Womack Corporation ended its fiscal year on September 30, 2021, with cash of $72 million, $21 million, property and equipment of $30 million, and other long-term assets of $20 million. The company's liabilities consist of accounts payable of $35 million and long-term notes payable of $16 million Womack Corporation has total stockholders' equity of $92 million, of this total, common stock is $30 million. Solve for the company's ending retained earnings and then prepare Womack Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Now prepare Womack Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Start with the heading and then complete the assets section of the statement. Finally, complete the liabilities and stockholders' equity section of the statement. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If an input field is not used in the table leave the field empty, do not select a label or enter a zero.) Current assets: Assets Womack Corporation Balance Sheet September 30, 2021 (in millions)

Womack Corporation ended its fiscal year on September 30, 2021, with cash of $72 million, $21 million, property and equipment of $30 million, and other long-term assets of $20 million. The company's liabilities consist of accounts payable of $35 million and long-term notes payable of $16 million Womack Corporation has total stockholders' equity of $92 million, of this total, common stock is $30 million. Solve for the company's ending retained earnings and then prepare Womack Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Now prepare Womack Corporation's balance sheet at September 30, 2021. Use a proper heading on the balance sheet. Start with the heading and then complete the assets section of the statement. Finally, complete the liabilities and stockholders' equity section of the statement. (Enter all amounts in millions. Classify the balance sheet by selecting the proper title on all applicable subtotal or total lines. If an input field is not used in the table leave the field empty, do not select a label or enter a zero.) Current assets: Assets Womack Corporation Balance Sheet September 30, 2021 (in millions)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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