Refer to Westjet's December 31, 2011, balance sheet in Appendix II at the end of the textbook.

Question:

Refer to Westjet's December 31, 2011, in Appendix II at the end of the textbook.
Required
Answer the following questions.
1. Westjet shows cash and cash equivalents on its December 31, 2011, Explain the meaning of cash and cash equivalents.
2. How much cash and cash equivalents did Westjet have on December 31, 2011?
3. By how much did Westjet's cash and cash equivalents increase or decrease from December 31, 2010, to December 31, 2011?
Analysis Component: Is it possible for there to be excessive cash and cash equivalents? Explain.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...