a half. So would this process ever come to an end? Never would. So you can continue to get groups of terms that add together to be something greater than or equal to a half. You keep doing that. It has no hope of converging if that can happen. So they are getting small, but they're not getting small fast enough in order for this particular series to converge. So you could continue gathering up groups of terms that each time are a half or more, no way it could converge. Now it doesn't have to be very different from kind of the harmonic series in order for it to converge. This is kind of the last one that diverges and we'll look at some later in this chapter that are slightly, slightly different from this. And by just that slight adaptation, they converge, but this one doesn't. This is divergent. So the harmonic series, and we can use this. You're not going to be asked to prove this. We've already proved it, but we can use our results the fact that this basic harmonic series diverges. We can use that to answer other questions. So if we're handed a series, sum of a sub n from n equals 1 to infinity, and we know for a fact that it converges. Because it was convergent, we know that the limit of the nth term gradually approaches 0. This has a name. Right now, I forget the name. Divergence theorem. Convergence theorem. We're going to use it to come up with a divergence theorem. It's called theorem. Okay? It doesn't have a name. So it's pretty generic. So if we know for a fact that the series converges, we know that the nth term gradually disappears in size. If you remember from high school geometry, you can change the hypothesis and conclusion around. You can negate them. You can negate them and change them around. If this is true, which it is, does that guarantee that it's converse? You've already answered it for me. The answer is no. Just because this is true, the converse is a completely separate idea. In fact, let's write the converse out. Converse means to just completely interchange the if and then statements, right? Interchange the hypothesis and conclusion. So if the limit of a sub n is 0 as n approaches infinity, then that particular series, we know that's false. Because doesn't a harmonic series, the nth term approaches 0, does that mean that the harmonic series converges? No. We just validated, I hope, or at least made it plausible that it, in fact, diverges. So just because the nth term gets smaller and smaller and disappears, so the converse of this original theorem is in fact false. So that's in fact how it gets overused, I think, that we think that just because the terms are getting smaller that it forces them to disappear and therefore the series to converge, not necessarily the case. The original one is true. If we know that it's convergent, I don't know how valuable that is. If you already know it's convergent, you know, why do we want to mess around with looking at what happens at the nth term? So in its original form, this isn't all that useful. But if we take its contrapositive, this is some of the stuff, Katie, you're asking about 225. This is some of the stuff that you look at. Reasoning by contraposition, they call it contrapositive, different kinds of reasoning and proof. Does anybody remember what you do with an original statement to come up with its contrapositive?  So we'll take the conclusion here, make it the hypothesis, but we're going to negate it. So if the limit is not zero, then what was the hypothesis here? We're now going to make it the conclusion, but we're going to negate it. Now, I could say, does not converge, but we have a word for that, divergence. This is how, although the original theorem is in fact true, it's not going to help us in that form, but its contrapositive will in fact help us. If we can determine that the nth term does not disappear, does not go to zero, then we automatically know that that series diverges. So what do the authors call this? The test for divergence. This is probably the quickest test that we have, is if you can determine the nth term, the limit is not zero, you're done. It doesn't have any chance of converging, it diverges. So we might be handed a problem that looks like this. Does it converge or does it diverge? Well, we're going to have a whole bunch of convergence tests by the time we get deeper into chapter 8. This would be probably your first filter, because it's the quickest. Does the limit of the nth term, does it approach, or is it something non-zero? If it's something non-zero, you're done, it diverges. What is this limit? One-third. One-third. Last time I checked, I haven't checked today, one-third is not equal to zero, therefore we're done. This series diverges. It doesn't have a chance of converging. Even if the limit were zero, we're not done, right? Just because the limit is zero doesn't guarantee convergence. But clearly if the limit is not zero, it doesn't have a chance of converging. So it diverges. A couple of properties that will come in handy. Let's say that we know that A sub n and B sub n, the series, converge. What about a constant times one of these guys that we know in fact already converges? Can we take that constant and bring it out in front? Certainly we can. We can do that with sigma notation. We can also do it with integrals, which are pretty clearly related to one another. What we're saying is if this converges, we can add all these terms up, right? Let's say we can add them all up and they are one. It converges, and it converges to one. Is that going to change anything, the fact that we multiply it by a constant? Is it going to change the fact that we can add them all up? It's not going to change that fact. Now it will change the value to which it converges, but it doesn't change the convergence decision. So this one also converges. C times this. So if this one converged to one, this one would converge to C times one, whatever that is. So a constant times an existing convergent series still converges. It just converges to a different number. The summation of a sum is the sum of the summations. So if these two series are individually convergent, is the series that is their sum also convergent? Yes. Because this converges to a certain number. This converges to a certain number. We should expect to be able to add those two numbers together, and this one that represents the sum of them converges to a number that is the sum of these two. So this guy is convergent. This guy is convergent. If a sub n is convergent, so is this. If a sub n and b sub n are convergent, so is there sum or difference or any other kind of combination. Here's an example. Let's suppose