Welcome back everyone. This week we have the return of literal codenames. That's right, literal codenames. It's crazy legs. You get it? Hello everybody, hooded Cobra Commander 788 here. This is the show we re-review every vintage GI Joe toy from 1982 to 1994. After a short break we are roaring back with a review of two action figures. We are looking at a GI Joe paratrooper crazy legs and since there are only two vintage versions of crazy legs, we might as well look at both of them. Crazy legs. Sounds like he works for the Ministry of Silly Walks. Restless Leg Syndrome is an uncomfortable and a very common disease striking 3 million Americans every year. Crazy legs is not ashamed of it. He took his codename from it and he even encouraged other shows to take codenames based on their ailments. That's why we have Joe's named Irritable Battle Syndrome and Shingles. Crazy legs was a popular character that had a short run in the GI Joe line. That's because, well, he's dead. Why was he so popular and how did he die? Let's talk about all of it. HCC 788 presents version 1 and 2 of Crazy Legs. This is Crazy Legs. GI Joe's assault trooper from 1987 and as you can see there are two versions of Crazy Legs here. We are going to look at both of them. Version 1 was introduced in 1987 and was also available in 1988. It was discontinued for 1989. The second version of Crazy Legs was released in 1988 as part of the night force sub team. There were no later versions of Crazy Legs in the vintage era. There's a good reason there were no later versions of Crazy Legs in the GI Joe comic book series. He died. Crazy Legs is built as an assault trooper, but he is equipped as a paratrooper. This puts him in the lineage of GI Joe paratroopers. In 1983, Airborne was not equipped as a paratrooper and was built as a helicopter assault trooper, but his training and background is as a paratrooper. Also in 1983, a working parachute was introduced as part of the Sky Striker fighter jet. The pilot, Ace, was not a paratrooper, but he could use the parachute to bail out of his aircraft. In 1984, GI Joe had a dedicated paratrooper, the Halo Jumper Ripcord. Ripcord included a parachute accessory, but it was not a working parachute. In 1985, there was a working parachute released as a male-away offer, the Parachute Pack. Ripcord was still available in 1985, so if you wanted to, you could put the Parachute Pack on Ripcord. There were numerous Joes who were Airborne qualified, but the next dedicated paratrooper was Crazy Legs in 1987. Like Ripcord, Crazy Legs came with a parachute accessory, but it was not a working parachute. The next GI Joe paratrooper was Crazy Legs again in 1988. This time Crazy Legs was in the new subgroup Night Force. We will talk more about Night Force in a minute. Also in 1988, Hit and Run was released. He was not a paratrooper, but there was a target store exclusive Hit and Run that included the Parachute Pack as a bonus accessory. 1990 was a big year for paratroopers. Free Fall was released. He did not include a working parachute, nor did he come with a parachute accessory. He just had a backpack. The card actually calls it a backpack. Huh, a paratrooper with no parachute. I guess he could jump once. He wouldn't do much good when he's on the ground, though. Also in 1990, there was a whole team of paratroopers, the Sky Patrol subset. They were all new characters made up of mostly reused parts, and they all came with working parachutes, bright, shiny, silver parachutes. There were no more dedicated paratroopers in GI Joe, but nearly every Joe is qualified to parachute into combat. Version 2 of Crazy Legs was in Night Force. The subteam Night Force was started in 1988 and continued in 1989. It consisted entirely of reissued action figures recolored for night missions. The recolors were mostly really good. Some of the original figures had some rather outrageous and non-combat colors, so repainting them for night missions was an improvement. Crazy Legs was one of those improvements. Version 1 of Crazy Legs was red, literally the color of a target. The Night Force version was black and green and ready for business. All Night Force figures were sold in two packs. Crazy Legs was packaged with Night Force Outback. Crazy Legs is a funny name. The only other popular reference I can find for it is the Crazy Legs Classic, a race held in Madison, Wisconsin, since 1982. I doubt that's where GI Joe's Crazy Legs got his name. A version of Crazy Legs was released in India by Fun School. Well it was sort of Crazy Legs. The figure was called Skydiver and had Crazy Legs head. The figure included a working parachute. Let's take a look at Crazy Legs accessories and let's start with version one and let's start with his rifle. The card contents called this an EM4 assault rifle. This rifle is in black plastic.  It also has a folding stock so the stock can be folded up to the side like that and that folding stock is removable so that is a frequently missing part. The card art shows the rifle tucked in the parachute straps and that does work. That's not a bad way to store it. Because of the name I thought this might be modeled after the M4 carbine but this looks more like an M1A1 carbine which was a rifle with a folding stock and it was used by paratroopers. The next accessory is the parachute. It is in tan plastic. It's a soft plastic. It has long straps and those straps attached to these knobs on the side of the parachute pack. I'll have to unravel those straps to take it off the figure. This parachute accessory as I said is in tan soft plastic. It has these long straps. It has some good detail on the parachute pack itself. It has these knobs on the side for attaching the straps. It is hollow on the backside. This is not a working parachute. The card I want you to figure is packaged has instructions on how to put the parachute on and you pretty much do have to do it this way. If you wrap it around any other way the straps are kind of loose but if you do it the right way it kind of forces the figure's legs apart and hinders the articulation. That's it for accessories. Not very many accessories so let's look at version two. With version two we have mostly the same accessories. We have the same rifle with the same folding stock. This is the same rifle in black plastic. If there's any difference between version one and version two the version one rifle seems to be in more of a glossy black plastic and the version two rifle seems to be more of a matte finish. Next we have the version two backpack. It is the same as version one but it is in black plastic. It is in a soft plastic like the version one backpack and it attaches in the same way and you can remove it and it has the same detail. It is essentially the same backpack but in black instead of tan. Let's take a look at Crazy Legs articulation. Both version one and version two had the same articulation and it was the standard articulation for a GI Joe figure by 1987 so he could turn his head from left to right and look up and down. He could swing his arm up at the shoulder and swivel at the shoulder all the way around. He had a hinge at the elbow that allowed him to bend his arm at the elbow about 90 degrees. He had a swivel at the bicep that allowed him to swivel his arm all the way around. This was an o-ring figure meaning the figure was held together with a rubber o-ring that looped around the inside. That allowed him to move with the torso a bit. He could move his legs apart about so far. He had bent his leg at the hip about 90 degrees and bent at the knee about 90 degrees. Let's take a look at the sculpted design and color of Crazy Legs starting with the head and on the head he has a red non-removable helmet.   