This case, based on TELUS Corporation's balance sheet on MyAccountingLab, will familiarize you with some of the

Question:

This case, based on TELUS Corporation's on MyAccountingLab, will familiarize you with some of the assets and liabilities of this company. Answer these questions, using TELUS Corporation's Compare TELUS's (consolidated statement of financial position) to the in Exhibit 4-14 on page 193 . What differences in style do you notice between these two balance sheets? Describe these differences.
2. What was TELUS's largest current asset in 2013? In 2012?
3. What was the company's largest current liability in 2013? In 2012?
4. What were total current assets in 2013? In 2012?
5. What were total current liabilities in 2013? In 2012?
6. Compute TELUS's current ratio at December 31, 2013, and at December 31, 2012. Did the ratio values improve or deteriorate during the year?
7. Compute TELUS's debt ratio at December 31, 2013, and at December 31, 2012. Did the ratio values improve or deteriorate during the year?
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...