that we have, let me use that as a second example, and this will play off an example we've already done today. Could we take the five out in front? We could. Didn't we already do this today? Wasn't that our example for a telescoping series? We decomposed it. We saw that terms were knocking each other out, positive and negative terms. Two of the terms were left, what, a one half and a one fourth. So this thing did converge to three fourths. What do you think about this guy right here? It also converges, and in fact we know the value to which it converges, converges to what? Five times three fourths, which would be 15 fourths. So anytime you can take a coefficient and farm it out in front, that's probably advisable. Although it's not exactly this theorem, it works this way also. The reasoning is kind of the same. We could take that eight out in front. What about one over n? That has a name, harmonic, when we already decide about the harmonic series. That it was divergent, right? So in other words, this framed piece right here, one over n from n equals one to infinity, it's already in trouble. It's not converging. Are we going to save it and make it any better by multiplying it by eight? Aren't we going to make it worse? It's already in trouble. Now we're going to multiply this number that keeps getting larger and larger. We're going to multiply it by eight. This thing also diverges. So if it's multiplied by something that already is divergent, it can't turn it around and make it converge. It's the same thing with something that already converges. If it already converges, and we multiply it by some number five or eight or pi or seventeen fifths, it's still going to converge. It's just going to converge to a different number. Alright, the last thing from eight point two, and I think we'll finish up a little bit early today. The first several terms of a series don't matter. What matters is what happens to that series eventually. So let's say it's three fourths and two thirds, and it doesn't really matter. But beyond some point where we make kind of a mark, what matters about the series is what it does from there. So let's say we've got some terms written out here, and let's say from this point forward, we determine that this part of the series diverges. The fact that we have some other terms out here, is that going to change our decision? Not going to change our decision? It's not going to all of a sudden turn it around and cause it to converge. Or let's say that we've determined that from this point forward, this series converges. We have a couple of additional terms, I don't know, maybe fifty. Fifty terms here. Is that going to change our determination? No, we just add these fifty numbers into the number that we got here for the rest of the series. So if the first several terms of a series, you can't pick up a pattern, but at a certain point you can pick up a pattern, and you determine from that point forward the first several terms of a series will never change your decision. So I think the authors call it a finite number of terms doesn't affect the convergence or divergence of a series. Not going to save a divergence series. It's only going to change the value to which they all add up if in fact it is convergent. Questions or clarifications? On section 8.2. Alright, we're done early. Have a nice weekend.


QuickBooks Desktop 2023, void check prior period adjustment. Let's do it within two weeks. QuickBooks Desktop 2023. Support accounting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course, each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Here we are in QuickBooks Desktop Sample rock castle construction practice file provided by QuickBooks going through the setup process we do every time maximizing the homepage to the gray area view dropdown open windows list on the left hand side reports drop down company and financial looking at that P&L profit loss income statement tab 010124 to 1231 to four dates from January to December 2024, gonna customize that report so that we can go to the fonts and numbers and change that font on up to 12. Okay, yes, please. Okay, and then we'll go to the reports drop down again company and financial this time that balance sheet standard date 1231 to four let's customize that report as well with the font numbers changing that font size bringing it up to 12. Okay, yes, please. Okay, that's the setup process we've been doing every time going back to the homepage. We've been looking at the vendor section noting that the vendor represents people that were paying for goods and services with regards to the QuickBooks terminology. The easiest way for us to do that is typically with a check type of form, which might happen with an electronic transfer possibly being tied to the bank feeds in which case we would wait till it clears the bank for example and it would still be though a check type form decreasing the checking account or we might physically write the check which in that case we want to record the transaction typically when we write the check not when it clears the bank so we can track the outstanding amounts and then when they clear the bank we reconcile. We also talked about the fact that we could enter a bill which would be an accrual type of transaction which would increase the accounts payable rather than decreasing the checking account when entered then we would enter a pay bill which is something similar to a check type form that would be the accept that it's always going to be decreasing the accounts payable account as well as the checking account. So now we want to think about well what if there's a mistake? What if something has been entered and we have to fix the thing that has been entered? The first thing that would come to mind is that we can delete the transaction. We're going to be focusing down here on the checks but just note that the same concept applies to other kinds of forms as well. So in other case, in other words if I go to the enter bills for example I go to a prior bill, I've got the bill I might say well what if that's wrong I could try to go in here and delete the bill but you want to be quite careful when you do that because for example this bill might be tied to the check payment. So if I close this back out if you have a payment of the bill that has happened already and you try to delete the bill well that's going to cause a problem in the system. So if you wanted to remove a bill you first have to think about did I pay the bill? Do I have to remove the check and then basically remove the bill? Also just realize that any time that you are thinking about deleting something