Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

Exercise 21

Each member of the team should select a large corporation and go to its Web site. Surf around until you find the company's balance sheet. Often the appropriate tab is labeled as one of the following:
• Investor Relations
• About the Company
• Financial Reports
• 10-K Report
From the company's balance sheet, scroll down until you find the liabilities.
Requirements
1. List all the company's liabilities-both current and long-term-along with each amount.
2. Read the company's notes to the financial statements and include any details that help you identify the amount of a liability.
3. Compute the company's current ratio and debt ratio.
4. Bring your findings to your team meeting, compare your results with those of your team members, and prepare either a written report or an oral report, as directed by your instructor.