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Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 661 Building and equipment
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |
---|---|---|
Accounts receivable | $ 661 | |
Building and equipment | 922 | |
Cash | 50 | |
Interest receivable | 44 | |
Inventory | 23 | |
Land | 155 | |
Notes receivable (long-term) | 492 | |
Prepaid rent | 24 | |
Supplies | 11 | |
Trademark | 53 | |
Accounts payable | $ 638 | |
Accumulated depreciation | 64 | |
Additional paid-in capital | 474 | |
Dividends payable | 26 | |
Common stock (at par) | 14 | |
Income tax payable | 60 | |
Notes payable (long-term) | 820 | |
Retained earnings | 310 | |
Deferred revenue | 29 | |
TOTALS | $ 2,435 | $ 2,435 |
What would Symphony report as total shareholders' equity?
Multiple Choice
$1,618 million
$772 million
$824 million
$798 million
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