The Liabilities Section of O’Brian’s Balance Sheet

Purpose of Assignment
 

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.