Cornerstones of Financial Accounting

4th Edition

ISBN: 9781337690881

Author: Jay Rich, Jeff Jones

Publisher: Cengage Learning

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Cornerstones of Financial Accounting

Accounting And The Financial Statements. 73.3C

BusinessAccountingCornerstones of Financial AccountingAnnual 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-a: To Indicate: The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016.

Question

Chapter 1, Problem 73.3C

To determine

**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-a:**

**To Indicate:**

The amount of Total assets, Liabilities and stockholder’s equity of Apple Inc. for the year 2016.

Expert Solution

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 |

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 |

To determine

**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.

Expert Solution

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 |

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 |

To determine

**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.

Expert Solution

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 |

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 |

To determine

**Concept Introduction:**

**Annual report:**

**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.

Expert 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 |

Current Ratio | 1.35 | 1.11 |

Apple inc. has improved its liquidity in the year 2016.

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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Cornerstones of Financial Accounting

4th Edition

ISBN: 9781337690881

Author: Jay Rich, Jeff Jones

Publisher: Cengage Learning

Not helpful? See similar books

Cornerstones of Financial Accounting

Accounting And The Financial Statements. 73.3C

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Financial Transaction Analysis

Cornerstones of Financial Accounting

Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 8DQCh. 1 - Prob. 9DQCh. 1 - Prob. 10DQ

Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - Prob. 13DQCh. 1 - Prob. 14DQCh. 1 - Prob. 15DQCh. 1 - Prob. 16DQCh. 1 - Prob. 17DQCh. 1 - Prob. 18DQCh. 1 - Prob. 19DQCh. 1 - Prob. 20DQCh. 1 - Prob. 21DQCh. 1 - Prob. 22DQCh. 1 - Prob. 1MCQCh. 1 - Prob. 2MCQCh. 1 - Prob. 3MCQCh. 1 - Prob. 4MCQCh. 1 - Prob. 5MCQCh. 1 - Prob. 6MCQCh. 1 - Prob. 7MCQCh. 1 - Prob. 8MCQCh. 1 - Prob. 9MCQCh. 1 - Prob. 10MCQCh. 1 - Prob. 11MCQCh. 1 - Prob. 12MCQCh. 1 - Prob. 13MCQCh. 1 - Prob. 14CECh. 1 - Prob. 15CECh. 1 - Prob. 16CECh. 1 - Prob. 17CECh. 1 - Prob. 18CECh. 1 - Prob. 19CECh. 1 - Prob. 20CECh. 1 - Prob. 21BECh. 1 - Prob. 22BECh. 1 - Prob. 23BECh. 1 - Prob. 24BECh. 1 - Prob. 25BECh. 1 - Prob. 26BECh. 1 - Prob. 27BECh. 1 - Prob. 28BECh. 1 - Prob. 29BECh. 1 - Prob. 30BECh. 1 - Prob. 31ECh. 1 - Prob. 32ECh. 1 - Prob. 33ECh. 1 - Prob. 34ECh. 1 - Prob. 35ECh. 1 - Prob. 36ECh. 1 - Prob. 37ECh. 1 - Prob. 38ECh. 1 - Prob. 39ECh. 1 - Prob. 40ECh. 1 - Prob. 41ECh. 1 - Prob. 42ECh. 1 - Prob. 43ECh. 1 - Prob. 44ECh. 1 - Prob. 45ECh. 1 - Prob. 46ECh. 1 - Prob. 47ECh. 1 - Prob. 48ECh. 1 - Prob. 49ECh. 1 - Prob. 50ECh. 1 - Prob. 51ECh. 1 - Prob. 52ECh. 1 - Prob. 53ECh. 1 - Prob. 54ECh. 1 - Prob. 55ECh. 1 - Prob. 56APSACh. 1 - Prob. 57APSACh. 1 - Prob. 58APSACh. 1 - Prob. 59APSACh. 1 - Prob. 60APSACh. 1 - Prob. 61APSACh. 1 - Prob. 62APSACh. 1 - Prob. 63APSACh. 1 - Prob. 64APSACh. 1 - Prob. 65APSACh. 1 - Prob. 56BPSBCh. 1 - Prob. 57BPSBCh. 1 - Prob. 58BPSBCh. 1 - Prob. 59BPSBCh. 1 - Prob. 60BPSBCh. 1 - Prob. 61BPSBCh. 1 - Prob. 62BPSBCh. 1 - Prob. 63BPSBCh. 1 - Prob. 64BPSBCh. 1 - Prob. 65BPSBCh. 1 - Prob. 66CCh. 1 - Prob. 67.1CCh. 1 - Prob. 67.2CCh. 1 - Prob. 68.1CCh. 1 - Prob. 68.2CCh. 1 - Prob. 69.1CCh. 1 - Prob. 69.2CCh. 1 - Prob. 70.1CCh. 1 - Prob. 70.2CCh. 1 - Prob. 70.3CCh. 1 - Prob. 71CCh. 1 - Prob. 72CCh. 1 - Prob. 73.1CCh. 1 - Prob. 73.2CCh. 1 - Prob. 73.3CCh. 1 - Prob. 73.4CCh. 1 - Prob. 73.5CCh. 1 - Prob. 73.6CCh. 1 - Prob. 73.7CCh. 1 - Prob. 74.1CCh. 1 - Prob. 74.2CCh. 1 - Prob. 74.3CCh. 1 - Prob. 74.4CCh. 1 - Prob. 74.5CCh. 1 - Prob. 74.6CCh. 1 - Prob. 75.1CCh. 1 - Prob. 75.2CCh. 1 - Prob. 75.3C

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