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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Case 1-73 Research and Analysis Using the Annual Report

Obtain Apple Inc.’s 2016 annual report either through the “Investor Relations" portion of their website (do a web search for Apple investor relations) or go to www.sac.gov and click “Company Filings Search" under “Filings.”

Required:

Answer the following questions:

With regards to the balance sheet

a. What amounts did Apple report as total asset; liabilities, and stockholder's equity for 2016?

b. Did the amounts reported as assets, liabilities, and stockholder's equity change over the last year? If so, by how much?

c. What amounts were reported as current assets and current liabilities for the years presented?

d. Provide an assessment of Apple’s liquidity based on the information obtained in part b.

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.

Explanation

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
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.

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.

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-d:

To Indicate:

The liquidity of Apple Inc. for the years presented in the annual report for the year 2016.

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