Question
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. DebitCreditAccounts receivable664Building and equipment939Cash50Interest receivable33Inventory22Land158Notes receivable (long-term)472Prepaid rent28Supplies10Trademark52Accounts payable568Accumulated
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
DebitCreditAccounts receivable664Building and equipment939Cash50Interest receivable33Inventory22Land158Notes receivable (long-term)472Prepaid rent28Supplies10Trademark52Accounts payable568Accumulated depreciation69Additional paid-in capital469Dividends payable23Common stock (at par)18Income tax payable57Notes payable (long-term)881Retained earnings312Deferred revenue31TOTALS2,4282,428
What would Symphony report as total current assets?
rev: 10_03_2019_QC_CS-183825
Multiple Choice
- $807 millions.
- $847 millions.
- $1,680 millions.
- $822 millions.
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Accounting Information Systems
Authors: Pat Wheeler, Ulric J Gelinas, Richard B Dull
9th Edition
0538469315, 9780538469319
