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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

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.

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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

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