Apple Inc Please use Apple Inc’s complete annual report, including the notes to its financial statements for 2019 and 2018 to answer this case study. Information are available at the company's website. Apple's financial statements contain the following selected accounts, stated in millions of dollars. Accounts Payable Accounts Receivable Property, Plant, and Equipment Instructions Cash and Cash Equivalents Research and Development Expense Inventories a. Answer the following questions. 1. What is the increase and decrease side for each account? 2. What is the normal balance for each account? b. Identify the probable other account in the transaction and the effect on that account when: 1. Accounts Receivable is decreased. 2. Accounts Payable is decreased. 3. Inventories are increased. c. Identify the other account(s) that ordinarily would be involved when: 1. Research and Development Expense is increased. 2. Property, Plant, and Equipment is increased.
Apple Inc Please use Apple Inc’s complete annual report, including the notes to its financial statements for 2019 and 2018 to answer this case study. Information are available at the company's website. Apple's financial statements contain the following selected accounts, stated in millions of dollars. Accounts Payable Accounts Receivable Property, Plant, and Equipment Instructions Cash and Cash Equivalents Research and Development Expense Inventories a. Answer the following questions. 1. What is the increase and decrease side for each account? 2. What is the normal balance for each account? b. Identify the probable other account in the transaction and the effect on that account when: 1. Accounts Receivable is decreased. 2. Accounts Payable is decreased. 3. Inventories are increased. c. Identify the other account(s) that ordinarily would be involved when: 1. Research and Development Expense is increased. 2. Property, Plant, and Equipment is increased.
Apple Inc Please use Apple Inc’s complete annual report, including the notes to its financial statements for 2019 and 2018 to answer this case study. Information are available at the company's website. Apple's financial statements contain the following selected accounts, stated in millions of dollars. Accounts Payable Accounts Receivable Property, Plant, and Equipment Instructions Cash and Cash Equivalents Research and Development Expense Inventories a. Answer the following questions. 1. What is the increase and decrease side for each account? 2. What is the normal balance for each account? b. Identify the probable other account in the transaction and the effect on that account when: 1. Accounts Receivable is decreased. 2. Accounts Payable is decreased. 3. Inventories are increased. c. Identify the other account(s) that ordinarily would be involved when: 1. Research and Development Expense is increased. 2. Property, Plant, and Equipment is increased.
Please use Apple Inc’s complete annual report, including the notes to its financial statements for 2019 and 2018 to answer this case study. Information are available at the company's website. Apple's financial statements contain the following selected accounts, stated in millions of dollars.
Accounts Payable Accounts Receivable Property, Plant, and Equipment
Instructions
Cash and Cash Equivalents Research and Development Expense Inventories
a. Answer the following questions. 1. What is the increase and decrease side for each account? 2. What is the normal balance for each account?
b. Identify the probable other account in the transaction and the effect on that account when:
1. Accounts Receivable is decreased. 2. Accounts Payable is decreased. 3. Inventories are increased.
c. Identify the other account(s) that ordinarily would be involved when: 1. Research and Development Expense is increased. 2. Property, Plant, and Equipment is increased.
Transcribed Image Text:Current assets:
Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 26,
2020
ASSETS:
LIABILITIES AND SHAREHOLDERS' EQUITY:
$
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current assets
Total current assets
Marketable securities
Property, plant and equipment, net
Other non-current assets
Total non-current assets
Total assets
Non-current assets:
Current liabilities:
Accounts payable
Other current liabilities
Deferred revenue
Commercial paper
Term debt
Total current liabilities
Non-current liabilities:
Term debt
Other non-current liabilities
Total non-current liabilities
Total liabilities
Commitments and contingencies
Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value:
50,400,000 shares authorized; 16,976,763 and 17,772,945 shares
issued and outstanding, respectively
Retained earnings
Accumulated other comprehensive income/(loss)
Total shareholders' equity
Total liabilities and shareholders' equity
38,016 $
52,927
16,120
4,061
21,325
11,264
143,713
100,887
36,766
42,522
180,175
323,888 $
42,296
$
42,684
6,643
4,996
8,773
105,392
98,667
54,490
153,157
258,549
50,779
14,966
(406)
65,339
323,888
See accompanying Notes to Consolidated Financial Statements.
Apple Inc. | 2020 Form 10-K
$
September 28,
2019
48,844
51,713
22,926
4,106
22,878
12,352
162,819
105,341
37,378
32,978
175,697
338,516
46,236
37,720
5,522
5,980
10,260
105,718
91,807
50,503
142,310
248,028
45,174
45,898
90,488
338,516
(584)
Transcribed Image Text:Apple Inc.
CONSOLIDATED BALANCE SHEETS
(In millions, except number of shares which are reflected in thousands and par value)
September 29,
2018
ASSETS:
$
LIABILITIES AND SHAREHOLDERS' EQUITY:
Total non-current liabilities
Total liabilities
Commitments and contingencies
Shareholders' equity:
Common stock and additional paid-in capital, $0.00001 par value: 12,600,000 shares
authorized; 4,754,986 and 5,126,201 shares issued and outstanding, respectively
Retained earnings
Accumulated other comprehensive income/(loss)
Total shareholders' equity
Total liabilities and shareholders' equity
$
See accompanying Notes to Consolidated Financial Statements.
Apple Inc. I 2018 Form 10-KI 40
Current assets:
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Vendor non-trade receivables
Other current assets
Total current assets
Non-current assets:
Marketable securities
Property, plant and equipment, net
Other non-current assets
Total non-current assets
Total assets
Current liabilities:
Accounts payable
Other current liabilities
Deferred revenue
Commercial paper
Term debt
Total current liabilities
Non-current liabilities:
Deferred revenue
Term debt
Other non-current liabilities
$
$
September 30,
2017
20,289
53,892
17,874
4,855
17,799
13,936
128,645
194,714
33,783
18,177
246,674
375,319
44,242
30,551
7,548
11,977
6,496
100,814
2,836
97,207
40,415
140,458
241,272
35,867
98,330
25,913 $
40,388
23,186
3,956
25,809
12,087
131,339
170,799
41,304
22,283
234,386
365,725 $
55,888 $
32,687
7,543
11,964
8,784
116,866
2,797
93,735
45,180
141,712
258,578
40,201
70,400
(3,454)
107,147
365,725
$
(150)
134,047
375,319
Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.
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