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
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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