Purpose of AssignmentThe purpose of this assignment is to help you und


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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 liabiliti

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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 $40,000 -Notes payable (due 2019) $80,000 -Income taxes payable $3,500 -Sales taxes payable $1,700

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