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