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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. What would Symphony report as total assets? Credit Debit
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
What would Symphony report as total assets?
Credit Debit 678 922 Accounts receivable Building and equipment Cash Interest receivable Inventory Land Notes receivable (long-term) Prepaid rent Supplies Trademark Accounts payable Accumulated depreciation Additional paid-in capital Dividends payable Common stock (at par) Income tax payable Notes payable (long-term) Retained earnings Deferred revenue TOTALS 705 64 481 14 798 292 29 2,458 2,458Step by Step Solution
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