The liabilities section of o brian's balance sheet

The Liabilities Section Of O’Brian’s Balance Sheet

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 $40,000
Notes payable (due 2019) $80,000
Income taxes payable $3,500
Sales taxes payable $1,700

The Liabilities Section of O’Brian’s Balance Sheet Grading Guide

ACC/291 Version 6

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The Liabilities Section of O’Brian’s Balance Sheet Grading Guide

ACC/291 Version 6

Principles of Accounting II

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Individual Assignment: The Liabilities Section of O’Brian’s Balance Sheet
Purpose of Assignment
The purpose of this assignment is to help you understand the balance sheet presentation for the liabilities of a company.
Resources Required
Financial Accounting: Tools for Business Decision Making
Grading Guide
Content

Met

Partially Met

Not Met

Comments:

Prepared the liabilities section of O’Brian’s balance sheet using the following information:

· Accounts payable $157,000

· Notes payable $20,000 (due May 1, 2018)

· Bonds payable (due 2021) $900,00

· 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

Showed all work and submitted an Excel® Workbook file.

Total Available

Total Earned

7

#/7

Assignment Total

#

7

#/7

Additional comments: