[tropolis]

your dreaming with that 4k a month right now.

i honestly dont know if you'll even be able to get an accounting job.

thats an over saturated field right now.
what school did you/or are going to?

do you have any student loans?

[chrisharvard01]

Try your damnedest (<--yes that's a word) to get a place that includes HEAT, especially if it's cold in the winter.

Utility bills can really f_uck you over if your place is not very well insulated. Heat/AC can range anywhere from $100-$200+ by itself. Add in your sports package, cable, cell, internet, water, trash/sewage, liquor, beer, what you spend on hookers-- all the necessities... that little s_hit can add up if you're paying an arm and a leg to keep your place warm.

[Glitch]

if your parents arent making you join a cult or trying to finger your butthole or something you should try to stay there as long as possible. not sure why anyone would choose to go pay all these bills unless they were in a bad situation or trying to start a family or something like that.

dont forget a few hundred dollars for food.

[d2bets]

There's always more expenses than you budget for. What about furnishing your new place? Stuff for your kitchen? Don't forget about annual stuff like auto registration, insurance, etc.

Are you dating? That can get expensive, for sure.

[MEATHEAD]

Don't forget drugs aren't cheap>

[Ricki Roma]

Don't forget drugs aren't cheap>

Cocaine is a hell of a drug.

[Tech N9ne]

Yea man you forgot about weed expenses

[TobiasFunke]

Wow your 23 without a job just out of college and have 20k sitting in the bank?

Good for you my friend...your in great shape considering your circumstances. Once you land a decent paying job you should be off and running

[onlooker]

Milk the free room and board as long as you can. Stack that money until this economy gets better. With that money saved, buy a house at a low price, and your mortgage will be way lower then $1050 a month. I agree with Broxner, never pay more then 25-35% of your monthly income after taxes on rent/mortgage.

Also have a emergency fund of at least 6 months in living expenses set aside.

Everyone already touched up on all the other expenses.

You have betpoints for the food. Pizzas (or other fast food gift cards) everyday if you can get your point balance high enough.

[RudyRuetigger]

I'm 23 years old, just graduated college and am going to move out of my house that I currently live in with my parents.

Hope the transition went well. 23 isn't bad

[secretstash]

lol i had previously never seen this thread before. but now EVERYTHING redsox lies about is even more hilarious

cheers to who bumped this

-stash

[flyingillini]

Rent for 1k a month? Where is this? Middle of nowhere?

[RedSox88]

random this thread got bumped but i like it!!!!

yea rent is $1,085 in middletown CT

30 min drive from Mohegan sun 45 min drive from Foxwoods..

love the place only 850 SQ FT but for me that is plenty

going to mohegan sun right now actually im gonna make a video soon to shut stach and rudy and all you other haters up

proof of all my bets, cash money and video of apartment cause you fudgepackers cant imagine someone who has it as good as me

peace in the crease!

[secretstash]

i will leave u alone peacefully cuz i hadnt realized that 5 days in row u paid dj.. so ur not a stiff in my book anymore so congrats.. finish that debt off man

have a good one

-stash

[crustyme]

[byronbb]

Yeah when I first moved out I was worried I wouldnt be able to afford it but if you shop right for food its easy to live cheap.

[RedSox88]

thank you stash i appreciate that

Im not a scumbag and if people treat me with respect i'll give it right back to em'

stash i'm sorry for everything nasty i've said about you

you won't be hearing anything bad from me again, you seem to be a stand up guy as am i.

have a good one and good luck with your plays if you got anything going tonight...

[sweethook]

n i c e

[flyingillini]

random this thread got bumped but i like it!!!!

yea rent is $1,085 in middletown CT

30 min drive from Mohegan sun 45 min drive from Foxwoods..

love the place only 850 SQ FT but for me that is plenty

going to mohegan sun right now actually im gonna make a video soon to shut stach and rudy and all you other haters up

proof of all my bets, cash money and video of apartment cause you fudgepackers cant imagine someone who has it as good as me

peace in the crease!

That's why, you are living in CT for Christ Sake... not a desired place to live......Save your money and when you can afford to live in a decent State than go for it.

[ericthegangster]

redsox, did you land an accounting job? what are you raking per month?

[darkhat]

Do people really spend only 300 bucks a month on leisure and/or entertainment? I spend more than that a week on alcohol. I wish I didn't.

