isted below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 678 Building and equipment 939 Cash 49 Interest receivable 33 Inventory 21 Land 155 Notes receivable (long-term) 476 Prepaid rent 23 Supplies 12 Trademark 40 Accounts payable 613 Accumulated depreciation 70 Additional paid-in capital 481 Dividends payable 21 Common stock (at par) 13 Income tax payable 59 Notes payable (long-term) 839 Retained earnings 294 Deferred revenue 36 TOTALS 2,426 2,426 What would Symphony report as total shareholders' equity

Franklin painting company is considering whether to purchase a new spray paint machine that costs $4,800. the machine is expected to save labor, increasing net income by $720 per year. the effective life of the machine is 15 years according to the manufacturer’s estimate. required determine the unadjusted rate of return based on the average cost of the investment.

Which of the following statements is true? a job costing system will have a separate work in process account for each of the major processes. a process costing system will have a single work in process account. a process costing system will have a separate raw materials account for each of the major processes. a process costing system will have a separate work in process account for each of the major processes.

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.