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Prepare liabilities section of obrians balance sheet

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Reference no: EM131668826

Assignment

Financial Accounting: Tools for Business Decision Making

Prepare the liabilities section of O'Brians 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

Use the Excel Workbook (provided with the assignment instructions) to show the supporting calculations and the liabilities section (partial balance sheet). Present the liabilities section of the partial balance sheet in accordance with the information presented in Chapter 10.

Attachment:- Balance Sheet.xls

Verified Expert

Using the excel template provided, and the instructions for the assignment, the partial balance sheet is prepared. The partial balance sheet includes liabilities section and has been appropriately provided in the excel attached with supporting calculations. The liabilities include accounts payable, notes payable, bonds payable, unearned revenue, taxes payable, etc.

Reference no: EM131668826

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