This head is very similar to Fast Draw, another figure that came out in 1987. On his chest he has a red vest with a diamond texture pattern. He has unpainted red shoulder pads. He has a black collar that goes all the way around his neck. He has a black strip that goes down the center of the chest. He has two small black grenades on the right side of the chest and on the left side he has a black knife. On his arms he has gray sleeves. He has red shoulder coverings lined with black that may be an extension of the vest on the chest but the red paint does not go all the way over the shoulder and that looks a little odd. He has red elbow pads with that same diamond texture pattern on them. He has unpainted pouches on the outside of the forearms and he has unpainted straps that go around the forearms. Good sculpting on that and he has tan gloves. On his waist he has red padding over gray trousers, the same gray color as on the arms. Those red sections have that diamond texture pattern. He has a black belt with pouches on each side. Actually this object on the left side of the belt looks like it might be a magazine for his rifle and if that's what it is that's an excellent detail. On his legs he has light gray trousers, the same gray color as on the arms. He has red padding on the inside legs and that red padding has that diamond texture pattern again. On the outside of the right leg he has an unpainted pocket. On the left leg he has a diagonal row of smaller unpainted pockets. Then he has this detail which is either some rings or a buckle. There is excellent sculpting on the folds of the cloth on this figure.  Turning our attention to version two, the sculpt is exactly the same as version one but the colors are dramatically different. Instead of red and gray the figure is predominantly black and green with a touch of red just for fun. This is not a one for one color swap. Some paint applications are lost in translation but some additional paint applications were added.  Here this is pretty much just a color swap. Instead of red we have green. His chest is black instead of red and he has green shoulder pads the same color of green as the helmet and that is a new paint application. On version one those shoulder pads were unpainted. He has green grenades and a green knife. His arms are black not a separate color from the chest like on version one and those shoulder coverings are unpainted so we lose a paint application there. But the pouches on the outside forearms are red. Those were unpainted on version one so that's a new paint application and he has green gloves. The waist piece is black and so is the belt. Rather than the pouches and the buckle being the same color as the belt here the pouches and the buckle are green. The legs are black. There is no paint application on the padding on the inside legs so that's a loss of a paint application from version one but the pocket on the right outside leg is now green that was unpainted on version one and finally he has green boots with those same crisscross straps on them. Overall this color scheme works better for any mission. Black works for night ops and the green would be better than red during the day. Let's take a look at crazy legs file card. We have two file cards and although they are similar there are also some significant differences. Let's start with version one. His faction is GI Joe. There's a portrait of Crazy Legs here. His codename is Crazy Legs All One Word and he is the assault trooper. He's quite obviously a paratrooper but he's just billed as the assault trooper. His file name is David O. Thomas so he's the guy from those Wendy's commercials. Actually he takes his name from David Thomas Roberts an American musician and composer and that makes some sense when you read the first paragraph. His primary military specialty is infantry. His secondary military specialty is parachute rigger. His birthplace is Fort Dodge Iowa and his grade is E4. This paragraph says Crazy Legs could have been the greatest organist in the world if his fingers hadn't been too short. The airborne rangers don't care how perfectly you can play box, Takata, and fugue in D minor. They're only concerned with your willingness to jump out of a helicopter into a hot LZ asterisk landing zone with nothing but a rifle, a couple of grenades, and the best wishes of your commanding officer. A couple quick things. Even if you're not a classical music aficionado, you're probably familiar with this piece by Bach. This is what it sounds like. Second it mentions him jumping out of a helicopter just like the 1983 helicopter Assault Trooper Airborne. In fact, the only mention of a parachute anywhere on this file card is his secondary military specialty. Crazy Legs is, of course, airborne ranger qualified and has been cross-trained as a forward artillery observer. This bottom paragraph has a quote. It says, we can be storming a hardened position right under the teeth of an infallate. Green tracers so thick in the air you can smell the magnesium. AP, asterisk, anti-personnel, mines going off with intersecting cones of fire, bouncing beddies, the works. There's a lot of military jargon here. A bouncing beddy is also called an S mine. When tripped, they launch into the air and explode above the ground. They are very effective anti-personnel mines. Crazy Legs comes ducking and weaving through all of this with a weird light in his eyes and humming a selection from Johann Sebastian Bach. So, he is airborne qualified. He is a parachute rigger. He is equipped as a paratrooper, but they don't mention anything about him jumping out of airplanes. Also, why does he wear red? Is it to distract the enemy?  The version 2 file card is mostly the same as version 1, but there are a couple changes. Of course, there is this kind of yellowy-orange background on version 2. That was typical of Night Force file cards. The Night Force logo has been added to his faction. Updated colors on that card art. He is still the assault trooper. This top section is pretty much the same as version 1. Even the serial number is the same, which is surprising. They usually change that. The top paragraph is essentially the same as version 1, so I won't go over that again. This bottom paragraph is totally rewritten. This paragraph says, Night Force operates stealthily in environments where the team is usually outnumbered and outgunned. Darkness is their best defense only until the first shot has been fired. Once the team's presence and position has been compromised, it's up to Crazy Legs to provide enough firepower and confusion to cover a tactical withdrawal. He loads 100% tracer ammo instead of the usual 1-5 ratio. That makes the other guy think there are twice as many out there coming at him. Tracer ammo refers to rounds with a small pyrotechnic charge that causes them to light up when fired. Using all tracer rounds wouldn't necessarily make the enemy think there are twice as many shooters. I think it would help them find where the source of the fire is. Looking at how Crazy Legs was used in G.I. Joe Media, he had no appearances in the animated series. He was released in the gap between the cancellation of the Sunbow cartoon and the debut of the Deek cartoon. Crazy Legs had a few appearances in the G.I. Joe comic book series published by Marvel Comics, but not very many. He first appeared in issue number 69. He was occupying a C-130 with Wild Bill and Maverick when it was hijacked by Zirana and a couple Dreadknocks. The story continued in issue number 70 when the C-130 crashed in the jungle. The Joes, the Dreadknocks, and some