g Listed below are year-end account balances ($ in millions) taken from the records of Symphony Stores. Debit Credit Accounts receivable710 Building and equipment920 Cash39 Interest receivable30 Inventory16 Land150 Notes receivable (long-term)450 Prepaid rent20 Supplies8 Trademark40 Accounts payable 560 Accumulated depreciation 80 Additional paid-in capital 485 Dividends payable 30 Common stock (at par) 15 Income tax payable 65 Notes payable (long-term) 800 Retained earnings 308 Deferred revenue 40 TOTALS2,383 2,383 What would Symphony report as total current assets

Respuesta :

Answer: $823 million

Explanation:

Current Assets are those that the company expects to have only for a year or less as they will either be sold or used.

The Current Assets in the list are;

= Accounts receivable + Cash + Interest Receivable + Inventory + Prepaid rent + Supplies

= 710 + 39 + 30 + 16 + 20 + 8

= $823 million