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Finished Goods Accounts Payable Accounts Receivable Accrued Pension Cost $20,900 15,300 13,300 32,400 23,800 8,900 $ 500 16,400 17,000 57,800 8,400 5,000 8,600 30,000 2,600 10,100 28,100 5,000 2,700 14,700 Income Taxes Payable Interest Payable Investment in Available-for-Sale Securities Accumulated Depreciation: Buildings Accumulated Depreciation: Machinery and Equipment 30,000 Land Accumulated Other Comprehensive Income Additional Paid-In Capital on Common Stock Additional Paid-In Capital on Preferred Stock Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable (due 2027) Buildings Cash Common Stock, $10 par Deferred Taxes Payable Discount on Bonds Payable Dividends Payable 2,000 Machinery and Equipment 16,300 Marketable Securities (short-term) 7,000 Notes Payable (short-term) 1,000 Patents (net) 7,700 Preferred Stock, $100 par 29,000 92,500 Raw Materials 7,200 44,100 2,800 2,500 5,600 Prepaid Insurance Retained Earnings Unearned Rent Wages Payable Work in Process

Finished Goods Accounts Payable Accounts Receivable Accrued Pension Cost $20,900 15,300 13,300 32,400 23,800 8,900 $ 500 16,400 17,000 57,800 8,400 5,000 8,600 30,000 2,600 10,100 28,100 5,000 2,700 14,700 Income Taxes Payable Interest Payable Investment in Available-for-Sale Securities Accumulated Depreciation: Buildings Accumulated Depreciation: Machinery and Equipment 30,000 Land Accumulated Other Comprehensive Income Additional Paid-In Capital on Common Stock Additional Paid-In Capital on Preferred Stock Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable (due 2027) Buildings Cash Common Stock, $10 par Deferred Taxes Payable Discount on Bonds Payable Dividends Payable 2,000 Machinery and Equipment 16,300 Marketable Securities (short-term) 7,000 Notes Payable (short-term) 1,000 Patents (net) 7,700 Preferred Stock, $100 par 29,000 92,500 Raw Materials 7,200 44,100 2,800 2,500 5,600 Prepaid Insurance Retained Earnings Unearned Rent Wages Payable Work in Process

FINANCIAL ACCOUNTING
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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The following is an alphabetical list of Lloyd’s Hudson Dealership Inc.’s December 31, 2019, balance sheet accounts and amounts:

1. Prepare a properly classified balance sheet for Lloyd’s Hudson Dealership as of December 31, 2019. List the additional parenthetical or note disclosures (if any) that should be made for each item.                                                        2. Next Level Compute the current ratio. what does it indicate about Lloyd’s Hudson Dealership?

Finished Goods Accounts Payable Accounts Receivable Accrued Pension Cost $20,900 15,300 13,300 32,400 23,800 8,900 $ 500 16,400 17,000 57,800 8,400 5,000 8,600 30,000 2,600 10,100 28,100 5,000 2,700 14,700 Income Taxes Payable Interest Payable Investment in Available-for-Sale Securities Accumulated Depreciation: Buildings Accumulated Depreciation: Machinery and Equipment 30,000 Land Accumulated Other Comprehensive Income Additional Paid-In Capital on Common Stock Additional Paid-In Capital on Preferred Stock Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable (due 2027) Buildings Cash Common Stock, $10 par Deferred Taxes Payable Discount on Bonds Payable Dividends Payable 2,000 Machinery and Equipment 16,300 Marketable Securities (short-term) 7,000 Notes Payable (short-term) 1,000 Patents (net) 7,700 Preferred Stock, $100 par 29,000 92,500 Raw Materials 7,200 44,100 2,800 2,500 5,600 Prepaid Insurance Retained Earnings Unearned Rent Wages Payable Work in Process
Transcribed Image Text:Finished Goods Accounts Payable Accounts Receivable Accrued Pension Cost $20,900 15,300 13,300 32,400 23,800 8,900 $ 500 16,400 17,000 57,800 8,400 5,000 8,600 30,000 2,600 10,100 28,100 5,000 2,700 14,700 Income Taxes Payable Interest Payable Investment in Available-for-Sale Securities Accumulated Depreciation: Buildings Accumulated Depreciation: Machinery and Equipment 30,000 Land Accumulated Other Comprehensive Income Additional Paid-In Capital on Common Stock Additional Paid-In Capital on Preferred Stock Allowance for Doubtful Accounts Bond Sinking Fund Bonds Payable (due 2027) Buildings Cash Common Stock, $10 par Deferred Taxes Payable Discount on Bonds Payable Dividends Payable 2,000 Machinery and Equipment 16,300 Marketable Securities (short-term) 7,000 Notes Payable (short-term) 1,000 Patents (net) 7,700 Preferred Stock, $100 par 29,000 92,500 Raw Materials 7,200 44,100 2,800 2,500 5,600 Prepaid Insurance Retained Earnings Unearned Rent Wages Payable Work in Process
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