Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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.

image text in transcribed 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. Name Section Date Chapter 10 Brief Exercise BE10-13 O'BRIAN INC. Balance Sheet (Partial) December 31, 2017 548 apter 10 Brief Exercise 548 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practicing Financial Planning

Authors: Sid Mittra, Anandi P Sahu, Brian Fischer

12th Edition

9386042851, 9789386042859

Students also viewed these Accounting questions

Question

=+b) Test an appropriate hypothesis and state your conclusion.

Answered: 1 week ago

Question

Write short notes on Interviews.

Answered: 1 week ago

Question

What reward will you give yourself when you achieve this?

Answered: 1 week ago