Walton Anviles UnAdjusted Trial Balance December 31, 2016 Account Title Cash Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Depreciation Expense - Equipment Supplies Expense Total Balance Debt Credit $ 16,900.00 17,500 2,500 1,900 23,000 $ 7,000.00 6,200.00 5,600.00 28,000.00 1,600.00 4,500 20,800.00 2,900 $ 69,200.00 $ 69,200.00 a. b. c. d. e. Unearned revenue still unearned at December 31 Prepaid rent still in force at December 31 Office supplies used Depreciation Accrued Salaries Expense at December 31 $1,800 $2,300 $1,400 $380 $210 Cash 16,900 Accounts Receivable 17,500 Prepaid Rent 1,900 Office Supplies 1,900 Equipment 23,000 Accounts Payable 6,290 Salaries Payable 210 Unearned Revenue 5,600 Accumulated Depreciation Equipment 7000 Common Stock 28,000 Retained Earnings 1,600 Dividends 4,500 Income Summary Service Revenue 20,800 Salaries Expense 2,900 Rent Expense 200 Depreciation Expense Equipment 380 Supplies Expense Account Names cash accounts recievable prepaid rent office supplies equipment Accumulated Depr. Equipment accounts payable salaries payable unearned revenue common stock retained earnings dividens service revenue salaries expence rent expence Depr. Expence equipment supplies expence total Walton Anvils Worksheet December 31, 2016 Adjustments Unadjusted Trial Balance Debit Credit $16,900 17,500 2,500 1,900 23,000 $7,000 6,200 Debit Credit 200 1,400 380 210 5,600 28,000 1,600 3,800 4,500 20,800 2,900 69,200 69,200 3,800 210 200 380 1,400 5,990 5,990 vils et 2016 Adjusted Trial Balance Debit Credit Income Statement Debit Credit 16,900 17,500 2,300 500 23,000 Balance Sheet Debit Credit 16,900 17,500 2,300 500 23,000 7,380 6,200 210 1,800 28,000 1,600 7,380 6,200 210 1,800 28,000 1,600 4,500 4,500 24,600 3,110 200 380 1,400 69,790 69,790 24,600 3,110 200 380 1,400 5,090 24,600 64,700 45,190 Journal Date Dec. Accounts and explanation 31 unearned revenue service revenue 31 supplies expence office supplies 31 Depr.expence equipment accumulated depr.equipment 31 salaries expence salaries payable 31 rent expence prepaid rent Posting Ref. Debit Credit 3,800 3,800 1,400 1,400 380 380 210 210 200 200 Cash Accounts Payable 16,900 Accounts Receivable Salaries Payable 17,500 Prepaid Rent 2,300 Office Supplies 500 Equipment 23,000 Unearned Revenue Accumulated 7380 Accounts Payable Common Stock 6,200 Salaries Payable 28,000 Retained Earnings 210 Unearned Revenue 1,800 1,600 Dividends 4,500 Income Summary Service Revenue 24,600 Salaries Expense 3,110 Rent Expense Depreciation Expense - Supplies Expense Walton Anvils Adjusted Trial Balance December 31, 2016 Account Title cash accounts recievable prepaid rent office supplies equipment accumulated Depr. Equipment accounts payable salaries payable unearned revenues common stock retained earnings dividens service revenue salaries expence rent expence Depr. Expence equipment supplies expence Total Debt Balance Credit $16,900 $17,500 $2,300 $500 $23,000 7380 6200 210 $1,800 28,000 1600 4500 24,600 3110 200 380 1400 $69,790 $69,790 Walton Anvils Income Statement Year Ended December 31, 2016 Revenue Expenses salaries expence rent expence depreciation expence supplies expence total expences Net Income Total Expense Net Income 24600 $3,110 200 380 $1,400 5090 19510 $4,500 $15,010 Walton Anvils Statement of Retained Earnings Year Ended December 31, 2016 Retained earnings, January 1, 2016 Net Income Dividends increase in retained earnings Retained earnings, December 31, 2016 Walton Balanc Decembe Ass 1600 $19,510 $4,500 Current assets: cash 15010 accounts receivable 16610 prepaid rent office supplies Total current assets Plant Assets: equipment depr. Equipment Total plant assets Total Assets Liab Current liabilities: accounts payable salaries payable unearned revenues Total current liabilites Total Liabilities Stockhold common stock retained earnings Total stockholders equity Total Libiliaties and Stockholders Equity Walton Anvils Balance Sheet December 31, 2016 Assets 16900 17500 2300 500 37,200 23000 7280 15,720 15,720 52,920 Liabilities 6,200 210 1,800 8,210 Stockholders' Equity kholders equity and Stockholders Equity 28,000 16,610 44,610 52,820 Date Dec. Journal Accounts and explanation 31 service revenue income summary 31 income summary salaries expence rent expence depr. Expence equipmet supplies expence Debit Credit 24,600 24,600 5,090 3,110 200 380 1,400 31 income summary retained earnings 16,610 retained earnings dividens 4,500 16,610 4,500 Cash Accounts Payable Accounts Receivable Salaries Payable Prepaid Rent Unearned Revenue Office Supplies Equipment Accumulated Common Stock Retained Earnings Dividends Income Summary Service Revenue Salaries Expense Rent Expense Depreciation Expense - Supplies Expense Walton Anvils Post-Closing Trial Balance December 31, 2016 Account Title cash accounts recievable prepaid rent office supplies equipment depr. Equipment accounts payable salaries payable unearned revenue common stock retained earnings Total Balance Debt Credit $ 16,900.00 17,500 2,300 500 23,000 $ 7,380.00 6,200.00 210.00 13,000.00 28,000.00 16,610.00 60,200 60,200.00 Current Ratio = Total Current Assets / Total Current Liabilities Total Current Assets Total Current Liabilities current ratio 52920 8210 6.45 A.M. Dr. Kay ENG 201 September 19 2014 The Significance of Entertainment Entertainment is an important social component of human relations and can be defined as the act of receiving or providing interesting activities for shared or individual amusement. The constructive expression and exchange