HW CH2 & CH3

Question 32

Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Credit Debit 674 929 44 49 23 154 455 21 9 43 Accounts receivable Building and equipment Cash Interest receivable Inventory Land Notes receivable (long-term) Prepaid rent Supplies Trademark Accounts payable Accumulated depreciation Additional paid-in capital Dividends payable Common stock (at par) Income tax payable Notes payable (long-term) Retained earnings Deferred revenue TOTALS 596 78 470 28 12 53 830 298 36 2,401 2,401 What would Symphony report as total shareholders' equity? Multiple Choice $808 millions. C $1,610 millions $752 millions. O $780 millions. O