Answer: ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet

 

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ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet

ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet

ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet

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. 

Click the Assignment Files tab to submit your assignment.

ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet

ACC 291 WEEK 3 The Liabilities Section of O’Brian’s Balance Sheet