Research and Analysis Using the Annual Report} Obtain George Weston Limited's 2014 annual report through the Investor
Question:
Research and Analysis Using the Annual Report}
Obtain George Weston Limited's 2014 annual report through the "Investor Relations" portion of its website.
\section*{Required:}
1. Determine the amounts in the basic accounting equation for the most recent year. Does it balance?
2. What is the normal balance for the following accounts?
a. Accounts Receivable
b. Short-Term Debt
c. Sales/Revenue
d. Fixed Assets (Net)
e. Cost of Inventories Sold
f. Inventories g. Retained Earnings 3. Identify the additional account that is most likely involved when:
a. Accounts payable/trade payable is increased.
b. Accounts Receivable is increased.
c. Share capital/common shares is increased.
d. Wages Payable is increased.
Step by Step Answer:
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone