What's up, y'all? It's Debbie. I'm back with a weekend wheel game This was game five as a challenge between me and problem What we do is we spin a wheel to find out what type of circumstances you got to play your weekend league game with You know, they compound on top of each other Sometimes you'll have gold DB's gold wide receivers. No tight ends. You have to run a certain playbook No running the ball stuff like that to really detriment your ability to win a mad game And it's a challenge between me and problem that we want to do for the rest of the year here Well, we can lead to kind of keep it knowing fresh keep it more entertaining for y'all and this was my fifth game I had to win this game in order to force overtime with problem and by this time it's your fifth game So all the little things that you roll on the wheel that goes ahead and compounds and goes on top of each other Top each other top each other. So at this point in the game this point of weekend league my fifth game I have a all-silver D-line. I Have all gold secondary no 91 zone actually pretty terrible guys and you see here He throws a sea route and nobody's near him normally a deep blue will play that a little bit at least tackle But he's just wide open. So I have a silver D line Gold DB's I still have my linebackers though bar and landing Collins. They're making plays for me So that's what I kind of got a lean on defensively here is the fact that my linebackers forced to punt the first drive Now offensively I have I have a bronze running back now There's only I think there's only two bronze running backs, but I chose to use um, Reggie Bush So I can't really run the ball. He has a to speed and just it's terrible.  I can't run bunch. I can't run tight.  Ah, here we get alerts Geez that's just Anticipating he's not going to cover the drag the whole way Terrible play there. So I'm down 7-0 Turn the ball over Hopefully we go home to a field goal here and we stop and get to a third and long feeling great about the drive We play safe only rush three. Here's his little drag We're going to tackle grunk we're tackle grunk or grunts gonna run through my gold secondary for a touchdown Not only do they not play great zone defense They certainly can't tackle and we go Reggie Bush taking a hit right there So I definitely played on conservative with it with a bronze running back Here we have a big play over the top to my man Teddy getting junior this play out of ace I'm gonna run a lot because I feel it's like the main play I can move the ball with like I said because of weekend Well, I can't run bunch.  It was a fight that drive, but we fought got to 14-7 Here he goes running the ball a little bit. You know my secondary their goal They're not gonna make tackles.  It's really a challenge playing with a bad secondary But you know, that's what weekend wheels about sometimes you got a you know play with a bad secondary Here we go. My secondary just somehow getting absolutely bombed by John Ross I mean, I think my DB's have about 90 speed at the most and 98 speeds is toasted them So it's 21 to 7. I'm in a dark place right now. This is where I'm getting sad It's before half just trying to go ahead and get the half over where we get the ball to have So we have to get some points here. Keep the game competitive We can't give him the ball back up two scores because it's just too comfortable for him Here we'll get in sacked away. We get to a third along again Want to take off with Vic make this more manageable Vic doesn't fumble right there make this a manageable fourth down So we go ahead and throw the out route and get the first down the scramble made it a short for first down for me So I was able to go ahead and get that. Here we go Now I'm gonna start taking one now start locking in like I need to really start going. I can't play around I have a bad defense. I have a bad playbook. So I have to go ahead and make some plays here I gotta take my little short things every play. I gotta take a little play I'm gonna with though the n-rock but Ted getting drops that we get to a third and five That's I'm teddy getting holds on to it after getting crushed a little quick slant action. I ran right there Here we go one run around throw it underneath right here to hester best been moving again Go ahead get some extra yards right there with devon hester and here we go ahead and we'll throw it over top teddy again Gets his feet in on the two yard line Run commit first down.  So now we're fighting back Here we go and run against my gold db's this terrible pursuit. They're so slow But eventually make the tackle getting to the fourth quarter now I can't let him get a fieldboard again and be over. He scrambles there 35. He's probably in field go range Here he goes again, we send the spot god give it maybe you can fumble He slid good play by him slide not taking a hit get to a second and nine We go ahead and get to scream with landing collins Get him third and long if I get him again, he can't get a fieldboard. This is what I really need Let's get some pressure great coverage. We're able to hit big get them down Okay, now he has to punt we're down seven money drive right here with reggie bush it running back You know with this playbook that i'm not that comfortable with but we're gonna go ahead and make a money drive right here Make a great