Prepare the liabilities section of O’Brian’s balance sheet using the following information: Accounts payable $157,000 Notes payable (due May 1, 2018) $20,000Â

Purpose of Assignment

The purpose of this assignment is to help you understand the balance sheet presentation for the liabilities of a company.Â

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) $20,000Â
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 $1,700Â

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