that's not usually the optimal way or preferred way that we would like to do something because if there is an error we typically would like to fix it with another transaction so that we can see the audit trail we don't usually like to go back and delete things because then the audit trail goes away we would like to say okay I made an error I want to note the error I want to fix it with another journal entry so that would be the preferred method that you'd like to do but again you could go back and delete things QuickBooks is quite forgiving in that way but deleting things can cause problems so you want to be very careful. Also if something is happening in the prior period like the prior year and you're thinking I want to delete something that happened in the prior year you need to be very careful in that case because things entered in the prior year are going to have an impact on the income statement in the prior year which you may have already used in order to record like your taxes or something like that so you don't want to alter the income statement from the prior year because you're going to have timing differences between the prior year and the current year so let's consider this with regards to a check type of form now a normal easy check form would be one in which let's say we actually physically wrote the check we entered the transaction into the system and the other side went to an expense so it decreases the checking account the other side goes to an expense type of form then when we reconcile we note that that check never clears meaning we entered it twice we entered it in error or something like that it never actually got removed from our checking account that's when we have the kind of problems well what should we do at that point in time should we basically delete the check or so on so notice if I go to the balance sheet and just look at a check if I double click on a check for example and I go from 010124 and if we just pick a standard check down here double clicking on a check we could see the check is being entered we could see that the other side is going to this account basically which looks like an income statement account decrease in the checking account the other side goes to the income statement if I go to the income statement down here I'm going to close this out close this out which is also called the profit and loss then we have income and expenses so these expense accounts are going to be the accounts that are going to be impacted on the other side of the checks like if we paid the phone bill for example then the other side here is on the income statement which decreases the income statement but note that the income statement has a time frame so that's recording performance over a time frame kind of like running a race which we'll talk about more when we get to the talking about the income statement specifically so what we want to have happen is we don't if we already used this net income for example to record our taxes or something like that and then we go into the following year I don't want to delete something from the income statement in the prior year because unless I'm adjusting you know something in the prior unless I'm going to make a prior period adjustment because I finalized the prior period therefore I want to make the cut off with that being my final number not adjusting it so I can basically move forward and be good going forward that causes a problem especially if you're going to avoid checks in the prior period if you're avoiding checks in the current period it's not as big of a problem right because then you're in the same period and you can you can avoid the check and you don't have that kind of prior period adjustment if you close the period which for many companies might be down a month by month kind of basis or quarter by quarter basis certainly on a year by year basis because you have to deal with taxes in the income in the United States and income tax then you got to be quite careful so let's do an example I'm going to go to a register go to the banking up top we're going to go to use register and I'm going to say hold on a sec not records out banking I'm going to use the register and go to the checking account okay and let's just enter a check I'm going to enter it as of the end of the last year so this practice problem is currently working in 2024 so I'm going to put it as of 1231 23 as of the end of the prior period I'm just going to call it a check I'm not going to add a check number and I'm going to I'm going to say this is for a vendor let's just let's just make up a vendor we're going to say this is going to be for ZZZ just so that'll be easy for me to see ZZZ and let's say tab and let's do a quick ad it's going to be a vendor I'm going to say okay and let's make the amount something that'll be fairly easy let's say 555.55 hopefully that'll be easy to recognize I'm going to make up another account which I'm hoping will be easy to see 99999 tab I'm going to set up that account set up the account as an expense account the name is going to be 99999 and so I'm going to say okay expense account looks good we're going to say save it and close it and so when I record this it's going to shuffle it up to 1231.23 in order by date so I'll say okay if I check that out on my balance sheet let's go to my balance sheet as of the end of last year 23 and double click on the checking account we're going to say there it is there's the 555 so on closing that out if I go to my income statement profit and loss and I look at the prior year 010123 to 1231.23 then we're going to have it in this account the 999 there's the 555 and that decreased the net income amount so let's imagine we did our taxes and whatnot and we used this 24987.24 in our taxes and whatnot that's a final number I don't want to go back and fix that number I don't want to change it but I've realized now that this account right here that check was entered in error it was entered twice or it never cleared or something like that and we're never going to end up paying it I have to get rid of it it's wrong in some way well then the first thing we would think about you could double click on it here and double click on it and say well maybe I should delete the check but again you want to be very careful of deleting the check because that's going to mess up the prior year thing right it's so I don't want to just delete it and I have to do something with it because it's going to be showing up in my in my bank reconciliation as unclear so this will become apparent when I go to my banking and I go to reconcile we'll talk about bank reconciliation later but