Question: Listed below are year - end account balances ( in $millions ) taken from the records of Symphony Stores. Debit Credit Accounts receivable trade 7

Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.
Debit
Credit
Accounts receivabletrade
730
Building and equipment
920
Cashchecking
34
Interest receivable
30
Inventory
16
Land
150
Notes receivable (long-term)
450
Petty cash fund
5
Prepaid rent
20
Supplies
8
Trademark
40
Accounts payabletrade
560
Accumulated depreciation
80
Additional paid-in capital
485
Allowance for uncollectible accounts
20
Cash dividends payable
30
Common stock, at par
15
Income tax payable
65
Notes payable (long-term)
800
Retained earnings
308
Deferred revenues
40
_____
_____
TOTALS
2,403
2,403
17.. What would Symphony report as total current assets?
a. $823.
b. $838.
c. $843.
d. $1,696.
18.. What would Symphony report as total assets?
a. $2,338.
b. $2,323.
c. $2,318.
d. $2,303.
19.. What would Symphony report as total shareholders' equity?
a. $323.
b. $808.
c. $838.
d. $928.
5
20... What is the amount of working capital for Symphony?
a. $ 98.
b. $143.
c. $128.
d. $113.

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