Question

S1-14 (similar to) Assigned Media Question Help At December 31, 2018, Wave Corporation has cash of $56 million accounts receivable of 522 million and long-term of 543 milion. The company was uns payable of 18 Wave has common stock of $20 million and retained earings of $38 min. Prepare Wave Corporatior's balance sheet December 31, 2016. complete with his proper heading and has a long term nahe payable of $35 milion Start with the heading and then complete the section of the statement and finally complete the abilites and stockholders egy section of the statement Enterall amount in millions Classify the lance sheet by selecting the proper ile on all applicable subtotal lines. In the first part complete the section of the balance sheet. In the second part complete the abilities and stockholders equily section of the balance sheet abonosed in the table leave the box amply, do not select a label or enter a zero)

Answer 1

Ans.	WAVE   CORPORATION
	Balance Sheet   (in millions)
	December 31 2018
	Assets
	Current assets :
	Cash	$55
	Accounts receivables	$22
	Total current assets		$77
	Non current assets:
	Long term assets	$43
	Total non current assets		$43
	Total Assets		$120
	Liabilities and Stockholder's Equity
	Current liabilities :
	Accounts payable	$18
	Long term debt:
	Notes payable	$35
	Total Liabilities		$53
	Stockholder's equity :
	Common stock	$29
	Retained earnings	$38
	Total Stockholder's Equity		$67
	Total Liabilities and Stockholder's Equity		$120