of creative and original ideas is of great social consequence as people interact on a daily basis and for civilization at large. As specified in “The Evolution of Fun,” being able to utilize entertainment as a means of healthy stress release is also an important positive psychological benefit. In addition to its innumerable mental and emotional dividends, the cultural significance of entertainment practices lies in the inherent expression of beliefs and ideas help by a particular group of people, community, or nation. Accordingly, several political implications arise as a natural consequence of this connection to views and principles. The development of techniques of entertainment is one of the most informative anthropological tools in studying human history and evolution. Jonathan Agah points out that its origins can be traced from prehistory, to ancient empires of Rome and Egypt, on to Shakespearean and contemporary forms of literature and theater. As time progresses, the methods human beings choose to occupy themselves in leisure will remain a poignant glimpse into the collective social and cultural psyche. Although scientists and archeologists (textbook) state that the ability to develop language and tools is what most separates humans from animals, perhaps an even greater measure of human intelligence is the use of these two skills to development of cave art, storytelling, ceramic objects, and music. As civilization became more stratified, the innocence of early entertainment faded. With the emergence of biblical, Roman, and medieval cultures public punishment and brutality moved to the vanguard of not only entertainment, but as the predominant political tool for conquest and intimidation. While banquets, theater, and sporting events were common in these periods, what extravagance and attention surrounding them pales in comparison to that of gladiatorial brutality of the coliseum or the spectacle of the guillotine. Bearing in mind the violence of these cultural settings, the overall historical context of entertainment reveals a diverse heritage of ingenious thinkers and creators who have left a considerable legacy of literature, art, and music that continues to be enjoyed in contemporary settings (Entertainment and Punishment). Modern forms of art, sports, and musical entertainment display aspects that are uniquely specific to the current mindset with new performers and artists using innovative technology and mediums to build on established, classical works. Modernization of traditional forms of entertainment including plays and novels have found new life in film and television. Likewise, innovations in computer and telecommunications combined with the accessibility provided by advertising and social media have enabled the mass sharing of ideas and talent to audiences on a global scale. Diversity and cultural sharing have also brought a unique aesthetic to drama, literature, and music that is palatable to people of different backgrounds, nationalities, and languages. Nonetheless, despite all of the collaborative work being accomplished, the pervasive evils that often plagued the preceding eras have surfaced once more on the contemporary stage. The writer of this paper believes that unethical practices such as the exploitation of animals and people, the control and ownership of media by a select few, and disregarding of the harmful psychological effects of various forms of entertainment are an affront to the greater good of continued social progress. One consequence of the modern accessibility to people and information is the dehumanization of individuals as a means of industry and profit (textbook). Though this phenomena is rampant in several sectors of business, the entertainment trade has unique vulnerabilities to exploitation with victims including both animals and people. According to AnimalLaw.com, the instances of cruelty and sub-par living conditions for performing animals including circus and carnival acts has continued to rise in spite of activism, legal documentation, and public outcry. In recent months much media and political concern has also emerged concerning ethical treatment of student and professional athletes. In a study published by NationalPsychologist.com, unethical medical treatment, pressure to perform, and under reporting of illegal substance abuse have contributed to an increased rate of antisocial behaviors, mental, illness, and rate of suicide among elite athletes. The ethical crisis among sectors of the entertainment and sports fields can perhaps be correlated to the immense pressure for profit among team and television network owners who now represent a hand full of people who hold virtually complete financial control of television, film, and radio markets. Historically, human beings have depended on one another for social interaction, entertainment, and sharing of knowledge. By contrast, the unforeseen consequence of the modern ease of access to entertainment is the socially isolating and insulating effect of instant gratification. As new technological updates appear on the consumer landscape every few months, an increased social pressure on individuals to participate in virtual communication rather than authentic interaction with others is created. This emerging paradigm of extreme individuality is in direct opposition to the innate generosity of spirit, heroism, and cooperation that serves as the spark of human ingenuity and strength. Word Count: 725
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