Listed below are account balances (in $ millions) taken from the records of Symphony Stores. All of.
- March 05, 2021/ Questions
Listed below are account balances (in $ millions) 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 684 Building and equipment 929 Cash-checking 51 Installment receivables 59 Interest receivable 35 Inventory 28 Land 166 Notes receivable Long-term 472 Petty cash funds 7 Prepaid expenses (for coming year) 24 Supplies 11 Trademark 44 Accounts payable-trade 543 Accumulated depreciation 73 Additional paid-in capital, common 473 Allowance for uncollectible accounts 16 Cash dividends payable 22 Common stock, at par 11 Income tax payable 47 Notes payable (long-term) 594 Retained earnings 43 Unearned revenues 28 Cash dividends declared-common 126 Income summary 786 TOTALS 2,636 2,636 What is the amount of working capital for Symphony? $232. $208. $258. $243.