TB MC Qu. 3-53 (Algo) Listed below are year-end account balances... Listed below are year-end account...

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TB MC Qu. 3-53 (Algo) Listed below are year-end account balances... Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 676 Building and equipment 930 Cash 40 Interest receivable 38 Inventory 17 Land 164 Notes receivable (long-term) 462 Prepaid rent 35 Supplies 10 Trademark 60 Accounts payable $ 591 Common stock (at par) Accumulated depreciation Additional paid-in capital Dividends payable Income tax payable Notes payable (long-term) Retained earnings Deferred revenue TOTALS $ 2,432 $ 2,432 What would Symphony report as total shareholders' equity? 66 482 24 11 50 847 329 32 TB MC Qu. 3-53 (Algo) Listed below are year-end account balances... Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 676 Building and equipment 930 Cash 40 Interest receivable 38 Inventory 17 Land 164 Notes receivable (long-term) 462 Prepaid rent 35 Supplies 10 Trademark 60 Accounts payable $ 591 Common stock (at par) Accumulated depreciation Additional paid-in capital Dividends payable Income tax payable Notes payable (long-term) Retained earnings Deferred revenue TOTALS $ 2,432 $ 2,432 What would Symphony report as total shareholders' equity? 66 482 24 11 50 847 329 32

Answer rating: 100% (QA)

To determine the total shareholders equity we need t... View the full answer