refugees had to try to escape the country on foot. The story really picked up in issue number 71 as the unlikely team attempted to get out of Sierra Gordo by any means necessary. Crazy Legs is on the cover of that issue. They hijacked a bus with the help of the Dreadknocks. They eventually escaped by plane and Crazy Legs saved Thrasher from falling overboard. Crazy Legs final appearance was in issue number 108 and it was a tragic one. In the fictional Middle Eastern country of Trucial Abysmia, Crazy Legs was a group of Joes captured by Cobra. Some of the Joes were killed by the Saw Viper. Crazy Legs survived that slaughter and the remaining Joes tried to make it through the desert on a captured Cobra rage. The rage was attacked and destroyed and Crazy Legs did not survive. Looking at Crazy Legs overall, I like this figure. The second one. Actually, the first Crazy Legs figure has a lot going for it. A lot of effort went into the design and the sculpt. The uniform has a deep texture pattern and even the folds of the cloth on the arms and legs are very well done. The only issue is the color. This guy is a paratrooper who drops into enemy territory wearing a uniform that makes him a huge target. That's where the Night Force version comes in. The black and green color scheme erases all the shortcomings of the first version. There's a reason why Night Force figures are sought after by collectors. There's no joking around with these guys. They are armed and equipped for battle. That figure looks more like a plausible paratrooper. The accessories leave a bit to be desired. The non-working parachute is expected on a single-carded figure but the straps are cumbersome. If you attach them the way they're designed, they hinder the leg movement. If you attach them any other way, they're too loose. The black parachute for the Night Force version should have been a different color.  Some more color interest could have been added without detracting from the overall look of the figure by making that parachute a different color. Maybe a dark gray. The rifle is not bad. I like the folding stock. It adds a bit more play value to what could have been a very ordinary accessory. The problem is the stock comes off too easily and is often missing. What do we know about the character of Crazy Legs? Not much. From the file card we know he was a musician with short fingers. He had a few appearances in the comic book series then met his demise. This is one figure that deserved a better run. What would he have looked like as a 90s figure? How would he have been characterized in the 90s animated series? We will never know. But I would like to know. That was my review of Crazy Legs. I hope you enjoyed it. If you did please give this video a thumbs up on YouTube, subscribe to the YouTube channel for more G.I. Joe Toy Reviews, and share this video with your friends. That's what helps this channel grow. You can find me on the social medias, on the Facebooks, and the Twitters. I also have a website hcc788.com. I could not continue to do these videos without the support of my friends on Patreon. If you'd like to support the channel, that's a great way to do it. You can get some early access, you can vote in the polls, and you can get your name in videos like the names you see scrolling on the screen right now. Thank you very much for watching. I'll keep coming at you with more G.I. Joe Toy Reviews. Until next time, remember only G.I. Joe is G.I. Joe.


QuickBooks Online 2022. Advanced customer payment or unearned revenue method number one. Get ready because it's go time with QuickBooks Online 2022. Here we are in our get great guitars practice file we set up with a 30 day free trial holding down control scrolling up just a bit to get to the 125 percent currently in the home page otherwise no one has to get things done page in the business view as compared to the accounting view if you wanted to change to the accounting view it's something you can do by going to the cog up top and then switching to the accounting view down below we will be toggling back and forth between the two views either by toggling here or jumping over to the sample company file currently in the accounting view going back over we're going to open a few tabs to put reports in right click it on the tab up top to do so and duplicating it back to the tab to the left right clicking again duplicating again back to the tab to the left right clicking again and duplicating another time as that is thinking let's jump back over to the sample company file which is in the accounting view to see where the reports are located on the left hand side where it says reports that's where you'll find them they're not hiding they're right under the reports tab and then if we jump back on over a little bit further down but not too deep if we go into the second tab we're in the business overview so we're going to select that item we're in the reports on the left hand side closing up the hamburger we're going to go down to the balance sheet first to the balancing of the sheets and do the range change up top from 010122 to 123122 and run it tab to the right and we're going to go down to the business overview again reports section we got to go down to the profit and loss closing up the hamburger this one's going to be the year to date profit and loss P&L income statement with the range change<PHONE_NUMBER>22 run it tab to the right tab to the right and then we're going to go down to the business overview and close up the hamburger and then we're going to go down and do the profit and loss again instead of the trial balance so we can run the profit and loss for the current month of February to see the year to date and the current month so we're going to start this one at 020122 to 123122 and run that one let's go back then to the first tab i'm going to hold control scroll up just a bit we're going to imagine a scenario now where we're going to get a prepayment for a guitar in other words someone comes in and says i would like this particular guitar and we say hey maybe we don't have that guitar on on hand at this point in time we'll order it for you we'll get it for you but we would like to get a down payment at this point in time to make sure that you're committed to the process so that it is worth our time to go through the process of whatever we've got to do to complete the purchasing or getting of the guitar that we can turn around and sell to you that means that we're going to get money in advance so if i go to the first tab here in other words if i get my money in advance from this customer and i select my trusty drop down i'm going to say well what box should i check because usually when i make a sale i have an invoice or i have a sales receipt but at this point i didn't really make the sale because we haven't actually given the guitar we kind of received a payment but the received payment form is usually what you use after you have the invoice and then received the payment so we've got a prepayment situation in financial accounting that's typically referred to as unearned revenue type of situation in other words you've got money but you didn't earn the money you got money in advance of doing the work now this is a little bit tricky with quick book so i'm going to go over the theory of it a bit because it there's a couple different ways that you can handle this and it's a little bit different or you might see it handled a little bit different than you would see in basically an accounting course for financial accounting theory so i'm going to go to my flow chart this is the desktop flow chart but it's just a flow chart it's got the same form