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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade 695 Building and equipment 920
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable-trade | 695 | |||
Building and equipment | 920 | |||
Cash-checking | 47 | |||
Interest receivable | 34 | |||
Inventory | 31 | |||
Land | 161 | |||
Notes receivable (long-term) | 479 | |||
Petty cash fund | 10 | |||
Prepaid rent | 30 | |||
Supplies | 9 | |||
Trademark | 59 | |||
Accounts payable-trade | 630 | |||
Accumulated depreciation | 78 | |||
Additional paid-in capital | 473 | |||
Allowance for uncollectible accounts | 16 | |||
Cash dividends payable | 30 | |||
Common stock, at par | 11 | |||
Income tax payable | 59 | |||
Notes payable (long-term) | 840 | |||
Retained earnings | 313 | |||
Deferred revenues | 25 | |||
TOTALS | 2,475 | 2,475 | ||
What would Symphony report as total shareholders' equity?
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