ACC 291 Week 3 The Liabilities Section of O’Brian’s Balance Sheet

ACC 291 Week 3 The Liabilities Section of O’Brian’s Balance Sheet

Entire Course Link

https://plus.google.com/u/0/108200033792883877670/posts/dWT4sDYbQKM

 ACC 291 Week 3 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 $40,000
 

 

Notes 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.
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