if I reconcile the checking account let's say 70,000 here and continue you're going to see this amount which is never going to clear so at some point we're going to say okay we got to fix that so that's going to be the issue so it's a prior period adjustment so I can't just delete it so I'm going to go all right well what if I go back to my register I usually do this from the register and I go to let's see the my is my register yeah there it is so I'm going to go up and find it it's on 12 of last year December of the prior year so I'm just looking at the dates here to get to the prior year transactions so there it is I'm the five five there it is so I could just void this transaction so one way that you could you could void it I can right click and say I need to void the check so if I void the check that's different than deleting the check it should help me out and show an audit trail so I'm going to void it but notice it's something in a prior period so I'm going to say void it gives me a nice little void sign right here which is nice to finalize the transaction I have to hit tab or enter to get off the transaction so I'll say enter you have changed the transaction do you want to record your changes I'm going to say yes then it gives me this nice little memo it says to maintain the accuracy of your financial reports and balance the the accounts effects by the check QuickBooks can create a journal entry to the earlier period and a reversing journal entry in the current period would you like QuickBooks to void the check and enter the appropriate journal entries for you so notice it's QuickBooks has recognized look this is a transaction that happened in the past if I just void it straight out it's kind of like deleting it but it's a little bit better because it gives me the audit trail and so on so it's better than deleting it generally but again it's going to mess up the prior year's net income we recognize that so do you want us then to enter the transactions to kind of fix it what will that do what will we expect it to do it'll void this check to show it as voided but then it's going to enter it back in the system with a journal entry as of 2023 so that it doesn't throw off the net income and then it'll enter another journal entry as of 2024 the current time period so we can make the reversal in the current time period let's see if that makes sense so I'm going to say yes go ahead and do this now this would only be something that becomes a big problem if it was a prior period adjustment if you're in the same year or the same month you could have a month by month similar issue if you close out a month or a quarter but certainly for small businesses it'll be a year by year problem because you don't want to double record an expense between it'll be a timing difference a timing problem okay so if I go down and I look at it so now this one has been voided so if I double click on it so now it's a voided check which is nice for my audit trail now and if I go down here it's been entered again so it's been entered with a journal entry so I voided it and then it put it back in the system debiting this account again so it doesn't that doesn't throw me off it didn't make any actual change you might say well what did it do it just it just knold itself out avoiding it and then putting it back in but if I go all the way down here to the bottom it put it back in here again as of the current year the current date was 121524 so if I double click on this it put it in there with a journal entry so closing this back out so let's see what that the net result is if I go to my if I go to my balance sheet and double click on the let's do this as of 123124 double click on the check-in account change the first date from 010123 so 23 all the way to 24 let's make it 123123 so that'll be easy to find so here it is so right it was it was going down before but we voided the check so the check got voided but then they put it back in with a journal entry and and then they took it back out again with the journal entry at the end of the time frame that's not as important to do that double kind of thing on the balance sheet because the balance sheet is as of a point in time they're doing this on the balance sheet in order really to fix the income statement so if I go to the income statement or profit and loss let's see what happened here so we're as of the prior year here so if I go back into this account double clicking on it notice they voided it but then they put it back in place so nothing really they didn't really change anything at the end of the day if I close this back out I still I think that's this that should be the same number 2498724 should remain the same and that's good because I finalized prior year I don't want to adjust it I don't want to make any problems or mess it up if I go into the current year 01012324 to 123124 and go down to that account you can see I have a negative number here so it reversed it in the current period with a journal entry so that's going to be important to kind of understand because you got to realize that if something is especially if something's hitting the income statement in a prior period you got to be very careful with deleting things you have the capacity to delete things but if especially if you're deleting things in the prior period you could end up double recording things in the current period it'll mess things up because this prior if I go back from 010123 to 123123 this 24987 is connected to like the balance sheet we'll talk more about this when we get to the financial statements as of 123123 so so you have it down here right here the net in 2498724 is the profit 2498724 that's the same on the balance sheet so they're kind of connected because the double entry accounting system kind of ties together so if you mess up the prior period you're going to kind of mess things up moving forward if you're a small business and you do a schedule C business you might not really recognize that because you're only looking at the income statement when you do your taxes for example but again you still might be double recording things and if you're working with larger businesses that have you know that are rolling over the net income from year to year your retained earnings is going to get messed up so we'll talk more about that in the future but just you got to be careful when you're deleting things just be careful when you're deleting things and when you're voiding the check that's one way that you could see the void of check also just realize when you do the bank reconciliation you might say well what's going to happen with the bank reconciliation