HW Ch2 & CH3

Question 29

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 677 Building and equipment 927 Cash 56 Interest receivable 42 Inventory 28 Land 152 Notes receivable (long-term) 470 Prepaid rent 27 Supplies 12 Trademark 44 Accounts payable 559 Accumulated depreciation 71 Additional paid-in capital 473 Dividends payable 28 Common stock (at par) 13 Income tax payable 59 Notes payable (long-term) 893 Retained earnings 308 Deferred revenue 31 TOTALS 2,435 2,435 What is the amount of working capital for Symphony? Multiple Choice $152 millions. $180 millions. $123 millions. $165 millions