QuickHelper

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About QuickHelper

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Elementary,High School,College,University,PHD

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Teaching Since: May 2017
Last Sign in: 259 Weeks Ago
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  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

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  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 19 Sep 2017 My Price 11.00

The Liabilities Section of a Balance Sheet

The Liabilities Section of O'Brian's Balance Sheet: Discuss how to prepare the liabilities section of O'Brian's Balance Sheet on the attached spreadsheet. Write a 175-word individual response. 

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 must be 525 words.

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. 

Attachments:

Answers

QuickHelper
(10)
Status NEW Posted 19 Sep 2017 08:09 AM My Price 11.00

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