now with that 555 that was outstanding that we now deleted and put back into the system so let's go back to there where's the bank bank I'm going to say reconcile and continue so now we've got we've got it all nets out so to look at it it checked it off for us automatically but everything nets out right because the check now is voided so that so that it's going to go away and then we have the two journal entries that cancel each other out we have a check and a journal entry so it kind of makes the reconciliation a bit more confusing when you do this because you got to realize that these are being checked off and they're not going to affect your bank reconciliation because they all net each other off so you have to be careful when you reconcile as well but that's how you that's how you can kind of clear those those amounts that you'll probably be detecting when you do the bank reconciliation as the items that have not cleared for a long period of time at some point you're going to say that usually is the detection to say okay something's wrong here and check check that out that's the general process


Good evening and welcome to CalTV Election Desk. I'm your host Laili Ipsa. Now this show is going to be an all-encompassing roundup of all things politics leading up to the 2020 election. From propositions we'll be voting on to the candidates themselves. We'll be tracking local elections, congressional races, and of course the path to the White House. So join me as we talk to political experts, politicians, and get your reaction from around the country. Let's dive right in. Today of course we are talking about that breaking news that dropped down yesterday. Former Vice President Joe Biden has selected California Senator Kamala Harris as his running mate. Now to help me break down that decision let's please welcome the President of Cal Berkeley Democrats Elizabeth Grubb. Elizabeth thank you so much for being here today. All right let's get right into it point blank. Do you think that Biden made a good decision by selecting Senator Harris? I think he made a great decision. I also think that she brings a lot of energy to his campaign and I just can't underscore the significant historical significance of his choice and I know his choice is important to so many women and especially women of color and for those reasons I think he made a really good choice. All right now talk me through this duo what do you think are some of Biden and Harris's greatest strengths and what do you think are some gaps that they still really need to work out in order to pull more voters in? One strength that I will give them both is I think that they're willing to listen to progressives and they're willing to move towards the left which is really important. I think in terms of weaknesses though I think both of their you know when you have a long political career there are just a lot of things that you know can come up that can hurt you later so I think their records with criminal justice are definitely a pretty big weakness especially in this current landscape so you know hopefully that I you know my hope would be is that they you know get on top of that explain you know why they made the decisions they did and more importantly how they will be better. All right now let's turn to Cal Berkeley Democrats. Campus is closed you know we're starting off the semester virtual right now so how are you hoping to reach students during your campaigning? So we want to make sure that people are prepared to vote by mail so starting in like mid-september we're going to start doing outreach to students and our friends I'm just making sure people are prepared. We definitely want to focus on you know local ballot measures, California ballot measures you know defending some house races like with Josh Harder and T.J. Cox so we have all kinds of things we want to do and I think that you know 2016 was definitely disappointing with youth turnout but 2018 youth turnout gives me a lot of hope. Elizabeth thank you so much for your time I really appreciate you joining us. All right so what has the reaction been like from Washington? Well former president Barack Obama tweeted out his support early yesterday saying in part I've known Senator Kamala Harris for a long time she's more than prepared for this job. Now Joe Biden and Kamala Harris didn't make the announcement together like what usually happens due to the pandemic but they did share this video of them talking to each other once the announcement was made. That's all right you're ready go to work. Biden and Harris made their first public appearance today in Delaware where they talked to supporters about how they plan to win the election. Now within minutes of the announcement President Trump tweeted out a new attack ad calling Harris a phony and saying that she had embraced the left's radical manifesto. Now a lot of other criticism that Senator Harris has been receiving does have to do with her track record so let's take a deeper look into her career. Now Harris served as district attorney of San Francisco from 2004 to 2011. During her time she received criticism for refusing to call for the death penalty and increased prosecution of drug related crimes. Moving forward she was elected attorney general in 2011 and then elected as California senator in 2017 which is of course the position that she holds right now. During the latter part of her career Harris has been praised for clearing a backlog of rape kits and winning a multi-billion dollar settlement for state homeowners hit by the foreclosure crisis. Well of course we'll have much more reaction from both sides as the race continues but for now what's next? Well the Democratic National Convention will kickstart this upcoming Monday and the Republican National Convention is going to start a week later. As for Senator Harris she's going to start gearing up because her and Vice President Mike Pence are going to kick start a round of debates starting in early October and of course you can count on us to provide an in-depth analysis and a breakdown of all those debates. Now be sure you're following us on all of our platforms linked in the description below because you can always count on a new election desk episode every Wednesday but our team is always active on social media providing you real-time updates of the latest breaking news about everything related to news, sports and entertainment and sometimes we even offer a little behind-the-scenes look into what our lives are like as journalists. Well for tonight that's going to do it for me so thank you so much for joining and I'll see you next week.


