Liabilities Section of OBrians Balance Sheet

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anilgrk1980

Business Finance

Description

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.

Click the Assignment Files tab to submit your assignment.

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Name Section Date Chapter 10 Brief Exercise BE10-13 O'BRIAN INC. Balance Sheet (Partial) December 31, 2017 548
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Explanation & Answer

Attached.

Name
Section
Date

Chapter 10 Brief Exercise

BE10-13
O'BRIAN INC.
Balance Sheet (Partial)
December 31, 2017
LIABILITIES
Current Liabilities:
Accounts payable
Notes Payable
Unearned Revenue
Interest Payable
FICA...


Anonymous
I was struggling with this subject, and this helped me a ton!

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