Summary: Grant Films Productions

What were Edwin S. Porter's significant contributions to the development of early narrative film? In what sense did Porter build upon the innovations of contemporaneous filmmakers, and for what purposes?

| (TCO 2) Transaction analysis results in the development of a journal entry. In the start-up of a business, the owner contributes $750,000 of cash. (1) Name the accounts impacted and how to use the format account name/debit or credit/dollar amount (10 points), and (2) explain how the Accounting Equation is impacted. (10 points)

Objective: Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.

When I read two essays, I honestly having a hard time consider to be the main thesis of each of the essays. The authors kept writing back and forth that lead me to confuse about the essays. In Maggie Paley's "Terry Southern: The Art of Screenwriting, by Interview", the author interviewed the screenwriter about his experiences. I believe the thesis will be: Terry Southern is a person who have an interesting past, wrote alot of plays, and had alot of experiences in the plays. I honestly can't find the right thesis because the author wrote everything unorganized, but I can see that he wrote alot of plays and told her that writing a book is different from writing a screenplay. He tolfd that he love movies and it is easy from him to write a screenplay.

Assume that interest in a new basis for cost accounting at Destin Brass Products remains high. In the following month, quantities produced and sold, activities, and costs were all at standard. How much higher or lower would the net income reported under the activity-transaction-based system be than the net income that will be reported under the present, more traditional system? Why?

Made in Hollywood: Teen Edition is a nationally syndicated, Emmy-nominated, educational TV series that introduces its viewers to careers on camera and behind the camera. By interviewing leaders in these fields the viewers are able to gain career advice as well as insights into these career paths. It aims to give viewers, which is targeted at 13-16 year olds, a better understanding of the motion picture, television and entertainment fields and explores career opportunities that focus on creative, technical and artistic skills. Started in 2006 and is now going into its 11th season.

When the client had shown interest in the $35,000 worth of products, the original transaction would have been a debit to revenues and a credit to accounts payable. To adjust this transaction, since the client has not made a commitment, revenues would decrease the $35,000 as well as accounts payable being decreased $35,000. For the income statement adjustment, the revenues would be $35,000 less, resulting in $370,500 in revenues instead of the $406,000.

Chapter seventeen is about Hollywood in the 21st century . This chapter describes the advanced movies, such as animated ones, like Dawn of the Planet of the Apes . I find it very interesting how these films started from no sound at all or color to being able to see such vibrant colors and sound effects and quality that makes you feel as if you're there in the film. I enjoyed reading about this chapter because it's amazing how far technology has advanced, and to know that there's so much more to come is unbelievable, and I simply can't wait.

The movie starts out in 1860 before the Civil war. It jumps into the beginnings of Slavery coming to America before getting into the Civil War battle. The story is told on behalf of two families who seem to be in an aristocracy. Their servants have a major role in this movie, which demonstrates major racial stereotypes. It seems that the slaves and their abolitionist supporters are the generators of a demolished nation.

The new revenue recognition standard changes transaction and industry-specific guidance to a principle-based approach. The main point is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchanging for those goods or services [2]. This new standard has five steps need to be followed. The first one is to identify the contract(s) with a customer. Then entity should identify the performance obligations in the contract. After that, an entity needs to make a decision about the transaction price and to allocate this price to the performance obligations in the contract. At last, the entity recognizes revenue when it satisfies a performance obligation. For the first step, there are some requirements the contract has to meet, like identify the right of parties and payment terms. But the old rule only provides limited disclosure information about revenue contract [3]. In some cases, an entity will combine several contracts as one contract. Also, FASB issued the guidance that helps an entity to modify its contract. Here is a concept for the second step. A good or service can be recognized

Cash- Business reason: Acquired a loan during the period to obtain cash; Client error: Not properly recording all expenses paid in cash

For the pattern of the most common revenue fraud schemes, they usually record transactions by special selection. They record transactions like fictitious sales, recognizing revenues too early, overstating real sales, understating the allowance for doubtful accounts and bank transfers as cash received from customers. However, they neglect records like returned goods from customers, not writing off uncollectible receivables, writing off uncollectible receivables in later periods and discounts given to customers.

CBS guidelines – The shoot is doing its best to adhere to CBS guidelines. Most obviously, it’s two shorts both of which are under 15 minutes. Nobody is getting paid, although some people are getting a drastically discounted rate for gear and Per Diem. I do have a few professionals on board, but nobody union and since they aren’t getting paid who is to say they are professionals… Hopefully not CBS. As far as using licensed product, ain't nobody got the cash for that, but I can hopefully borrow a tricorder and such from you. All other items will be of original design and not markedly available.

The process of recording and posting the effects of business transaction is done in a double entry t-form. The total dollar amount of debits must equal the total dollar amount of credits, with debits to the left and account credit to the right. Broken down, Assets = Liabilities + Stakeholder Equity. “Since debits increase assets, expense, and dividend accounts, they normally have debit balances. Conversely, because credits increase liability, capital stock, retained earnings, and revenue accounts, they normally have credit balances.”( Edwards, J. D., Hermanson, R.H., & Maher, M. W. (2011). p.84)

Lawsons 2010 and 2011 current ratio are above the industry average (1.8:1) however in 2012 the current ratio falls below the industry average at 1.55:1 and than again in 2013 to 1.02:1. This indicates that the company’s ability to pay its debts is