read hit the flat right there Understand that you know the time is on my side. I have three timeouts. I can do whatever I want Somehow once again, he's in dollar and blows up the run. I mean, I don't understand that He will run a little flanker dig right here Yeah, great covers by mel blunt right there. I think he covered devin has to pretty good right there I tried to squeeze it in but Didn't work out here goes same coverage I'm able to escape with vick get outside get out of bounds stop the clock Minute left three timeouts. The one thing about this offense is not really high power So i'm not going to be able to just move down the field effortlessly So we wanted to take our chunks here and there where we see him And we will vick in the pocket again go ahead get a couple yards use a timeout 39 seconds two timeouts That's plenty of time available We go in here we hit x and we go ahead look for the spin Ah, man, we attacked with those should have went out of bounds wanted it all right there But and here we go vick over those a touchdown cheese We'll go he's basing line pressing basing line pressing You got to always look out someone's going to baseline pressure and here we go I went for it again Try it again vick over those it again get to a third and ten Here's the play we draw up a street crossing routes and the deep end round He only rushes to plays a little man covers and we're able to hit them and has their possession catch Get enough of the first down 18 seconds no timeouts I'm gonna come to the line here. He shows gets aggressive. I only sent out three wide receivers low ball dot for the tie Right there. I blocked everybody because the sack would be detrimental. I could not take a sack It would be game over So I blocked the crib able to go and hit the low ball for the dot tie the game up We're in a battle right now. I'm scared of everything because it is gold secondary screening john ross But we're able to tackle him Here he goes for a bomb and honestly looked it looked scary when he let it go But vick just overdoing just a little bit headed to overtime I always pick heads in overtime because no type of man picks tails pick has we win the coin toss So this is my drive. I don't want to let him get the ball back because of my secondary and my d line It's just rough right now Well, I started with a little baby dot hit the lady walker Get nine yards. They tell you get nine yards with the lady walker. That's good. Reggie bush got to keep him on this I mean, he's terrible, but if you're going to run this offense, you've got to pop a few runs in there from time to time Here we go again a little baby dot. I'm locked in right now. I'm taking what's there I'm going to move down the field effortlessly Slowly but surely but then he plays the baby dot and we go ahead hit him up top get a nice 20 30 yard gain I'm on the 20 I try to hit a run Aaron Donnell wasn't having that right there. Reggie bush wrapped up in the backfield Here we go again. We're going to go a little streak of dragging across from Rob We'll see what he does with his user right here He comes down guards X. I try to hit it to To hester and over the top try to possession catch he drops that one get to a 30 and 18 I see him here up. Can I can I hit the baseline press? Can I hit the fade lob it up? Teddy again? Touchdown gg's in the chat Clutched that game out. It was a battle because of my secondary My d-line was silver, but I was able to force overtime where I have to play problem So I got that game recorded me verse problem in the weekend will finale So for me to post that I want 200 likes on this video Also, please comment and hit the sub button. We're trying to grow this youtube I'm trying to bring y'all more content out here


What's up everybody? Jason here for jaspierscasebricks.com. Another March Madness promo break sold out 21-22 Panini Elite Basketball 4 box break, pick your teams number 4. Remember This is actually from Loosebox is that our fresh case actually we're only gonna do a one break of this no more five and six For the time being so this is elite number four all-card ship. So at the end of the break we'll randomize all of these customer names and and We'll give away a spot in the March Madness promo. So like I said, we're only gonna do this one break So just grab from for loose right here as well This is from a sealed case as well from Instagram, but we took it off of there as well sell it from here Yes, nice. I'm gonna rip these boxes here and then we'll go through the hits Yeah, I don't think you'd get injured either and be out first whole career, but It's just crazy because this is like you guys are all in on him in the sense that like No matter what happens like he's getting paid fully, which is crazy, but Yeah, if he can come back and not be rusty and play like the way he did two years ago Major upgrade for sure Plus, I think also to be said to guarantee money pride didn't want to play Against Tom Brady twice a year Because I don't think Brady's retiring after the season either I think he's gonna play I have no idea Hollywood check your receipts So the glance of my sheet, I don't see no names of yours here. So probably not But Always check your order receipts. Let's rip another box really quick Have we pulled any of those passing the torch Yeah, like out of all the breaks we've done