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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 674 Building and equipment
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 674 Building and equipment 931 Cash 45 Interest receivable 36 Inventory 17 Land 165 Notes receivable (long-term) 458 Prepaid rent 27 Supplies 11 Trademark 60 Accounts payable $ 640 Accumulated depreciation 65 Additional paid-in capital 483 Dividends payable 23 Common stock (at par) 12 Income tax payable 54 Notes payable (long-term) 816 Retained earnings 295 Deferred revenue 36 TOTALS $ 2,424 $ 2,424 What would Symphony report as total shareholders' equity? Multiple Choice $767 million $813 million $1,606 million $790 million
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