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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( 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.
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