Question: How does TELUS account for purchases of new property plant
How does TELUS account for purchases of new property, plant, and equipment on its balance sheet? What method(s) does TELUS use to depreciate its property, plant, and equipment? What was TELUS' depreciation expense for property, plant, and equipment in 2011? How much depreciation had been accumulated against property, plant, and equipment on December 31, 2011? Why does TELUS depreciate its property, plant, and equipment (aside from the fact it's required by IFRS)? What does the carrying amount of TELUS' property, plant, and equipment tell you about what it could be sold for? What does the carrying amount tell you about what these assets are "worth" to TELUS?
Answer to relevant QuestionsWhat was TELUS' return on assets for the years ended December 31, 2011 and 2010? Interpret the ratios you calculated.What is a current liability? Why is it important to know the amount of current liabilities an entity has? Why is the distinction between current and non-current liabilities important for some stakeholders?What are future income taxes and what circumstances cause them to appear on an entity's balance sheet? Why would recording an "interest-free" loan at its face value result in the overstatement of net income for the borrower? Distinguish between a defined-benefit pension plan and defined-contribution pension plan. Which plan is more attractive for employees? Explain. Which plan is less risky for employers? Explain.
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