1/ Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores.
Debit | Credit | |||
Accounts receivable-trade | 691 | |||
Building and equipment | 939 | |||
Cash-checking | 39 | |||
Interest receivable | 42 | |||
Inventory | 32 | |||
Land | 155 | |||
Notes receivable (long-term) | 493 | |||
Petty cash fund | 7 | |||
Prepaid rent | 35 | |||
Supplies | 9 | |||
Trademark | 49 | |||
Accounts payable-trade | 672 | |||
Accumulated depreciation | 60 | |||
Additional paid-in capital | 471 | |||
Allowance for uncollectible accounts | 18 | |||
Cash dividends payable | 23 | |||
Common stock, at par | 13 | |||
Income tax payable | 56 | |||
Notes payable (long-term) | 839 | |||
Retained earnings | 318 | |||
Deferred revenues | 21 | |||
TOTALS | 2,491 | 2,491 | ||
What would Symphony report as total assets?
Multiple Choice
$1,574 millions.
$2,431 millions.
$2,491 millions.
$2,413 millions.
2/ The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.
Assets | Liabilities and Equity | ||||||
Current assets: | Current liabilities: | ||||||
Cash | $ | 67 | Accounts payable | $ | 234 | ||
Accounts receivable (net) | 188 | Other liabilities | 73 | ||||
Notes receivable | 59 | Total current liabilities | 307 | ||||
Inventories | 206 | Long-term liabilities | 95 | ||||
Prepaid expenses | 36 | Total liabilities | 402 | ||||
Total current assets | 556 | Shareholders' equity: | |||||
Plant assets (net) | 268 | Capital stock | 132 | ||||
Retained earnings | 290 | ||||||
Total shareholders' equity | 422 | ||||||
Total assets | $ | 824 | Total liabilities and equity | $ | 824 | ||
Working capital is:
Multiple Choice
$322 thousand.
$249 thousand.
$154 thousand.
$556 thousand.
1/ Listed below are year-end account balances ($ in millions) taken from the records of Symphony...
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable-trade 695 Building and equipment 920 Cash-checking 47 Interest receivable 34 Inventory 31 Land 161 Notes receivable (long-term) 479 Petty cash fund 10 Prepaid rent 30 Supplies 9 Trademark 59 Accounts payable-trade 630 Accumulated depreciation 78 Additional paid-in capital 473 Allowance for uncollectible accounts 16 Cash dividends payable 30 Common stock, at par 11 Income tax payable 59 Notes payable (long-term)...
Listed below are year-end account balances ($ In millions) taken from the records of Symphony Stores. 27 Debit Credit Accounts receivable 710 Building and equipment 920 Cash 39 3.34 Interest receivable 30 points Inventory 16 Land 150 8 00:59:15 Notes receivable (long-term) 450 Prepaid rent Supplies 20 Trademark 40 Accounts payable Accumulated depreciation Additional paid-in capital Dividends payable Common stock (at par) Income tax payable Notes payable (long-term) 560 80 485 30 15 65 800 Retained earnings 308 Deferred revenue...
Q28 Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 663 Building and equipment 932 Cash 54 Interest receivable 39 Inventory 32 Land 164 Notes receivable (long-term) 470 Prepaid rent 25 Supplies 12 Trademark 43 Accounts payable 631 Accumulated depreciation 78 Additional paid-in capital 484 Dividends payable 28 Common stock (at par) 16 Income tax payable 52 Notes payable (long-term) 813 Retained earnings 309 Deferred revenue 23 TOTALS 2,434...
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 679 Building and equipment 922 Cash 50 Interest receivable 34 Inventory 20 Land 161 Notes receivable (long-term) 499 Prepaid rent 37 Supplies 8 Trademark 42 Accounts payable 656 Accumulated depreciation 76 Additional paid-in capital 467 Dividends payable 29 Common stock (at par) 11 Income tax payable 57 Notes payable (long-term) 841 Retained earnings 294 Deferred revenue 21 TOTALS 2,452 2,452...
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable 676 Building and equipment 925 Cash 51 Interest receivable 49 Inventory 29 Land 168 Notes receivable (long-term) 459 Prepaid rent 36 Supplies 9 Trademark 60 Accounts payable 705 Accumulated depreciation 66 Additional paid-in capital 481 Dividends payable 24 Common stock (at par) 11 Income tax payable 59 Notes payable (long-term) 788 Retained earnings 302 Deferred revenue 26 TOTALS 2,462 2,462...
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Credit Accounts receivable Building and equipment Cash Inventory Land Notes receivable (long-term) Prepaid rent Supplies Trademark Accounts payable Accumulated depreciation Salaries payable Common stock Income tax payable Notes payable (long-term) Retained earnings Deferred revenue Debit 712 920 48 51 150 450 24 10 40 590 80 21 500 74 800 308 32 Symphony's total current assets would be: (Do not add dollar sign do...
What would Symphony report as total shareholders'
equity?
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Credit Debit 678 925 46 38 36 157 472 10 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 627 68 474 29 11...
Quiz 1 A Saved Listed below are year-end account balances ($ In millions) taken from the records of Symphony Stores. 30 Credit Debit 674 923 42 3.34 points 8 00:24:36 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 644 61 474 20 852 312 2,454 2,454 What...
Is the correct answer 808
million?
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores Debit Credit 710 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 560 80 485 30 800 308 2,383 2,383 What would Symphony report as total...
What would Symphony report as total assets?
Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Credit Debit 666 939 59 34 32 152 488 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 708 63 480 13 54 811 287 27...