Welcome back fellow techies to our latest tutorial video. I am The Technician Project. Today's tutorial we're going to show you how to do a general mix in Logic Pro X. It follows on from our previous video on how to do a vocal mix in Logic Pro X. So where we left off we done our vocals and now we're ready to do our complete general mix. We have our arranged window open and our mixed window open. And we're just going to work our way through the mix. Let's play the track first. Whilst we're playing the track we can hear that there's some loudness going on, some peaking. So we're just going to edit the faders across the tracks and try and work out where that peak is going from. And bring in certain instruments. So all I'm doing is editing the kick drum. Trying to increase the kick because I feel I can't hear it enough in the mix. I also feel that the vocals were a little bit loud so we're going to try and turn those down. And increase the distortion a little bit. Too much. As you can see the overall mix is peaking quite a bit so we're going to try and adjust all the faders. Never turn the faders up, always try and turn the faders down. So we're going to adjust all the faders accordingly. I'm still struggling to hear the kick drum if I'm honest. So I'm going to just turn the effects off the drum mix in a bit. Just going to go through the mix and turn the toms down. Any instruments I see that are peaking. So at this point I've gone back to bar 82 just to listen back to this section. I'm unsure if I can hear the snare drum coming through. So I'm going to do a quick automation on the snare drum and just turn it up a little bit in a certain section. Because to me that should be a loud a bit. So we're just going to do a quick automation. Draw some nodes in and automate down to bring the level back down. And because we've got to unread the automation we'll get red. So we're going to do the same on the bottom ones. We've got snare top and snare bottom. We've just done this on. There we go. So that should improve the snare drum. That's better. You can really hear the snare drum now in that part. Some odd drum sounds at the end there where the recording continues. So what we're going to do is we're just going to highlight them all and we're going to remove them all. Make sure we click on our arrange window, that's it. And then select all which is command A. And we're just going to go to our scissor tool. Which is this one here and then command and click. And that will finish the track up nicely. There we go. Nice finish. Nice end there. So all I'm doing during the mix is finalizing a few details with panning, finalizing a few details with the fade. It's just making sure nothing's peaking really. All you can do during a mix now is just listen back several times through speakers, headphones, loud or quieter. A lot of reference points. So again we're just listening back. We're probably listening back to your mix probably ten times. Just to get the best outcome. I would export it, put it on CD, stick it in my car. I would give it to a friend to listen to. Get more opinions.


