Question
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 678 Building and equipment
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 678 Building and equipment 928 Cash 47 Interest receivable 50 Inventory 35 Land 153 Notes receivable (long-term) 451 Prepaid rent 35 Supplies 9 Trademark 58 Accounts payable $ 626 Accumulated depreciation 77 Additional paid-in capital 485 Dividends payable 27 Common stock (at par) 14 Income tax payable 46 Notes payable (long-term) 820 Retained earnings 325 Deferred revenue 24 TOTALS $ 2,444 $ 2,444
What would Symphony report as total shareholders' equity?
Multiple Choice
$851 million
$797 million
$824 million
$1,644 million
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