EXPAND YOUR CRITICAL THINKING Financial Reporting FINANCIAL REPORTING PROBLEM: A

Question

EXPAND YOUR CRITICAL THINKING Financial Reporting FINANCIAL REPORTING PROBLEM: Apple Inc. CT10-1 Refer to the financial statements of Apple Inc. in Appendix A. Instructions Answer the following questions. (a) What were Apple's total current liabilities at September 27, 2014? What was the increase/decrease in Apple's total current liabilities from the prior year? (b) How much were the accounts payable at September 27, 2014? (c) What were the components of total current liabilities on September 27, 2014 (other than accounts payable already discussed above)?

Explanation / Answer

Annswer =A) Total Current Liabilities at September 27, 2014 = $         63,448 Less : Total Current Liabilities at September 27, 2013 = $         43,658 Changes in Current liabilities = $         19,790 So, Total Current Liabilities at September 27, 2014 = $         63,448 Increase in current liabilities from the prior year = $         19,790 Answer = B) Account Payable at September 27, 2014 = $   30,196.00 Answer = C) Current liabilties other then account payable is as below, Accrued Expenses = $   18,453.00 Deferred Revenue = $     8,491.00 Commercial Paper = $     6,308.00 Total Current laibiltiies other then account payable= $   33,252.00

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.