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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade 723 Building and equipment 925
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable-trade | 723 | |||
Building and equipment | 925 | |||
Cash-checking | 34 | |||
Interest receivable | 50 | |||
Inventory | 20 | |||
Land | 153 | |||
Notes receivable (long-term) | 471 | |||
Petty cash funds | 8 | |||
Prepaid rent | 23 | |||
Supplies | 12 | |||
Trademark | 50 | |||
Accounts payable-trade | 596 | |||
Accumulated depreciation | 72 | |||
Additional paid-in capital | 474 | |||
Allowance for uncollectible accounts | 17 | |||
Cash dividends payable | 24 | |||
Common stock, at par | 12 | |||
Income tax payable | 53 | |||
Notes payable (long-term) | 881 | |||
Retained earnings | 315 | |||
Deferred revenues | 25 | |||
TOTALS | 2,469 | 2,469 | ||
What is the amount of working capital for Symphony?
Multiple Choice
$170 millions.
$143 millions.
$155 millions.
$105 millions.
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