President Trump's economy is roaring and much of that success is thanks to his reversals of Obama era regulations so why aren't more Republicans pushing that money message on the campaign trail and why our new numbers showing that Wall Street is backing Democrats ahead of the midterms here to help us make sense of it is Melissa Armos she's the owner of the Stock Swoosh LLC thank you so much for joining us great to have you with us so let's take a look let's begin with those Wall Street donation numbers and it compares what 56.8 million in donations to Democrats with 33.4 million to Republicans that's according to the Center for Responsive Politics but you say even though these numbers are showing this it's fake news fake fake fake fake fake I when I saw the headlines it was on Halloween the Democrats are giving more money to the Republicans for the first time in 10 years I said fake news right there because it's when people read the article they just look at the headline and say oh all of a sudden now Wall Street it's good for the market they want the Democrats to win the house to win Congress that's not true at all one of the reasons why they're giving money is because they think that the Democrats are gonna win and they want people as allies for example Maxine Waters is maybe if the Democrats win would be the head of a finance committee and they're going through all these regulations now so the banks all these investment companies they're worried so let's take a look at some of those Obama regulations just a few that the president has rolled back we have a slashing energy regulations we have tax cuts record low unemployment and then the Dow Jones industrial average which is up 33% so in terms of those specific policies that have been rolled back take us through those that's what I'm saying that's why it's fake news because people on Wall Street know that Trump as soon as Trump was elected the market has run up every day since so for as far as the stock market goes as far as Wall Street people go Trump has been great for the market Trump's taking credit for it and rightfully so anyone that's had a 401k you've been invested in the Dow or the S&P you've seen between a 30 40% return you expect that to continue if that's what I'm saying Trump is still president no matter what happens with Congress however there could be gridlock and they could try to roll back some of these the D regulations that Trump has done and the tax cuts is another big concern because what would happen going into 2019 Trump is trying to do this second round of tax cuts what if we can't get that through I think the market likes Trump I think it's a fact the market has rallied it would be interesting what the market does after midterms if if the Congress stays Republican I think you're gonna see a big lift if it doesn't you might see some more volatility and selling in a shakeout I still think we're gonna hold the uptrend because ultimately Trump is still president for the next two years however I think there could be some gridlock and some volatility that could happen that could hurt the market and that's not good for anyone even people that are Democratic had seen a growth in their 401ks how can anyone say that's negative and that's why I don't like to see that and I say it's fake news because it it's an assumption that if people don't read all the story and know all the facts to think right well people on Wall Street one being the case why don't we hear more Republicans out on the campaign trail being crystal clear as you are right now because they're not market people one they could be afraid to come out and say that or two they may not have all the information just rolling back regulations in general why aren't we hearing more about that and the success of that I know I don't know I don't understand why are they afraid to come out and say these things because of all the negativity that's you know people have been saying these things negatively about Trump I don't know why if you look at the facts of how things have changed you can't argue with what the market's been doing that's right it's not just the market you've had record numbers with unemployment and also we have a new number out today we'll see what it is it's coming out at 830 you've had growth GDP number has increased and wages increase how can you possibly see any of these things are negative and how can you possibly say that wall streets you know that want the Democrats to win because ultimately they're looking to make money yeah and so that's why their concern is that the Democrats are going to win and then they're not going to have any allies there and that's why they're starting to get money now this last month and right before the election we will see bring up some great points thank you so much for joining us love it all the time now it's about six minutes until the top of the hour from bad to worse disgrace to actress Heather Locklear facing some legal troubles again who just slapped a lawsuit against the celebrities


Hi, this is Dr. Don. I've had some questions about how to construct a 100% stacked area chart. So I'll show you very quickly how to do that with Excel. The 100% stacked area I know was in Excel 2016 and Excel 2013. I'm not sure of other older versions, but most of them have it. In our data here, we've got five regions of this company and the world column is the total of these five regions. Now what I want to show in this chart is what percent of the world sells each of these regions contribute as we go through the year. So that's what 100% stacked area chart shows us. I'm gonna click there in month and just drag down to select the five regions and all of the years. I've got some rows hidden there in case you're wondering why.  And these are the types of area charts. Remember, stay away from 3D. They just add complexity and don't help comprehension. That's the regular area chart. This is a stacked chart, which is not what we want. This third one is the 100% stacked chart. I select that and click OK. And we get our chart that you can then go ahead and format putting in a title, axis titles on the X and Y, think about the legend. What it's showing us here, for example, here in January, blue is USA and it makes up about 80% of the company's total sales. And you can see it changes a bit, but the USA is responsible of about 80% of the sales throughout this whole period. The gray is the Europe and you can see it's a pretty big honk. The orange is the Asia and it's growing but it's got a long way to go. This little orange one there is the America, South America's and they're not contributing a whole lot and they're not changing a whole lot. Anyway, that's the 100% stacked area chart. You don't have to do any calculations on percentages. Excel will do it for you. I hope this helps.


