Question Details

Finance Homework Help

The Liabilities Section of OâBrianâs 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.