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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 679 Building and equipment 922
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable | 679 | |||
Building and equipment | 922 | |||
Cash | 54 | |||
Interest receivable | 35 | |||
Inventory | 18 | |||
Land | 151 | |||
Notes receivable (long-term) | 488 | |||
Prepaid rent | 27 | |||
Supplies | 9 | |||
Trademark | 51 | |||
Accounts payable | 688 | |||
Accumulated depreciation | 65 | |||
Additional paid-in capital | 477 | |||
Dividends payable | 21 | |||
Common stock (at par) | 15 | |||
Income tax payable | 45 | |||
Notes payable (long-term) | 806 | |||
Retained earnings | 281 | |||
Deferred revenue | 36 | |||
TOTALS | 2,434 | 2,434 | ||
What would Symphony report as total shareholders' equity?
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