The purpose of this assignment is to help you understand the balance sheet presentation for the l… Assignment Help


The purpose of this assignment is to help you understand thebalance sheet presentation for the liabilities of a company.Assignment Steps Resources: Financial Accounting: Tools forBusiness Decision Making Prepare the liabilities section ofO’Brian’s balance sheet using the following information:Accounts payable $157,000Notes payable (due May 1, 2018) $20,000Bonds payable (due 2021) $900,000Unearned rent revenue 0,000Discount on bonds payable $41,000FICA taxes payable $7,800Interest payable $40,000Notes payable (due 2019) $80,000Income taxes payable ,500Sales taxes payable 500Sales taxes payable $1,700

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