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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

  • $848 millions.

  • $833 millions.

  • $1,706 millions.

  • $873 millions.

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