Business, 25.03.2020 00:28 Justadumbemo

Listed below are account balances (in millions of dollars) taken from the records of Symphony Stores. All of these are permanent accounts, except the last two that have yet to be closed. The installment receivables are current. Symphony uses a perpetual inventory system.

Debit Credit
Accounts receivable-trade 680
Building and equipment 920
Cash-checking 34
Installment receivables 50
Interest receivable 30
Inventory 16
Land 150
Note receivable (long-term) 450
Petty cash funds 5
Prepaid expenses (for coming year) 20
Supplies 8
Trademark 40
Accounts payable-trade 560
Accumulated depreciation 80
Additional paid-in capital, common 485
Allowance for uncollectable accounts 20
Cash dividends payable 30
Common stock, at par 15
Income tax payable 65
Notes payable (long-term) 800
Retained earnings 48
Unearned revenues 40
Cash dividends declared-common 120
Income summary 380
TOTALS 2523 2523

Required:
What would Symphony report as total shareholders' equity?

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Listed below are account balances (in millions of dollars) taken from the records of Symphony Stores...

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