names and so that's what we will be using normally when you do work typically what happens is you will basically do the work before you bill the client in which case you'll have an invoice which will increase the accounts receivable and you'll receive a payment later or you do the work at the same time for example any cash register situation like a restaurant where you do the work and you get paid at the same point in time however in some industries you might have a situation where you get the money first in other words you basically receive the payment here before you did the work you haven't invoiced them you haven't created a sales receipt you got the money beforehand and some industries that's just the typical way the scenario goes the classical examples being something like a newspaper company or a a magazine where they basically have a subscription model which is becoming more and more common for applications as well in those instances the company gets paid for a year's worth of service and then they provide the newspaper the magazine the application for the following year and that instance when they get the money in theory they should be increasing cash because they got the cash and the other side shouldn't be going to revenue because they haven't earned it yet but rather should be going into a liability account often called unearned revenue so that's going to be a general scenario for those types of industries that basically all their revenues go through unearned revenue because that's the collect before they provide the service in that instance oftentimes or the goods you might also have a situation where your rental company and you get basically the the last month's rent or something like that or security deposit works in a similar way in that the company gets money but they have to either give it back with regards to the security deposit which we all know is never going to happen they're just going to say yeah we had to fix the house and we're not giving you no but in the case you might you got it's in theory you got to give the money back at the end or something like that so you haven't earned it at that point in time so you can't record it as revenue it should be recorded as a security deposit some kind of liability account something that you owe back to them in our instance we might have a situation any kind of area where you have a custom job that also is an area where you might get paid beforehand so for example if we're going to order in this case a large piece of equipment or a guitar then we might want to get a deposit upfront to make sure they're committed to the purchase so I can make this order of this custom you know guitar which is some some color that we don't think anybody else would possibly want or something like that but this person is ordering it specifically so we'll order for you if as long as you commit to purchasing it because I don't want to be stuck with this guitar color or whatnot I don't think I could sell it anywhere you know so we're gonna have to we're gonna have to do that so we're gonna get the payment beforehand now when you get the payment beforehand in in accounting theory you should increase a liability account which would be unearned revenue the problem with that however is that we want to be able to track it in the customer center and the liability accounts don't really have the sub ledger connected to it for the customers in other words what we would like to do is get the payment beforehand and tie it to the eventual invoice that we will then be making once we get the guitar and the way we do that is by using the account's receivable sub ledger typically in practice where it usually works where we enter the invoice and then we connect the receive payment to it in this case we're receiving the payment first we would still like to connect the eventual invoice to it so that's why a lot of times in software we'll actually end up with a negative receivable that we will record because it works logistically instead of a positive liability so that it can use these sub ledgers the sub reports that are connected to the customer center which are tied to the account's receivable account so hopefully you can see why logistically the software ties those things together because we're dealing with customers here so that's what we'll do first we'll actually create a negative receivable which isn't quite right from a financial statement reporting purpose and we could still use adjusting entries then to shore that up meaning we could then at the end of the period or the month or the end of the year do an adjusting entry to to increase the receivable and record the other side as unearned revenue on a periodic basis so that's the first method we can do and then in the second method we'll actually create the unearned revenue we can try to fit fit the unearned revenue in there but it doesn't create as nice of a link between the create sales receipt and and the receive payment so from a bookkeeping standpoint just to tie out these ledgers and track the receivables and the and the balances this negative receivable actually works better a lot of times than creating the unearned revenue account so we'll do both methods though starting with this method so let's go back on over and let's imagine that we're getting a prepayment so what we're going to do is I'm going to hit the drop down and I'm going to say that we got the receive payment before the invoice so we're going to receive a payment that we we know decreases the accounts receivable but there's no actual receivable to decrease because we haven't yet gotten done done the work yet so we're going to say this is for Anderson again Mr. Anderson does we do a lot of business there Anderson guitars payments doesn't have an open invoice they're saying hey look there's no invoice down here to tie that payment to and we're going to say that's okay because we're going to create a negative receivable tying an invoice to it later when we complete the process we're going to say that this happens on 02 25 22 and let's just say the method is cash for practice purposes and it's going to be going into the undeposited or previously known as the undeposited funds now called the payments to deposit account instead of going into the checking account directly and then there's nothing to check off down below because there's no invoice down here so what's this going to do it's going to then record an increase to this undepot what used to be undeposited funds now is payment to deposit the clearing account the other side's going to decrease the receivable because that's what it does here it's going to tie it to this customer which is Anderson guitars but it has no other invoice to link to so it's going to have that negative balance kind of hang in there for that customer so let's save it close it and check it out save it and close it wait a second I need an amount you have to have an amount here $300 $300 is the amount date is correct let me double check everything okay try it again save it and close it amount is important and then it gives you you don't select any invoice you didn't select any invoice you'll save this payment as a credit meaning it's something that will have available to then apply out to a charge you have in the future possibly with an invoice to your customer if you want to record a payment without an invoice use a sales receipt so I'm going to say all right I'll let it show me that again we'll say save as a credit please and then we're going to go to the balance sheet and check out what happened but first we got to run the report to make sure we got fresh stuff and then if we go into our