6 Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 663 Building and equipment 931 Cash 49 01:49:34 Interest receivable 48 Inventory 21 Land 162 Notes receivable (long-term) 489 Prepaid rent 30 Supplies 11 Trademark 47 Accounts payable $ 669 Accumulated depreciation 63 Additional paid-in capital 472 Dividends payable 25 Common stock (at par) 14 Income tax payable 60 Notes payable (long-term) 798 Retained earnings Deferred revenue 313 37 TOTALS $ 2,451 $ 2,451 What would Symphony report as total assets? Multiple Choice $1,575 million $2,459 million $2,388 million $2,396 million

6 Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable $ 663 Building and equipment 931 Cash 49 01:49:34 Interest receivable 48 Inventory 21 Land 162 Notes receivable (long-term) 489 Prepaid rent 30 Supplies 11 Trademark 47 Accounts payable $ 669 Accumulated depreciation 63 Additional paid-in capital 472 Dividends payable 25 Common stock (at par) 14 Income tax payable 60 Notes payable (long-term) 798 Retained earnings Deferred revenue 313 37 TOTALS $ 2,451 $ 2,451 What would Symphony report as total assets? Multiple Choice $1,575 million $2,459 million $2,388 million $2,396 million

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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