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What is the amount of working capital for Symphony

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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 692;Building and equipment 928;Cash-checking 52;Installment receivables 69;Interest receivable 50;Inventory 21;Land 169;Notes receivable Long-term 621;Petty cash funds 8;Prepaid expenses (for coming year) 27;Supplies 12;Trademark 42;Accounts payable-trade 541;Accumulated depreciation 70;Additional paid-in capital, common 476;Allowance for uncollectible accounts 19;Cash dividends payable 21;Common stock, at par 12;Income tax payable 48;Notes payable (long-term) 596;Retained earnings 37;Unearned revenues 22;Cash dividends declared-common 134;Income summary;983;TOTALS;2,825;2,825;What is the amount of working capital for Symphony?;$268.;$295.;$280.;$230.

 

Paper#24393 | Written in 18-Jul-2015

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