clearing account down here which was which was the payment to deposit used to be called unearned revenue same same concept different name same concept different name if we go down and scroll down then we've got this payment way down here for the $300 going back up top back up top back to our report scrolling back in the other sides in the a to the r the accounts receivable representing that that usually that people owe us money that's what the total represents but we've got this $300 down here that is a decrease that's not tied to any invoice so I can't see basically that it's a negative kind of amount here but when I look at the actual activity for the customer I will be able to so let's go back on over and take a look at the sub ledger this time I'm going to go to the report to the right to do so right click on it duplicate it and we're going to open the sub ledger report for the AR accounts receivable checking out Mr. Anderson so we're going to go to the reports on the left hand side so that we can open one up closing up the hand boogie and then going down we're going down to who owes you money and we want to take a look at the customer balance detail let's look at the detail customer balance detail and let's change the dates because I have to I'm working in the future here so I'm going to make it 1231 222 and run it holding control scrolling down and you can see Mr. Anderson here has a negative $300 which is weird because if we have a negative receivable that would mean what that we owe them money wouldn't that be a liability instead of a receivable it would it should be called unearned revenue but the total receivable is still positive of course it's just understated now by that $300 this works great logistically because now once I create the invoice I'll be able to tie the payment out to the invoice under the customer of Anderson guitars which I cannot do as easily if I was to make an unearned revenue liability account which doesn't have this sub ledger that's connected to it so we'll see a way to do that possibly in the future but you could see how logistically from a from the counting standpoint this method actually works quite well from an internal kind of standpoint it's it's it's not exactly correct from a financial reporting standpoint and we can still adjust it basically we can use our adjusting entries so if this is something that works well internally and you need to report financials at the end of the period you can then go through this list at the end of the month or the end of the year or have your accountant do that and take any of these negative numbers here and basically make an adjusting entry increasing the accounts receivable the other side going to unearned revenue just so you have that there for the reporting purposes just like many other adjusting entries we do making it easy as possible for the accounting process to do what it does and the adjusting process to make the adjustments as quickly as possible for the reporting to be done as easily as possible and then reverse that adjusting entry so that we can get back to what works internally from the bookkeeping side of things from a logistical side of things so we'll talk about the adjusting entry later but that's that's the general idea now note that once the invoice has been made and this matches out you no longer have a problem because then it'll be will be back to just any normal situation the invoice will match out to the payment and it's not a problem at that point in time it's only slightly misstated the financial statements at this point when you have the deposit that you're hanging on to that you haven't done the work yet for because you have an understated asset as opposed to a liability okay let's go back to the tab to the left hand side and let's check this out another way by going to the get paid and paid area and look at the customer center so if I go into the customer center for example and if you were in the accounting view by the way that would be over here in the sales section we can go in there that's where it would be located so now I'm going to go into here and let's go into mr. Anderson guitars mr. Anderson and then so now we've got this payment and it says right here it's unapplied it's unapplied so that's how we know from there that we need to apply that out that's how we know what we have what they often refer to as a credit that we can apply to a customer meaning and notice that term that a lot of people times that term takes on its own meaning as if it just means that you're going to decrease the customer balance or something like that or it's a benefit to the customer it's really from debits and credits because uh to us if it's an accounts receivable account it should be a debit balance account and if we credit their account then we're crediting or lowering the account so when I say I'm crediting a customer account I'm crediting actual debit and credit on the credit side of the ledger which lowers the receivable the amount that they owe us in essence so that we're crediting your account by that that's what it kind of means okay let's do it again ultra vase ultra vase store it again let's hit the carrot or the the hamburger and then we're going to say plus and I'm going to make another one we're going to receive the payment that we don't have an invoice yet for for another customer this time it's going to be sam the guitar man sam the guitar man is ordering a guitar he's saying hey I want this specific gaudy guitar that I'm like man I don't know but if that's the kind if that's the kind of guitar you want we'll get that with the with the glitter on it or something and and some in some stuff but we want to make sure that you give us a down payment first just so you're committed to the purchase so we're going to say that we're going to have the payment it's going to go into the undeposited funds and we're going to say that it's going to be for 250 that we're going to receive now I'm not going to apply it to an invoice notice down here he's got an open invoice sam the guitar man I'm going to uncheck it because I don't want to apply this payment to that invoice this is a prepayment that we're going to say that I want to apply to a future invoice so I'm not applying it into anything down here this is going to decrease the accounts receivable not tied to any invoice and the other side is going to be going to uh to our our clearing account the payments to deposit which used to be called undeposited funds let's save it and close it and check it out I'm going to say okay save it he's got a credit that's going to be applied that's what we want that's what we want to happen let's go to the tab to the right and then run it again holding control down scrolling up if I go into that clearing account previously known as undeposited funds currently called the payments to deposit section going into that one scrolling down and we see we've got the the payment right there and then going back up top again back to my report holding control down scrolling a bit the other side is in the a to the r the a to the r the accounts receivable uh a slash r account scrolling down there's the two five zero for the payment looks normal there except it's not tied to any invoice which we can see more clearly if we were to jump on over to the sub ledge report otherwise no one is the customer balance detail let's run it to make sure we got fresh stuff happening scrolling on down to sam the guitar man sam where is sam there it is so there we've got this payment right there 250 once again we got a negative payment it really should be a positive liability but if we were just to put it into an