ACC 291 Week 3 Assignment The Liabilities Section of O’Brian’s Balance Sheet
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ACC 291 Week 3 Assignment The Liabilities Section of O’Brian’s Balance Sheet

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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 (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. Click the Assignment Files tab to submit your assignment.

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