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Current Liabilities - Financial Reporting Problem: Apple®, Inc. For this week's discussion topic, you must download Apple's annual report located under course resources, and answer the following questions: • What were Apple's total current liabilities on September 24, 2022? • What was the increase/decrease in Apple's total current liabilities from the prior year? What does it mean in relation to the cash account for both years? • What were the components of total current liabilities on September 24, 2022? ⚫ In Apple's Note 10, the company explains the nature of its contingencies. Select one of the legal matters and explain how the company accounted for it. ⚫ Based on information contained in those financial statements, compute the following 2022 ratios for the company: ⚫ working capital ⚫ current ratio What conclusions concerning the relative liquidity of the company can be drawn from this data?

Current Liabilities - Financial Reporting Problem: Apple®, Inc. For this week's discussion topic, you must download Apple's annual report located under course resources, and answer the following questions: • What were Apple's total current liabilities on September 24, 2022? • What was the increase/decrease in Apple's total current liabilities from the prior year? What does it mean in relation to the cash account for both years? • What were the components of total current liabilities on September 24, 2022? ⚫ In Apple's Note 10, the company explains the nature of its contingencies. Select one of the legal matters and explain how the company accounted for it. ⚫ Based on information contained in those financial statements, compute the following 2022 ratios for the company: ⚫ working capital ⚫ current ratio What conclusions concerning the relative liquidity of the company can be drawn from this data?

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 6RQ
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Current Liabilities - Financial Reporting Problem: Apple®, Inc. For this week's discussion topic, you must download Apple's annual report located under course resources, and answer the following questions: • What were Apple's total current liabilities on September 24, 2022? • What was the increase/decrease in Apple's total current liabilities from the prior year? What does it mean in relation to the cash account for both years? • What were the components of total current liabilities on September 24, 2022? ⚫ In Apple's Note 10, the company explains the nature of its contingencies. Select one of the legal matters and explain how the company accounted for it. ⚫ Based on information contained in those financial statements, compute the following 2022 ratios for the company: ⚫ working capital ⚫ current ratio What conclusions concerning the relative liquidity of the company can be drawn from this data?
Transcribed Image Text:Current Liabilities - Financial Reporting Problem: Apple®, Inc. For this week's discussion topic, you must download Apple's annual report located under course resources, and answer the following questions: • What were Apple's total current liabilities on September 24, 2022? • What was the increase/decrease in Apple's total current liabilities from the prior year? What does it mean in relation to the cash account for both years? • What were the components of total current liabilities on September 24, 2022? ⚫ In Apple's Note 10, the company explains the nature of its contingencies. Select one of the legal matters and explain how the company accounted for it. ⚫ Based on information contained in those financial statements, compute the following 2022 ratios for the company: ⚫ working capital ⚫ current ratio What conclusions concerning the relative liquidity of the company can be drawn from this data?
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