unknown revenue account it wouldn't be tracking by customer for sam the guitar man and we wouldn't be able to apply the invoice out to the payment which we want to do and therefore the negative receivable actually works quite well logistically even though it's not exactly proper for financial reporting purposes and when they're in as an instance where it's easier to do something one way on the bookkeeping side but not quite exactly right for financial reporting we will do an adjusting entry at the end of the period to make it right on a financial basis purposes at the end of the period monthly or yearly again this adjusting entry is not the adjusting entry you will typically see for unearned revenue because usually for unearned revenue in a book problem we apply all the all the revenue or all the cash we get into unearned revenue and then you have to determine how much revenue would you have earned decreasing unearned revenue and recording the income that's a more classical kind of adjusting entry because there's a timing difference to it it'll have a balance sheet account and an income statement account but the idea of having doing what is is logistically good or easy or the most efficient process on the bookkeeping side and then adjusting periodically monthly or or yearly in order for reporting purposes is you know the same kind of adjusting kind of concept that we can you know apply of course and that's what we will do we'll see that in the adjusting entry entry section so if I go back to the first tab and if we go back into the customer center this time for Sam the guitar man why is this why is this thing up there hold on a second okay I got rid of it don't worry I got rid of them here we go we can get back to business now closing up the hamburger I hope I didn't mess anything up we're going to go to Sam the guitar man down here Sam the guitar man we could see once again here we've got this unapplied payment okay we're going to do it one more time one more time back to the first tab I'm going to hit the hand boogie hold the plus button and we're going to go down to we're going down to the receipt payment one more time and this one's going to be for Eric music Eric music customer Eric also wants a guitar they got they all got these three people got it in their head that they want this this particular guitar and we don't have it was like I don't know people I don't want that in my shop but if you want to order it we'll order it for you 200 and so the same thing this is going to this is going to decrease the receivable not tied to an invoice but it's going to go into the undeposited funds which is now known as the payment to deposit save it and close it and we're going to say yeah we want to apply the credit out checking it out we got now this amount is now in the payments to deposit other side is going to be in that ar I don't even need to drill down on it again because you've seen that you know what you know how the things work this time notice that nothing's been happening to the income statement profit and loss because we haven't earned the revenue yet because we haven't delivered the guitar in this case if I go then to the accounts receivable report scrolling down Eric music there's the negative 200 there for that one as well if I go back to the first tab and I was to take a look at Mr. Eric music then we would find that undeposited thing there too so unapplied status for the payment let's go ahead and make the deposit now so I got the money so I'm going to actually put it in the bank so if I go back to my balance sheet I can see that in that in that payments to deposit it we're holding on to $550 we're imagining we're going to the bank and making the deposit all three of those payments we received are going to hit the bank statement at one time therefore we want them hitting our cash account at one time our checking account in the books so I'm going to go back to the left hand side and go to the ham boogie and then we're going to go to the bank deposit bank deposit and this is going to be on 225 I'm just going to check three of all three of them off you could do it one at a time but that takes three clicks and you can do it with one click by clicking clicking that one up top so that's what I'll do to save some energy and so then we've got these 750 down here this is going to go into the checking account for that lump sum 750 which we expect to see on the bank statement making it easy to reconcile the undeposited funds or what it's called now whatever it's called now the thing to be deposited we'll have the three separate amounts in there let's save it and close it and check it out going back to the balance sheet balance sheet and we're going to say that in the checking account we should have the one lump sum one lump sum down here of the deposit for the 750 that is going to be matching out to what is on the bank statement and then going back to our report other side is in the payment to deposit payment to deposit right there it's back down to zero this used to be called undeposited funds it's what I call a clearing account it goes up and then it goes back down but not a temporary account but a clearing account because it does so not just on a monthly basis you know when it's served its purpose goes back down we can see the three amounts here as it goes back down so we can do some ticking and some time seeing the activity we can see exactly what happened what what took place in that account so let's go ahead and check out our trial balance to see where we stand at this point in future presentations we'll be making some invoices and we'll be applying those credits out to the invoice completing the process for these people that preordered their guitars so let's go to the reports here and let's type in the trustee trial balance so we can look at it trial balance I want to look at you trial balance pull it up pull it up ranging the changing<PHONE_NUMBER>122 run it and this is where we're standing here's our two legs the debit and the credit legs standing up and if your debit and credit legs have the same numbers and you're following along great if not try changing the date range sometimes it's a date range issue and we'll be doing a transaction detailed report at the end of the section which is a great report for diagnosing any differences


What is up guys karma medic here and welcome back to another dose be new to the channel Hi, my name is Nasser and I'm now a fourth year medical student studying at King's College London and somehow magically we've just Past two hundred and fifty thousand subscribers, which is beyond ridiculous And I know I say this every single time we pass some sort of new milestone, but a quarter of a million people Choosing to click subscribe on my channel is crazy So in today's video I thought it would be fun to take a trip down memory lane and have a look through some of the older videos that I have here On the channel have a little nostalgic trip about what two to two and a half years of video making looks like so I put out a post on my Instagram story and you guys worked your magic and let me know which of my older videos You want to see me react to if you don't already follow me on Instagram. You can do so at karma medic I post more regular updates about my life over there and every now and again You guys get to influence what it is that I do in my videos Alright, I'm gonna move to the side over here so that there's some space for us to watch videos together now By far the most highly requested video for me to react to is my very first video here on the channel I'm really not looking forward to that because I know it's gonna be