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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 663 Building and equipment 921
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 663 Building and equipment 921 Cash 49 Interest receivable 40 Inventory 28 Land 154 Notes receivable (long-term) 469 Prepaid rent 28 Supplies 12 Trademark 49 Accounts payable 672 Accumulated depreciation 65 Additional paid-in capital 466 Dividends payable 20 Common stock (at par) 11 Income tax payable 57 806 Notes payable (long-term) Retained earnings Deferred revenue TOTALS What would Symphony report as total shareholders' equity? 291 25 2,413 2,413 Multiple Choice $768 millions. $1,574 millions. $788 millions. $748 millions
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