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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 672 Building and equipment 936
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable | 672 | |||
Building and equipment | 936 | |||
Cash | 47 | |||
Interest receivable | 45 | |||
Inventory | 30 | |||
Land | 160 | |||
Notes receivable (long-term) | 469 | |||
Prepaid rent | 33 | |||
Supplies | 12 | |||
Trademark | 58 | |||
Accounts payable | 669 | |||
Accumulated depreciation | 78 | |||
Additional paid-in capital | 466 | |||
Dividends payable | 22 | |||
Common stock (at par) | 13 | |||
Income tax payable | 64 | |||
Notes payable (long-term) | 820 | |||
Retained earnings | 303 | |||
Deferred revenue | 27 | |||
TOTALS | 2,462 | 2,462 | ||
What would Symphony report as total assets?
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