Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Obtain the 2020 annual report of Apple, Inc. from the investor relations portion of its website e. With regard to the statement of cash flows:

Obtain the 2020 annual report of Apple, Inc. from the investor relations portion of its website

e. With regard to the statement of cash flows:

i. What amount did Apple report for cash flow from operating activities for 2020?

ii. Is the trend in cash flow from operating activities consistent with the trends in net income?

iii. BONUS QUESTION. The computation of cash flow from operating activities starts with net income and ends with cash flow from operating activites. The items that explain or "reconcile" these two are items like depreciation and changes in accounts receivable or changes in inventory. Can you explain why these items are added and subtracted? Specifically, why is depreciation added; why is a reduction in accounts receivable added; and why is a decrease in accounts payable subtracted?

f. Who were Apples auditors? What does Apples audit report say about the companys financial statements (e.g, what type of things are included in the audit report)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Reporting and Analysis

Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon

6th edition

9780077632182, 78025672, 77632184, 978-0078025679

Students also viewed these Accounting questions