of this Because we did about like 20 plus half case breaks of this so at least 11 to 12 cases full cases, so I'm wondering if we even pulled one of those passive and torches Well, the receipts are there at Hollywood in case you forget what seems to get you back and spots You have the power Caron Butler is our first autograph Washington Wizards going to Josh last-bomb mojo Dica here, Stephen Curry That is Marvin Bagley and Nice Kai Jones to 99 for the Charlotte Orange blue Lou still bound Zion Larry marketing for the calves David Bertens for the Wizards. It's another one there last-bomb mojo LeBron tidal waves and Queen Grimes For the New York Knicks that is going to Craig There is Bay Z who's been ballin Dica their Joel and Bede Jalen Johnson Stephen Curry got a chiller nailing stuff our next box. Good luck So well and Bede turn of the century Jason Williams for the Kings that is 23 out of 35 Sacramento Kings that is going to Arthur King. There you go, man Daddy is young for the Spurs John with that one and Desmond Mason Impact impressions Autograph for the Super Sonic's going to Shawn Madigan the Thunder Brian Forbes for the Spurs purple to 49 Lamello Brian Mingram, Dica, Orange LeBron James, Spellbound Jalen Green for the Houston Rock is Josh with that one. Look at that 61 out of 99 That's pretty nice solid Lou Dorr for the Thunder Spellbound LeBron and a Cade Cunningham to 999 Very nice Cade going to the Pistons and Josh. What a break for you, buddy Jalen and Cade Nicholas Clarkston Yannis, Gorandrozik, Lulu Very nice. All right next two guys That was a good box It is Rex just buy it out for us man Come on man Show them, show them that Can't believe this. Just take it buy it out. You'll win all the spots and And friggin, you know, we'll get that break rolling guys. Good luck Alvin H with the Washington Bullets Jordan Poole a Devon Booker star status to 49 It's going to Pizzo in the Hizzo John Morant Tyrus Maxie, that's a nice one right there How about a triple J? It's a 99, 69 out of 99 Yolkich and a Trey Murphy Composite Really? That's awesome Dane, Dala Dane. Look at that. That is a dimension. That's a case hit guys. This is from Instagram loose boxes from the case and look at that. We got a case hit. Not bad. Not bad Xiong, Lulu Zyre Williams Defense hit last night in the big harness Yes, he uh, I know I told him he hit a Trey young Second-year mosaic fast break autograph, I believe. What spot was he in the thing? He was number two, I think two or three It was a Trey young. Trey young autograph from fast break. I believe mosaic. Hi guys, last box. James Harden Sadiq Bay Didn't he just drop 50 points last night? Out of 99. Look at that. This is not Charles Barkley though But hey, you got an autograph though, Pizzle Gugliota Trey young, PJ Washington, Jr. And JT Thorg To 9.99, Xiong Spellbound Lamello, CP3 Spellbound, a Talonhorn Tucker and your autograph is Zyre Williams 13 out of 25. Very nice for Memphis Minsoo, there you go. Penthouse. That is a Royce O'Neill And we have a Xiong to 99 power formulas Jaylen Johnson to 99 Atlanta ox I'm gonna Josh All righty guys. There you go. So that was the break there Elite number four. So now we're really quickly guys. I'm gonna Switch scenes and we'll give away that March Madness promo. So all right guys, those breaks have to sell out tonight We're a lot closer than people think especially with those billers helping out so really need to uh Get those rolling if you guys really want to sell out that promo tonight guys tonight. I think ends the round of 64 um, so gotta try to Get those done before so we can give away those those teams And uh potentially of course you guys win some break credit With those teams that get assigned to you So got some pretty okay autographs. It's not too bad some nice veterans and then Xiong was Was a nice little rookie there. We did get that those early on ones Dimensions case hit and then we got Kate and Jaylen Green, which is not too bad there And all this would be top loader for you guys All right, you guys so let's switch scenes again and Good luck everybody Here's the dice earlier as a customer names. Let's paste them in here Rollets One and a five six times. Good luck six times one two three four five six Boom six one of five six Just missing out was Harry and josh. Congratulations. Boom six times Congrats, man. So let's paste your name in here into the March Madness promo and again guys, you know, we're not too far off We're really not just really need to sell out those breaks guys So we're just what is it One two three four five six seven more promo breaks away and again A lot of these though are half fillers really like see this one sells out with this filler halfway there Almost half aware that they're in the second limited break contenders sells out with this filler here at 22 Uh, and then down here dynasty sells out with that fillers and maculates down to nine So a lot of these breaks are more than halfway or just a filler away From knocking out all those promo breaks and selling out that promo tonight guys. Remember the deadline is tonight Otherwise the promos cancelled sad face. So Appreciate it guys. Jasper's case breaks.com


