Question

The financial statements of Apple.Inc are presented in Appendix A.
Instructions for accessing and using the company’s complete annual report, including the notes to the financial statements, are also provided in Appendix A.
Apple’s financial statements contain the following selected accounts, stated in millions of dollars.
Accounts Payables
Accounts Receivable
Property, Plant, and Equipment
Cash and cash Equivalents
Research and Development Expense
Inventories
Instructions
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 and 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 Financial Statements Apple Financial Statements Apple Financial Statements Apple Financial Statements Apple Financial Statements

Solution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.

a) Increase, decrease and normal balance
1. The increase and decrease side for each account
Accounts Payables – increase on the credit side, and decrease on the debit side
Accounts Receivable – increase on the debit side, and decrease on the credit side...

This is only a preview of the solution. Please use the purchase button to see the entire solution

Assisting Tutor

Related Homework Solutions

Get help from a qualified tutor
Live Chats