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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 $40,000

· Notes payable (due 2019) $80,000

· Income taxes payable $3,500

· Sales taxes payable $1,700 

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.