Liabilities Section Balance Sheet

Assignment StepsResources: Financial Accounting: Tools for Business Decision MakingPrepare the liabilities section of O’Brian’s balance sheet using the following information: Accounts payable $157,000Notes payable (due May 1, 2018) $20,000 Bonds payable (due 2021) $900,000Unearned rent revenue $240,000Discount on bonds payable $41,000FICA taxes payable $7,800Interest payable $40,000Notes payable (due 2019) $80,000Income taxes payable $3,500Sales taxes payable $1,700 Show work on the Week 3 Excel® spreadsheet.Note: This assignment requires that you only submit an Excel® Workbook file.
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Liabilities Section Balance Sheet
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The Liabilities Section of O’Brian’s
Balance Sheet Grading Guide
ACC/291 Version 6
Principles of Accounting II
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The Liabilities Section of O’Brian’s
Balance Sheet Grading Guide
ACC/291 Version 6
Individual Assignment: 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.
Resources Required
Financial Accounting: Tools for Business Decision Making
Grading Guide
Content
Met
Partially
Met
Not Met
Total
Available
Total
Earned
7
#/7
7
#/7
Prepared the liabilities section of O’Brian’s
balance sheet using the following information:
•
•
•
•
•
•
•
•
•
•
Accounts payable $157,000
Notes payable $20,000 (due May 1,
2018)
Bonds payable (due 2021) $900,00
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
Showed all work and submitted an Excel®
Workbook file.
Assignment Total
Additional comments:
#
Comments:
2
Name
Section
Date
Chapter 10 Brief Exercise
BE10-13
O’BRIAN INC.
Balance Sheet (Partial)
December 31, 2017
548

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