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Listed below are year-end account balances ($ in millions) taken from the records of Kingsley Enterprises. Debit Credit Accounts receivable 672 Building and equipment 937
Listed below are year-end account balances ($ in millions) taken from the records of Kingsley Enterprises.
Debit | Credit | |||
Accounts receivable | 672 | |||
Building and equipment | 937 | |||
Cash | 54 | |||
Interest receivable | 35 | |||
Inventory | 27 | |||
Land | 158 | |||
Notes receivable (long-term) | 483 | |||
Prepaid rent | 36 | |||
Supplies | 9 | |||
Trademark | 53 | |||
Accounts payable | 628 | |||
Accumulated depreciation | 68 | |||
Additional paid-in capital | 484 | |||
Dividends payable | 22 | |||
Common stock (at par) | 17 | |||
Income tax payable | 57 | |||
Notes payable (long-term) | 834 | |||
Retained earnings | 323 | |||
Deferred revenue | 31 | |||
TOTALS | 2,464 | 2,464 | ||
What would Kingsley report as total current assets?
rev: 10_03_2019_QC_CS-183825
Multiple Choice
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$848 millions.
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$833 millions.
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$1,706 millions.
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$873 millions.
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