Hello, and welcome to the session. This is Professor Farhad, and this session, we would look at an example that deals with interest capitalization. This topic is covered in intermediate accounting, as well as the CPA exam. As always, I would like to remind you to connect with me on LinkedIn, if you haven't done so. YouTube is where you would need to subscribe. I have 1,500 accounting, auditing, and tax lectures. Please subscribe, like my lectures, share them, put them in the playlist, let the world know about them. If they're benefiting you, it means they might benefit other people, so please go ahead and share the wealth. This is my Instagram account, this is my Facebook account, and I do have a website. On my website, you can access extra resources for accounting students and CPA candidates, including notes, slides, quizzes, 2,000 plus CPA questions, as well as other. Visit the website if you are interested. Also, I suggest if you're studying for the CPA exam, there's this company called studypal.com. It's an artificial intelligence driven study body platform that match you with another candidate. They have users in 85 countries and 2,500 cities, from LA to New York, so if you're interested, also you can check them out. So let's take a look at this example, because interest capitalization give students many problems, so let's go ahead and demystify by looking at an exercise. So let's take a look at this exercise. On December 31st, 2016, Maine borrowed $3 million at 12% to finance a construction of a new building. So since they borrowed this $3 million specifically for the new building, we're gonna call this specific borrowing. So this is the money that we're gonna be using first to cover the expenditure. In 2017, the company made the following expenditure related to this building. So they started the expenditure in March, 360,000, June 1.6 million, July 1.5 million, December 1.5 million, and the building was completed February 2018. Now, additional information, they have other debt. They have debt other than the $3 million that they borrowed specifically for this project. They have a bond, a 10-year bond, a $4 million 10-year bond. They have a note, a loan, a six-year, 10% note, 1.6 million, and March 1st expenditure included a land cost of 150, and they generated interest revenue of 49,000. So this is the information that we are giving. Now, if you don't have the slide, I'll copy this information down because I'm gonna move to Excel and work this problem on Excel. So I'll give you a minute if you wanna pause and copy the data down, okay? So the question is, determine the amount of interest to be capitalized in relation to the construction of the building and prepare the journal entry for the capitalization of interest and the recognition of interest expense. So as I said, I'm gonna go ahead and switch to an Excel sheet. So the first thing you have to compute when you are dealing with such a problem is something called the weighted average accumulated expenditure. And once you complete this, once you complete this computation, the rest is pretty simple. So how did we make the expenditure? The first expenditure, again, make sure you have written the data down. The first expenditure was made March 1st, and the amount was $360,000. Now you have to compute for how long it was outstanding, for how long it was outstanding. Well, if we spend the money March 1st, it means interest started to apply on this account. So it's simply put, this is when we spend the money. So in other words, once we spend the money, we assume the money is incurring interest. So it's gonna incur interest of 10-12 of the year. Why 10-12? All of March, all of April, May, June, July, August, September, October, November, and December, that's 10 months. So be careful whether it says the beginning of the month or at the end of the month. March 1st, you will count March. Now I always compute this percentage. It's, you don't see it in textbook. I just like to show you that this 360.833, it means the majority of the year was outstanding. I just like to do it for myself. You don't have to do it. Now the next thing we're gonna compute is the weighted average accumulated expenditure, which is the 360,000 times this ratio. This ratio is 10-12. I just put the ratio here, okay? Times 10-12. Now, which is 0.833 is equal to 10-12. So this is 0.833. If you look in the formula that I have here, it's 10 divided by 12, which is 10 month divided by 12 month. June 1st, we made another expenditure. We spent $600,000. And remember, this is June 1st, not the end of June. Therefore, this expenditure was outstanding for 712 of a year, which is a little bit than half a year, 0.58 little bit than half of a year. Now the weighted average accumulated expenditure will take the 600,000 divided by the fraction, which is 712, 350,000. On July 1st, a month later, we made another expenditure and we spent 1.5 million. That, well, if we made the expenditure July 1st, from July 1st till the end of the year, we have six month, which is 0.5, and the weighted average accumulated expenditure is 750, because we spent 1.5 million, but we didn't spend it the mid-year. Then on December 1st, we spent 1.5 million, and that's gonna accumulate interest for 112, or accumulate avoidable interest of 112, and the ratio is 0.08. So notice as you go toward the end of the year, the ratio goes down, just it's a check for me. Then the if I take 1.5 million multiplied by 0.0833, it's 125,000. So this is how much