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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 730 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 730 Building and equipment 920 Cash-checking 34 Interest receivable 30 Inventory 16 Land 150 Notes receivable (long-term) 450 Petty cash fund 5 Prepaid rent 20 8 Supplies Trademark 40 560 Accounts payable-trade Accumulated depreciation 80 Additional paid-in capital 485 Allowance for uncollectible accounts 20 Cash dividends payable 30 Common stock, at par 15 65 Income tax payable Notes payable (long-term) 800 Retained earnings 308 Deferred revenues 40 TOTALS 2,403 2,403 What would Symphony report as total shareholders' equity? $323 millions. O a. $808 millions. Ob. $838 millions. O c. $928 millions. O d
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