Purpose of Assignment
The purpose of this assignment is to help you understand the balance sheet presentation for the liabilities of a company.
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.
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