Ch13FFSOnline - F o c u s o n F i n a n c i a l S t a t e m...

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Unformatted text preview: F o c u s o n F i n a n c i a l S t a t e m e n t s O n l i n e FFS 13-2 FFS 13-3 FFS 13-4 C h a p t e r 1 3 Required Answer the following questions by referring to the December 31, 2002, balance sheets for each of Leons and WestJet on pages I-3 and I-12 in the textbook, respectively. 1. Leons shows Customers deposits of $6,664 (thousand) under current liabilities. Explain what this is and why it is classified as a current liability. 2. WestJet shows Advance ticket sales of $44,195 (thousand) under current liabilities. Explain what this is. 3. WestJet shows Current portion of long-term debt of $32,674 (thousand) under current liabilities. Explain what this is and why it is classified as a current liability. Why is some of the debt listed as a current liability and the balance as long-term debt? Located in Burnaby, British Colombia, Ballard Power Systems Inc. produces zero-emission fuel cells....
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This note was uploaded on 08/22/2009 for the course ACCT 1101 taught by Professor Davescott during the Fall '05 term at Niagara College.

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