money that the company actually spent, 3,960, but the weighted average accumulated expenditure is 1,525, and this is the important number. This is the number that we are looking to compute, because from this number, what's gonna happen is we are going to, this is the number that's going to help us compute, that's gonna help us compute the avoidable interest. So simply put, in other words, if we did not undertake this project, we wouldn't have to spend this money, and if we didn't have to spend this money, we wouldn't have to, on average, spend this much money accruing interest. So 1,525. Now we need to compute, well, 1,525, but let me go back to the problem. I just wanna show you something real quick. For this project specifically, for this project specifically, we borrowed $3 million. We borrowed $3 million for this project specifically. What does that mean? That means, guess what? We don't have to compute, we don't have to compute the weighted average of other debt, the interest on other debt. Why? Because the money that we borrowed for this example happened to cover the, remember, we borrowed, let me make this a little smaller. Okay, let me make this. We borrowed $3 million, and we only going to have weighted average accumulated expenditure of 1,525. What does that mean? It means the avoidable interest is 1,525. Simply put, the avoidable interest is 1,500, not that avoidable interest, the weighted average accumulated expenditure is 1,525, which is less than the amount borrowed. So we don't need to compute the weighted average accumulated expenditure, the weighted average interest rate of other debt. In this problem, why? Because it's not needed. We don't need to do so. So if we take 1,525 multiplied by 20%, 12%, which is the interest on this debt, this is how much interest we incurred on this debt. Therefore we use this interest rate to multiply it by 1,525. We get to what's called avoidable interest. Now we get to what we call avoidable interest. Now what is the avoidable interest? Simply put, we could have avoided, we could have avoided 183,000 in interest, in theory, if we did not undertake this project. Why? Because we wouldn't have to spend this money. If we did not spend this money, in other words, we wouldn't have to borrow it. If we didn't have to borrow it, we would have saved on interest. So this is the avoidable interest. Simply put, in this problem again, we don't have to worry about computing the average interest of other debt. Now, this is the avoidable interest. Now we have to compute the other figure and the other figure is the actual interest. So what is the actual interest? Is how much interest we actually paid for this company? And what do you have to do? You have to go back to the problem. You have to go back to the problem itself. And we have this debt as well as this debt, in addition to the 3 million. So we have three, three liabilities. So let's compute the interest, the actual interest. Well, the first debt, let's take a look at it. The first one is 3 million and that's for the specific borrowing and we're gonna be paying 12% on that debt. So in the interest, 360, then we have another bond, 400,000 incurring 13%. And how do you compute the interest? The principal times the interest. It's for the full year and we have a third loan, 1.6 million incurring 10% interest and that's gonna be 160,000. Overall, the total interest is 1 million in the 1 million and 40,000. This is actual, this is what we call actual interest. This is how much actual interest the company paid. Now the question becomes, I mean, in general, when we have interest, interest is an expense. Interest is an expense, generally speaking. But in this problem, since we are building a building for our own use, the interest, some of the interest can be capitalized. How much can be capitalized? Well, how much can be capitalized depending on the lower of these two figures? We have to look at the avoidable interest and actual interest. Which one is the lower? The lower is 183,000. What does that mean? It means we actually paid 1,040,000 in interest. So simply put, cash paid, cash paid in interest, 1,040,000, this is how much we actually paid. Of this amount, 183,000 will be debited to building. This is the amount that is capitalized. It means it's treated as an asset. And the amount, the difference between 1,040,000 and 183,000, the difference is the amount that we are going to expense. We are going to expense 857,000. So we're gonna expense 857,000 of the 1,040,000 and capitalize 183,000. In the normal things, we would have debited the whole thing for interest expense. 1,040,000, that's the normal thing. But since this is a qualified asset, we can capitalize some of the interest because it's a construction. So the problem asks also about interest revenue. Simply put, interest revenue, we debit cash, credit revenue, interest revenue under USGAP. You don't have to worry about IFRS. How do we treat it under IFRS, okay? Okay, if you have any questions about this problem, please let me know. Also, I'm gonna be posting this problem in the slides and the Excel sheet on my website. So if you're interested, you can go to my website and if you're interested, you can proceed to downloading. Otherwise, study hard for your exam, study hard for your CPA exam and see you on the other side of success.