Hey guys, so I wanted today to share with you one of my entrepreneur strategies Recently I Had my CPA and my attorney Advise me on creating what's called a solo 401k retirement plan And in that solo 401k retirement plan it allows me the opportunity to take my Existing IRA roll it over into a solo 401k Where then I become the custodian and The trustee so basically I'm able to manage My retirement by using a self-directed 401k solo 401k And in this video, I'll show you we just went to settlement on a piece of real estate And we bought this house about five weeks ago Site unseen We bought it in the name of my solo 401k We then marketed the property. We did no work. We didn't lift a hammer. We've marketed the property for resale and and Had an offer within about a week had multiple inquiries Posted it online as a for sale by owner great opportunity for fix and flip or maybe a great opportunity for buying hold a Couple strategies that we use in real estate Depending on who we're marketing and what type of property that we're marketing So this house was vacant It was owned by a group of investors from what I understood that Sat on the property. I think probably rented the property but basically It took us about five weeks to purchase it no fault of our own The owner had some leans and I think a judgment against the property. He was able to Get the original lender that he had a loan with on this property to agree to a short sale so basically the bank agreed that He owed, you know in a sense more than the property was worth and they were able to come to an agreement and Allowing us myself and my retirement plan to then buy this property But I wanted to share with you the strategy that we're using here is To acquire it Remarket it and either sell it Quickly like a flip where we don't do any work to it sell it as is to maybe another investor or somebody who's looking to get into an inexpensive real estate deal but I Think the the strategy the the entrepreneur spirit and strategy that we're gonna show you here is that You can manage retirement. So as I said, we just went to settlement We bought this property It was just over 16,000 and I'll put the numbers on the on the screen here So you can see the math of it and we marketed this property for sale for 24,000 And it's gonna cost us, you know, thousand bucks or so in Title fees to sell it. We got a all-cash offer for 22,000 And we accepted it So I'll go through with you How we acquired it, I'll show you the existing condition put some pictures up here and show you how we the condition that we acquired this property and We did no work once again. I'll say we didn't touch it. I've actually this is my first time going to the property So I just all right so we all from this investment property that we just went to settlement and sold and the buyer mentioned that They're quite possibly even over here this afternoon Getting out some of the trash That you might have seen in those photos I was like, I don't know mattress and couch Bunch of torn up. I think kitchen cabinets. So we are actually on West Edmundston Heading we are in the west side of the city of Baltimore coming over Think about six blocks up Is where this property was but you know, as I said the key to this Video is to explain to you guys a different entrepreneur strategy of What you're able to do within your retirement. So buying this property and then selling this property The gain that I will see on this investment and the sale of this property Will go back in it'll be distributed back into my solo 401k Tax deferred so that means I'm not paying tax on the game but you do have to understand how to do it, there's certain stipulations of What type of investments you can do? Real estate fortunately is one of them But I could not have done this in my solo 401k if I were gonna be the one doing the work Meaning if I were gonna buy the property Go in and fix the property myself. I can't be the worker B I could hire a contractor to do it to fix it up and then potentially sell it Then the gain of that sale would be distributed back to my 401k but for purposes of this video this strategy today was to Buy a piece of property at a discounted price that property needed a ton of work We didn't want to do the work. So the easiest thing to do was just to remarket the property put it out on the worldwide web throw it out on the internet and Find a buyer that maybe wants to do all the work, you know not everybody wants to be a flipper and you know quite honestly, I can't say I blame them because It would have taken a ton of work for this property and unfortunately in this area Retail value is just not there So we're to the left here coming around. This is Harlem Avenue And our property is just two blocks over So Harlem there's different areas of Harlem Avenue. This part of Harlem is desolate There's like there's nobody over here half of them are boarded up and Yeah So we're just around this corner here on the left This is North Dukeland, and I don't see anyone here But that doesn't mean how to pull over And show you guys the house. So this is our Property we're here to the left This corner house with the board on the front and as you see, there's one two Occupied there's one that's burnt out and then Down the street there One more boarded up You know, I'm gonna say half of this block is occupied possibly Lot of drug activity in this area, but You know, it's not it is not a bad piece of real estate. It's just not in the most desirable neighborhood But you know, it's one of the strategies that we're using. I don't see anyone here. So I don't I Don't think they came past to Start getting stuff So, I mean as you saw it's not it's not bad It's not great, but it was a Piece of real estate that we were able to get fairly inexpensive As I said, I'll put the numbers up here It was just over just over 16,000 on the purchase. We sold it for 22 minus settlement fees. I think it's about 3600 on the gain and I'll be taking that check cashier's check and putting that sucker right back into my solar 401k and Then venturing off and looking at, you know, the next potential so Once again Thanks for riding along with me Sharing entrepreneur strategies as best as I know once again, these are strategies that I'm using You know, I don't teach How you should do it. You need to figure out what's the best way for you? And I feel for me is just sharing how I'm able to do it and the strategies that I use So don't forget smash that like button down below subscribe to my channel and Like the content. I'd love to hear from you comment below as well If you have strategy questions or maybe even want to schedule a consultation I'd love to sit down and kind of go over what you're looking at to do and what maybe I can do to help So Chris Birch entrepreneur strategies talk to you guys soon