The table below is an excerpt from Apple Inc.'s Statement of f Shareholders' Equity for its fiscal

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The table below is an excerpt from Apple Inc.'s Statement of f Shareholders' Equity for its fiscal year ended September 27, 2014:
The table below is an excerpt from Apple Inc.'s Statement

a. How would the auditor verify the balances as of September 28, 2013?
b. What would the auditor do to evaluate the amount shown as Net Income?
c. What sources of evidence might the auditor use to satisfy the occurrence objective for each of the following?
(1) Repurchase of common stock
(2) Share-based compensation
(3) Common shares issued
d. How should the amounts shown as of September 27, 2014, relate to the amounts shown in Apple's balance sheet as of the same date?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Auditing and Assurance services an integrated approach

ISBN: 978-0134065823

16th edition

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

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