ACC291 Week 3 The Liabilities Section of O’Brian’s Balance Sheet Individual Assignment

ACC291 Week 3 The Liabilities Section of O’Brian’s Balance Sheet Individual Assignment

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.

Click here to Find all Assignments for ACC 291 Course Didn’t find your answers? Don’t worry we are here to help you! Ask Questions

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.

Course: ACC291 Principles Of Accounting II
School: University of Phoenix

Available CoursesAsk Questions / Chat Now to Get Help Immediately