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Purpose of Assignment
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The purpose of this assignment is to help you understand the balance sheet presentation for the liabilities of a company.
Assignment Steps
Resources: Financial Accounting: Tools for Business Decision Making
Prepare the liabilities section of O’Brian’s balance sheet using the following information:
· Accounts payable $157,000
· Notes payable (due May 1, 2018) $20,000
· Bonds payable (due 2021) $900,000
· Unearned rent revenue $240,000
· Discount on bonds payable $41,000
· FICA taxes payable $7,800
· Interest payable (due 2019) $80,000
· Income taxes payable $3,500
· Sales taxes payable $1,700
The Liabilities Section of O’Brian’s balance sheet must be 525 words.
Show work on the Week 3 Excel® spreadsheet.
Note: This assignment requires that you only submit an Excel® Workbook file. There are no written or APA guideline requirements.
Click the Assignment Files tab to submit your assignment.
