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.?