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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 684 Building and equipment 921 Cash-checking

Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.

Debit Credit
Accounts receivable-trade 684
Building and equipment 921
Cash-checking 35
Interest receivable 34
Inventory 22
Land 161
Notes receivable (long-term) 454
Petty cash fund 6
Prepaid rent 35
Supplies 10
Trademark 43
Accounts payable-trade 585
Accumulated depreciation 75
Additional paid-in capital 471
Allowance for uncollectible accounts 20
Cash dividends payable 28
Common stock, at par 12
Income tax payable 54
Notes payable (long-term) 831
Retained earnings 293
Deferred revenues 36
TOTALS

2,405

2,405

What would Symphony report as total shareholders' equity?

Multiple Choice

  • $804 millions.

  • $776 millions.

  • $748 millions.

  • $1,607 millions.

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