Question
Listed below is information from the records of Symphony Stores (in millions) before closing entries . Cash $ 24 Accounts Receivable 9 Inventory 4 Rent
Listed below is information from the records of Symphony Stores (in millions) before closing entries.
| Cash | $ | 24 | |
| Accounts Receivable | 9 | ||
| Inventory | 4 | ||
| Rent expense | 9 | ||
| Equipment | 130 | ||
| Service revenue | 60 | ||
| Selling and general expenses | 40 | ||
| Dividends | 6 | ||
| Accounts payable | 10 | ||
| Common stock | 136 | ||
| Retained earnings | 16 | ||
What is the amount of total shareholders equity?
Multiple Choice
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$157 million.
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$21 million.
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$152 million.
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$137 million.
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
978-0538480895
