WestJet Airlines Ltd. is one of the most profitable airlines in North America. The following list of accounts and amounts was taken from its December 31, 2011, financial statements (in thousands):

Accounts payable and accrued liabilities..............................................$ 307,279

Accounts receivable..........................................................................34,122

Advance ticket sale liability...............................................................432,186

Aircraft fuel, leasing, and maintenance expense....................................1,227,709

Airport operations expense................................................................421,561

Cash.......................................................................................1,291,946

Deferred income tax liability.............................................................326,456

Depreciation and amortization expense................................................174,751

Employee profi t share expense............................................................23,804

Flight operations and navigational charges.............................................483,920

Guest revenues.....................................................................................2,790,299

Income tax expense....................................................................................59,304

Intangible and other assets..........................................................................137,752

Inventory.......................................................................................................31,695

Long-term debt..............................................................................................828,712

Maintenance provisions liability.........................................................................151,645

Marketing, general, and administration expense................................................209,880

Non-operating expenses.......................................................................................48,545

Non-refundable guest credits liability.................................................................43,485

Other liabilities....................................................................................................13,698

Other revenues...................................................................................................281,241

Prepaid expenses and deposits.............................................................................66,936

Property and equipment.................................................................................1,911,227

Sales and distribution expense..........................................................................273,364

Shareholders' (owners) "drawings" ...................................................................82,718

Shareholders' (owners) equity, January1, 2011............................................1,304,233

Instructions

(a) West Jet Airlines Ltd. is a corporation. Which of the items listed above are used only in corporations?

(b) Prepare a trial balance for West Jet with the accounts in financial statement order.

(c) West Jet has grouped several items together in its financial statements. For example, marketing, general, and administration expenses are shown as one amount. What are some possible reasons for doing this?

(d) In Chapter 2, you learned about unearned revenue. Would you expect a company like West Jet to have unearned revenue? If so, what account name has West Jet used for its unearned revenue?