cringy. I know it's gonna be weird That's probably exactly why you guys requested it. I see you. I see you my journey to medical school Uploaded almost two years ago on March 7th, 2018 Damn Oh god. Hi, my name is Nasser karma. I'm currently a graduate on undergraduate medicine course at King's College London Could we just talk about the quality for a second? This was the front-facing camera of my iPhone 8 the same one that I use right now. I didn't even use the back camera I use the front-facing camera. I had my phone bounced up on a bunch of cardboard boxes My bed is messy. My clothes on the thing are messy. I'm 22 years old And I want to start making YouTube videos I've been through the process of applying to both UK and Canadian medical schools I've learned a lot of things along the way. I think I might be able to help some people out there So just a little bit of background about me I'm so awkward talking to the camera and I'm clearly very nervous and you know, I think that I think that's totally okay Obviously when you first start talking to a camera, which is an inanimate object, you know It takes a little bit of time to get used to I mean, I was born in Vancouver in July of 1995 And I soon after moved to Greece two months later for my dad's work That's why I spent almost 18 years of my life. You know at this time like I knew the quality of the video wasn't good I knew I was shy I knew that I wasn't talking in an engaging way But I was just hoping that whatever I was saying was actually gonna be valuable and it was actually going to help students get accepted into medical school If I can't earn the BMAT, but at the time I didn't take them too seriously Oh my gosh If I can't earn the BMAT Yo What an amazing Transition title coming up. Oh my gosh leave a like if you want tips on UK cat prep Someone tell me why I capitalized every single word in every sentence that I wrote Look at that red text on top of a red bed This thumbnail I made it in Microsoft word, okay I used an orange text and then put a shadow in blue. What was I thinking? All right I think that's enough cringing at NASA from two years ago making his very first video the next video that I Want to jump into is this UK cat video the 99 percentile one have a look at this background my beautiful whiteboard with Karma medic written on it. Oh my gosh. That's so embarrassing So one of my goals with this video is to try and figure out when I came up with the phrase Welcome back to another dose. I can see I have a little pill there a little medicine tablet That's what this circle supposed to represent wait. Let's see. Did I say it in this video? What's up guys We need to talk about these logos Okay, this was sort of like I think it was my first channel banner That's what it was it was my first channel banner and when I was thinking about what I wanted to write on my channel banner I wrote get your dose that you guys can see down there and this picture over here That was the very first picture that I ever uploaded to my Instagram page karma medic So if I scroll down to the very bottom of my karma medic page, there it is Right there at the bottom that's where welcome back to another dose came from get your dose and here's a hand holding that dose Okay, so that's cool That's that's a nice thing to remember then I moved on to MMI interview stuff One of the videos that did really well was this one here how to break bad news Come back to another dose you guys being I hope interview prep has been going well Yeah, I changed the poster orientation from my earlier videos now I've got them in frames, which I think looks so much nicer Anyway, go for you guys. I Think something really interesting to react to would be my first vlog medical school vlog Yeah, all right. All right. Let's go. All right. So when I filmed my first vlog, I was really nervous I would just take my camera on walks like to the supermarket or to the train station or whatever slowly Slowly I got more and more used to holding my camera in a public space And that's what led me to be able to vlog in public also this little thing here This was my like karma medic animation at the beginning of a video before the one that you guys see now And now I have that whole intro animated of me and my desk Crazy how much has changed vlog it? I'm heading to my first class in the morning where I'm doing a presentation on HIV and vaccine development But everything goes well catch up with you guys after I finish my presentation I remember being so nervous walking through that hallway while vlogging. I was like, I hope no one comes I hope no one sees me There's the shard. I Was giving Stunning for the camera. Yeah, that's That's exactly what that was. So to give you guys a little bit of an update about my week all around yesterday We had the section of the upper limbs that means from the shoulders all the way down to the hands I missed my section so much like being in the dissecting lab and just being there with your cadaver Taking your time going through everything Such a such a good good experience all settled in I'm finally home now. That's that That's the end of my day Karma medic whiteboard got an update. All right, what is up guys karma medic here and welcome back to another dose What is up guys karma medic here? It's really it's really interesting to see how my like intonation has changed with that intro I got this glass jar and I filled it with M&Ms of the same color as the karma medic logo I did that to commemorate our one case subscriber goal. So I said one case subscribers.  It was just so worth it The memory and the commemoration of hitting 1,000 subscribers in this glass jar is worth so much more than 13 Pounds and I keep it on my desk in the background of almost every single video as a reminder Like this is where I started all right now that we have the story of the M&M jar out of the way Let's move on to the next video This was the second vlog that I made on my YouTube channel And it was the one where I felt like I really stepped up my editing game And as you can see it got 230,000 views compared to the first one they got 40,000 so it did very very well I didn't know we were in the information for society I was sitting outside this building trying to vlog my like morning when I arrived on campus And this woman walked by me catching me fully red-handed just like vlogging on the stairs And I was like Then I continued so this vlog was a really good example of the lifestyle that I tried to promote on this channel as much As possible which is that academics are incredibly important and you should focus on your academics That's the number one well a big part of why you're at university But it doesn't mean that you can't have a balanced life doesn't mean you can't play sports in your evenings Like I did here play basketball every single Thursday I'd hang out with my friends during the day at school I could go to extracurricular activities that my friends were doing I'm trying to promote that you have time to do other things In your life. I just think it's all about how you prioritize your time and where you choose to spend your time Thank you for coming to my TED Talk all right And then it happened and then I uploaded the medical student finals week vlog The video that would forever change my life and my YouTube channel so this blog over here went Super super viral which is absolutely crazy. It now has 1.8 Million views I've always wanted to comment on this because no one has ever commented on it And I just like I feel like I need the people to know I want people to know you can see my tripod through this like Crack in my door which is going to be the next shot that I use film This shot that I'm filming is my camera on that tripod that you just saw over there And this was also the first time that I included some like serious B-roll in the background of my videos And this is that hyperlapse This was also sort of like my first big big editing project. I forget how many gigabytes of footage are recorded I think it was like 200 Yeah 200 gigs so I edited this vlog over something like 10 days I would do like two or three hours a day something like that it took absolutely for ever now I'm a lot faster editing my vlogs because I've sort of gotten used to what I like my editing style and things like that This video is pretty important for me because it was one of the first times I did something completely different completely out there in terms of the content that I'd been uploading on my channel Everything was revolved around medical school and studying and entrance exams and things like that And then I went to made a video about food about meal prep And I think this is one of the best things that I do in regards to my channel It's that I try and do anything that makes me happy anything that I find fun anything that I find enjoyable And I think that's what makes this channel and this hobby so much fun for me It's something that I really enjoy doing big shout out to Arslan He helped me film this video even though he was probably cringing at me the whole time And then he gave me this amazing review Yeah, let's see what it tastes like give your honest opinion Like all camera Very average Way guy all right the next video that I want to comment about real quick is my room tour This is one of my favorite videos that I've made and it's because Alexia was there She's the one who helped me film the video most of the videos I film are just me by myself talking to the camera like I am right now So anytime there's someone else with me in a video or helping me film the video It just makes it so much more fun. It's like much more of a social experience What is up guys karma medic here and welcome back to another dose we refilmed that intro I don't even know how many times because we just broke out in laughter It's obviously so unnatural to like knock on my own door and be like hey welcome to my room banking as well And it's also where I keep anything that I need to keep I Speaking of Alexia, let's react to the video of Alexia and I going to Paris I completely surprised her She had no idea that I was gonna book this ticket. It was for her birthday, which is December 13th So we're about to go out for dinner I wanted to do this surprise and I wanted to film her reaction without her knowing and my heart was just like beating Through the roof I had one camera hidden over here and the day before I had placed the camera there Checked the angle and then drawn two lines with a pencil so that I knew exactly how to put it the next time And I had hidden it right next to the these two candles so that she'd hopefully not see it The second camera was here so that's where I keep my cameras normally anyway up on that shelf Faced in this direction so she would never know if it was turned on because that's where it always is Made my heart melt made my heart melt This scene is so funny. Okay. Okay. We have to play this so a little bit of context Alexia And I finally find the place where we want to put our lock where we want to solidify our love and this is what happens Of course And of course it falls through the crack into the river Let's move on to another video a lot of you guys wanted me to react to my like quarantine day in the life vlog So let's do one of those as well I think I'm gonna react to this one because it's a little bit different than some of my other vlogs So yeah, I loved I loved making this video when I'm vlogging I don't really take the time to set up the perfect shot or find the perfect frame or do something multiple times to make Sure, it's perfect when I'm vlogging. I'm documenting what is happening in my life I'm doing what I would normally do anyway, but I'm just placing the camera somewhere and filming it But in this video, I really took my time with every shot that I did I made sure that everything was like neat everything was aligned here and welcome back to another dose today I'm gonna be running you through my typical study routine during quarantine. So grab your coffee I don't know if anyone noticed this but there's a little piece of dust stuck to my fingernail here And when I saw this in the edit, I was so mad because it was Wednesday night Which means my video is going live on Thursday morning And I didn't have time to redo this shot and get rid of that stupid piece of dust I set an alarm for seven hours of sleep almost every single day of the year Whether that's weekday or weekend whether that's university time or vacation Yeah, I honestly don't think I've slept more than seven hours Probably in all of 2020. I usually sleep between six and a half and seven hours This is easily my favorite part of the video I'm chilling break at around 8 30 p.m After putting away the dishes, I walk to my mirror and give myself a motivational speech About how there's only one hour of studying left in the day and then I can do this Despite how tired I am from studying how much I just want to turn on my playstation And play some Call of Duty with the boys for this last hour of study All right, so I don't actually do that I just thought it would be really funny as like an Easter egg to put in this video Happy studying, stay safe, and I'll see you in the next one Peace All right On to the next video Hi, it's KarmaMedic here and welcome back to another dose We've actually done it. It's so crazy to say out loud But recently this channel has passed 100,000 subscribers Can we take a second to talk about my hair? This is what my hair should look like, okay?  This is way too much hair. I need a haircut so badly I never would have thought this would happen back when I started my youtube channel And still I'm pretty sure I don't really understand what it means To have a channel with 100,000 subscribers This was a big big moment for me because it sort of solidified all the work that I had been doing Over almost a two year period Like when I had a thousand subscribers, I put it into this physical object Like I can look at this and I can know that a thousand people subscribe to my channel And then when I go to 100,000 subscribers, I could put it into a tangible physical plaque on the wall And that meant that I had 100,000 subscribers It sort of helped me understand what 100,000 subscribers means And now as we grow more and more and more I think I need more objects because I definitely do not understand I can't wrap my head around 250,000 of you clicking subscribe on my youtube channel Okay guys, and I think that's actually a perfect place to end this video I'm gonna close it over here I have had so much fun taking this trip down memory lane Having all this nostalgia looking through all of my older videos So thank you guys for suggesting all the different videos for me to react to Over on Instagram Don't forget to follow me over there if you don't already Let me know in a comment down below which videos I should have reacted to Or any of your own reactions or comments to my older videos If you haven't seen them I think that is it for me I hope you guys are having a wonderful day Happy studying, happy chilling, happy working Whatever it is you're doing And I'll see you in the next one Peace So I put out a- Had me out like a light-y Like a light-y Oh no I don't need to bring this back I don't need to bring this back Ah Might have to cut that out in the edit