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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Accounts receivable Debit 671 Credit Building and equipment
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Accounts receivable Debit 671 Credit Building and equipment 925 Cash 44 Interest receivable 31 Inventory 30 Land 150 Notes receivable (long-term) 469 Prepaid rent 38 Supplies 8 Trademark 48 Accounts payable 645 Accumulated depreciation 63 Additional paid-in capital 466 Dividends payable 26 Common stock (at par) 14 Income tax payable 61 Notes payable (long-term) 819 Retained earnings 293 Deferred revenue TOTALS 27 2,414 2,414 What would Symphony report as total assets? Multiple Choice $2,357 millions. $2,351 millions. $1,513 millions. $2,420 millions.
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