[RedSox88]

thanks for the replies guys , happy to be back in good graces with stash,

eric, yea i landed the job. Working at KPMG in hartford as an auditor.

Started salary for me was $57,900. Not great, not bad... will be making alot more four years from now...

taxes kill me though about 27% of everything i make goes away POOF lol fml

[MoneyLineDawg]

going to mohegan sun right now actually im gonna make a video soon to shut stach and rudy and all you other haters up

Link?

[NYSportsGuy210]

Where did you go to college Red Sox88?

[RedSox88]

University of Hartford....

Went there mainly for the rebutable business school

Barney School of Business is one of the best for accounting...

enough to get me a job at the big 4 so thats all i care about lol

[NYSportsGuy210]

What about UConn or Baruch in the city?

What was your GPA by the way? Is accounting easy or hard?

[RedSox88]

my ending GPA was 3.51 not even good enough for honors lol but wayyy ahead of alot of the people i graduated with

that being said the big 4 accounting firms really look for 3.4 or higher

i got lucky i think and nailed the interview

also yes accounting can be tedious and you must be pretty good at math to do it and dont mind numbers all day long

right now im just looking through clients of ours records and auditing the accounting that was done for them to find flaws or errors

so far i found 1 lol i swear i can not do anything and they just wouldnt know

my cubicle sucks lol but money is money lol

[RedSox88]

also, i go on SBR alot at work which is probably a BIG mistake seeing as i just started there but to be honest all the employees do

plus we are allowed to on lunch break so if they ever check my cpu ill just say it was at lunch

lol ill prob get screwed on this one

[NYSportsGuy210]

I do that at my work too. They ended up putting SBR on the "Access Denied" list. I was so scared I was gonna get fired but not yet.


I have an accounting question for you....pretty basic.

I learned A = L + OE right in my Acct 101 class back in the day. Now I am pretty good at math but accounting math to me is weird because of the classification thing. I am hoping you can clarify it for me. This si why I opted for a finance degree instead.

So say I own a business right. And I just opened it up so I need to raise some money through borrowing. So I get say a loan from the bank for $300,000. Say it's long term....I can pay off like $20,000 a year plus interest after the first year and in the first year I owe like $50,000 back.

I also decide to raise money through selling shares of my company through the stock market. Say I raise like $600,000 doing that. That $600,000 is now my capital right. Where does that get classified under?

And also about depreciation of my equipment. Say I bought a printing press for my business the first year for $100,000 and it depreciates like $10,000 every year. Where do I classify on the balance sheet that deprecitiaion and why?

[Smoke]

Pics or it never happened

[NYSportsGuy210]

Also regarding the printing press example and depreciation.....if I paid $100,000 in full for the printing press then should $100,000 be added to liabilities right away. If so, then how come every year it depreciates by $10,000 I have to add that to liabilities? Isn't that adding too much already on top of the $100,000 in liabilites noted in the first place?

[RedSox88]

Yes,

Assets = Liabilities + Owners Equity

To answer the second part of your question, the depreciation you pay will be classified as accumulated depreciation on the income statement known as depreciation expense.

Just to clarrify expenses and revenues are income statement items

Assets OE and liabs are balance sheet statements

So in the depreciation example you gave me you would credit accumulated depriciation and debit the depriciation expense account.

Depreciation is not a cash item and is not treated as one.

Accumulated depreciation would be shown on the balance sheet as a contra asset ( this just means it reduces the value of the fixed assets)

Which btw your printing press is a fixed asset cause you plan to use it more than a year....


For the first part , when you sell stock you must report your capital gains. So yes the 600k is considered capital and you classify it as capital gains.

[RedSox88]

if i didnt explain it clear enough let me know and ill re-explain it

again, my company would not trust me to answer your question but i think the answer pretty much covers the question

[NYSportsGuy210]

Thanks. I get the income statement part but what about the words "debit" and "credit" How do I know what is what and when to use which?

That part always got me in Accounting 101.

[RedSox88]

yea thats a important concept to know in accounting

it stems from the double entry accounting system that is used everywhere today

just think of it like your bank statement

Say you have $500 and want to put it into your bank account

When you give your bank the 500 bucks your cash in hand goes down and your cash in bank goes up

when you lower the amount of cash you have in hand it is your credit to your bank account

and when your bank balance goes up it is a debit

again it depends what perspective you view this from from the banks perspective its the opposite way arround

but generally you talk in terms of your own perspective