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Concept Introduction:
Annual report:
The annual report of the company includes the financial and other operating descriptions about the business for a particular year.
Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement,
Requirement-a:
To Indicate:
The amount of Total assets, Liabilities and
Answer to Problem 73.3C
The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 are as follows:
| Apple Inc. | Year 2016 |
| Million $ | |
| Total Assets | 321,686 |
| Total Liabilities | 193,437 |
| Total Stockholder's Equity | 128,249 |
Explanation of Solution
The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 can be found in the Consolidated Balance sheet as follows:
| Apple Inc. | Year 2016 |
| Million $ | |
| Total Assets | 321,686 |
| Total Liabilities | 193,437 |
| Total Stockholder's Equity | 128,249 |
Concept Introduction:
Annual report:
The annual report of the company includes the financial and other operating descriptions about the business for a particular year.
Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.
Requirement-b:
To Indicate:
The change in the amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 as compared with the last year.
Answer to Problem 73.3C
The change in the amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 as compared with the last year is as follows:
| Apple Inc. | Change |
| Million $ | |
| Total Assets | 31,341 |
| Total Liabilities | 22,447 |
| Total Stockholder's Equity | 8,894 |
Explanation of Solution
The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016 and 2015 can be found in the Consolidated Balance sheet as follows:
| Apple Inc. | Year 2016 | Year 2015 | Change |
| Million $ | Million $ | Million $ | |
| Total Assets | 321,686 | 290,345 | 31,341 |
| Total Liabilities | 193,437 | 170,990 | 22,447 |
| Total Stockholder's Equity | 128,249 | 119,355 | 8,894 |
Concept Introduction:
Annual report:
The annual report of the company includes the financial and other operating descriptions about the business for a particular year.
Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.
Requirement-c:
To Indicate:
The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016.
Answer to Problem 73.3C
The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016 are as follows:
| Apple Inc. | Year 2016 | Year 2015 |
| Million $ | Million $ | |
| Current Assets | 106,869 | 89,378 |
| Current Liabilities | 79,006 | 80,610 |
Explanation of Solution
The amount of Current assets and current Liabilities of Apple Inc. for the years presented in the annual report for the year 2016 can be found in the Consolidated Balance sheet as follows:
| Apple Inc. | Year 2016 | Year 2015 |
| Million $ | Million $ | |
| Current Assets | 106,869 | 89,378 |
| Current Liabilities | 79,006 | 80,610 |
Concept Introduction:
Annual report:
The annual report of the company includes the financial and other operating descriptions about the business for a particular year.
Financial statements: Financial statements are prepared to summaries the account at the end of the period. The statements prepared are Income statement, Balance sheet, Statement of owner’s equity and Cash flows statements.
Requirement-d:
To Indicate:
The liquidity of Apple Inc. for the years presented in the annual report for the year 2016.
Answer to Problem 73.3C
The liquidity of Apple Inc. for the years presented in the annual report for the year 2016 is shown as follows:
| Apple Inc. | Year 2016 | Year 2015 |
| 1.35 | 1.11 |
Apple inc. has improved its liquidity in the year 2016.
Explanation of Solution
The liquidity of Apple Inc. for the years presented in the annual report for the year 2016 is shown as follows:
| Apple Inc. | Year 2016 | Year 2015 |
| Million $ | Million $ | |
| Current Assets (A) | 106,869 | 89,378 |
| Current Liabilities (B) | 79,006 | 80,610 |
| Current Ratio (A/B) | 1.35 | 1.11 |
Hence, Apple inc. has improved its liquidity in the year 2016.
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Chapter 1 Solutions
Cornerstones of Financial Accounting
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