The Ryan Express, provider of tax services, starts operations on 1/1/17. Now that the company has been in business for more than a year, the controller is assembling financial statements for the year ended 12/31/17. During 2017, the following transactions took place: 1. On January 1, 2017, shareholders paid $1,000,000 in cash for common stock. 2. Ryan Express earned revenue of $500,000 which increased Accounts Receivable (not cash). 3. Ryan Express paid $125,000 in salaries expense. 4. Ryan Express paid $75,000 in rent expense. 5. Ryan Express bought $25,000 of supplies but did not pay cash, so this increased Accounts Payable.6. Ryan Express paid $10,000 in travel expense. 7. Clients paid Ryan Express cash of $400,000 for transaction

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.