Locate the December 31, 2020, TELUS annual report. TELUS calls their balance sheet a “Consolidated Statement of Financial Position,” and their income statement is called a “Consolidated Statement of Income.” The term consolidated means the results of many companies owned by TELUS are included in the totals presented.

Required

1. How much accounts receivable did TELUS have at December 31, 2020?

2. What were the total assets at December 31, 2020? At December 31, 2019?

3. Write the company’s accounting equation at December 31, 2020, by filling in the dollar amounts:

4. Identify total operating revenues for the year ended December 31, 2020, and the year ended December 31, 2019. Did revenue increase or decrease during 2020? 

5. How much net income or net loss did TELUS experience for the year ended December 31, 2020? Was 2020 a good year or bad year compared to 2019?

Transcribed Image Text:

Assets = Liabilities + Owners' Equity