Use Apples financial statements in Appendix A to answer the following. 1. Identify Apples long-term debt as

Question:

Use Apple’s financial statements in Appendix A to answer the following.

1. Identify Apple’s long-term debt as reported on its balance sheet at (a) September 24, 2016, and (b) September 26, 2015.

2. Calculate the percentage change in long-term debt from September 26, 2015, to September 24, 2016.

3. If Apple’s reported long-term debt continues on the current trend, do we expect total interest expense to increase or decrease?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... 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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