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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 664 Building and equipment
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 664 Building and equipment 936 Cash 40 Interest receivable 38 Inventory 28 Land 162 Notes receivable (long-term) 482 Prepaid rent 30 Supplies 8 Trademark 46 Accounts payable $ 622 Accumulated depreciation 66 Additional paid-in capital 485 Dividends payable 28 Common stock (at par) 14 Income tax payable 48 Notes payable (long-term) 809 Retained earnings 328 Deferred revenue 34 TOTALS $ 2,434 $ 2,434 What would Symphony report as total assets? Multiple Choice $2,440 million $2,374 million $2,368 million $1,542 million
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