Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit Credit
Accounts receivable 676
Building and equipment 931
Cash 40
Interest receivable 33
Inventory 25
Land 150
Notes receivable (long-term) 495
Prepaid rent 26
Supplies 12
Trademark 44
Accounts payable 563
Accumulated depreciation 76
Additional paid-in capital 483
Dividends payable 21
Common stock (at par) 19
Income tax payable 47
Notes payable (long-term) 889
Retained earnings 296
Deferred revenue 38
TOTALS 2,432 2,432

What would Symphony report as total current assets?

a) $827 millions. b) $812 millions. c) $1,685 millions. d) $852 millions.

Jewelry manufacturers produce a range of products such as rings, necklaces, bracelets, and brooches. what fundamental economic question are they addressing by offering this range of items?

Bandar industries berhad of malaysia manufactures sporting equipment. one of the company’s products, a football helmet for the north american market, requires a special plastic. during the quarter ending june 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. the plastic cost the company $171,000. according to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. 1. what is the standard quantity of kilograms of plastic (sq) that is allowed to make 35,000 helmets? 2. what is the standard materials cost allowed (sq x sp) to make 35,000 helmets? 3. what is the materials spending variance? 4. what is the materials price variance and the materials quantity variance?

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.