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Copy of Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade Building and equipment
Copy of Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade Building and equipment Cash-checking 730 920 34 Interest receivable 30 Inventory 16 Land 150 Notes receivable (long-term) 450 Petty cash fund 5 Prepaid rent 20 Supplies: Trademark 40 Accounts payable-trade 560 Accumulated depreciation 80 Additional paid-in capital Allowance for uncollectible accounts Cash dividends payable 485 20 30 Common stock, at par 15 Income tax payable 65 Notes payable (long-term) 800 Retained earnings 308 Deferred revenues 40 TOTALS 2,403 2,403 What would Symphony report as total shareholders' equity? $838 million Question Completion Status: Accumulated depreciation 80 Additional paid-in capital 485 Allowance for uncollectible accounts 20 Cash dividends payable 30 Common stock, at par 15 Income tax payable Notes payable (long-term) Retained earnings 65 800 308 Deferred revenues 40 TOTALS 2,403 2,403 What would Symphony report as total shareholders' equity? $838 million $928 millions $323 million $808 million
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