Question BALANCE SHEET

Selected accounts from the partial trial balance of Lidia Inc. shows following amounts at December 31, 2020. All accounts have normal balances.

Account Name	$	Account Name	$
Copyrights	125,000	Accumulated Depreciation equipment	222,000
Payroll Taxes Payable	89,055	Inventories	239,800
Bonds Payable, 4.5% , due Dec 31, 2020	500,000	Interest Payable (due Mar 2021)	98,362
Premium on Bonds Payable	8,000	Common Shares (160,000 shares issued)	680,000
Cash	282,000	Income taxes receivable (due June 2021)	17,630
Construction work in process	232,000	Deferred Rent Revenue	65,000
Notes Receivable due from subsidiary in 2023	95,700	Equipment	888,000
Notes payable due Feb, 2023	165,000	Trading Securities (fair value 125,000)	138,000
Notes Payable, due on demand	100,000	Accumulated Depreciation building	336,000
Accounts Payable	490,000	Building	2,229,000
Trade receivables	160,000	Advances to employees	10,000
Investments (fair value through OCI)	195,000	Accumulated Other Comprehensive Income	85,000
Long Term Mortgage Payable	800,000	Cash Dividends Payable	45,000

Additional Information:

1. Trade Receivables consist of the following:

1. Open accounts receivable (gross), $105,000
2. Allowance for doubtful accounts, $15,000 (credit balance)
3. Instalment accounts due in 2021, $30,000
4. Instalment accounts due in 2022, $40,000

2. Cash includes the following amounts:

1. A bank overdraft of $15,000. The overdraft account is held at a different bank than the cash balance
2. Guaranteed Investment Certificates (GICs) due in 60 days, $16,000
3. Petty Cash, $6,000.

3. Construction work in process includes a building being constructed on a tract of land. The work in process values are as follows: Land $100,000; Building $132,000

4. Investments valued at fair value through OCI have a fair value of $205,000 at Dec. 31, 2020

5. Inventories are recorded at lower of FIFO cost and net realizable value

6. As a condition of their mortgage loan, Lidia is required to hold a compensating balance of $25,000 in their corporate bank account at all times

7. Ordinary shares have unlimited authorization.

8. The AOCI balance excludes unrealized holding gains and losses for 2020.

REQUIRED:

1. Prepare the asset and liability section of Lidias classified statement of financial position (balance sheet) at December 31, 2020. Set up the correct three-line title on your partial statement of financial position. Note disclosures are not required. Lidia uses contra-accounts on its statement of financial position.
2. Calculate the ending balance in the Accumulated Other Comprehensive Income account at December 31, 2020