User Account

All Pages

Prepare liabilities section of obrians balance sheet

Assignment Help Financial Accounting
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

Questions Cloud

Rational buyers and no deceptive advertising : Nevertheless, the total unit sales at her store have increased slightly during this time period. Assuming rational buyers and no deceptive advertising?
Key components of gdp : Investment expenditure is one of the key components of GDP (expenditure method). lack of investors confidence in the recent years is alleged
Change in equilibrium gdp : Suppose the government increases expenditures by ?$70 billion and the marginal propensity to consume is 0.60. By how will equilibrium GDP? change?
Change in equilibrium gdp : Suppose the government increases expenditures by ?$70 billion and the marginal propensity to consume is 0.60. By how will equilibrium GDP? change?
Prepare liabilities section of obrians balance sheet : Prepare the liabilities section of O'Brians balance sheet - Present the liabilities section of the partial balance sheet in accordance
What is the slack time in each department : Kelson Sporting Equipment, Inc., makes two types of baseball gloves: a regular model and a catcher's model. The firm has 900 hours of production time available.
What must have been the reason of dis-satisfaction of : a) What must have been the reason of dis-satisfaction of employees regarding this decision? b) Why the reasons employees are resist change in the organization? c) If you were CEO / Chairman of this development bank, what would have been your approach..
Change in equilibrium gdp : Suppose the government increases expenditures by ?$70 billion and the marginal propensity to consume is 0.60. By how will equilibrium GDP? change?
Recommend which of the two sites ccf should choose : a) Recommend which of the two sites CCF should choose for its new meat processingfactory. Justifyyour answer with an analysis of the data in Table 1 and other relevant information. b) Discuss the importance to CCF of corporate social responsibility w..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare the journal entry for the wages and salaries paid

Total payroll of Watson Co. was $920,000, of which $160,000 represented amounts paid in excess of $100,000 to certain employees. The amount paid to employees in excess of $7,000 was $720,000. Income taxes withheld were $225,000. Prepare the entry to ..

  Determine net capital gain or net capital loss for the year

Hilary is a well-known mountain climber. The Daily Terror newspaper offers her $10,000 for her life story, if she will write it. Without the assistance of a ghost writer, she writes a story and assigns all her right, title and interest in the copyrig..

  Amount of claytons investment in austin

Clayton Inc. purchased 30% of the outstanding common stock of Austin Industries on January 1, 2014, for $180,000. Austin reported net income of $70,000 for 2014 and declared and paid cash dividends on common stock of $30,000. The amount of Clayton's ..

  Evaluate cost of goods available for sale

Compute cost of goods available for sale and the number of units available for sale and compute the number of units in ending inventory.

  Determine which costs are variable-fixed and step fixed

The Cattle Company has gathered the following information about operations for the past three years. The owner has been expanding herd size and is frustrated that profits have not shown consistent growth.  Determine which costs are variable, fixed, a..

  Management trainee by earrings unlimited

You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at..

  Illustrate what would the expected total overhead costs be

At a volume of 5,000 units the company incurs $25,000 in factory overhead costs. If volume increases to 10,000, illustrate what would the expected total overhead costs be?

  Reported in the stockholders equity section

Otis Thorpe Corporation has 10,490 shares of $100 par value, 5% preferred stock and 52,400 shares of $10 par value common stock outstanding at December 31, 2014. If the preferred stock was issued at $106 per share, how should the preferred stock be r..

  How the use of ethics by the parties involved

Critique the Ethics of those involved in the News of the World phone hacking scandal. Demonstrate in your critical analysis how the use of Ethics by the parties involved could have assisted in better operation of News Ltd.

  Calculating transfer price

Trimble Crane, Inc. has a number of divisions, including the Palm Division, a producer of hydraulic pumps, and Acer Division, a manufacturer of motors. If Trimble Crane, Inc. has a transfer pricing policy that requires transfer at full cost: Which di..

  Decrease in both net noncurrent assets and net income

What should be the effects of the determination that the decline was other-than-temporary on Kopp's 2011 net noncurrent assets and net income? Decrease in both net noncurrent assets and net income

  Compute the unlevered market equity asset beta of equifax

Compute the unlevered market equity (asset) beta of Equifax. Compute the equity beta of Experian after the buyout with its new capital structure.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd