question 1

What is the name of the companys Balance Sheet?

		A.Consolidated Statements of Financial Position
		B.Consolidated Statement of Operations
		C.Consolidated Balance Sheets
		D.Consolidated Statements of Income

Question 2

What is the meaning of "consolidated" in the name of the financial statements?

		A. It is a statement that shows the company is doing well.
B.		A statement that classifies the accounts into relevant groups and subgroups.
		C.It is a statement that compares data for two or more periods.
		D.The statement shows the combined activities of the subsidiaries of the company.

Question 3

What is the amount of cash and cash equivalents on hand and in bank accounts that the company has?

Question 4

What is the amount of goods the company acquired to resell to customers?

Question 5

What amount is owed to the company from customers? (Net of any allowances is fine.)

Question 6

Is their investment in Property, Plant and Equipment increasing or decreasing?

A.		Increasing
B.		Decreasing
C.		Stayed the same
D.		No information given

Question 7

How much did their investment in Property, Plant and Equipment increase or decrease? Be sure to use a comma, but no dollar sign or cents.

Question 8

What is the amount of Current Assets?

Question 9

What is Apples largest asset?

		A. Cash
B.		Short-term marketable securities
C.		Current Assets
D.		Long-term marketable securities

Question 10

What is the amount of liabilities that are due within one year or operating cycle?

Question 11

What is the amount of total liabilities?

Question 12

Did Retained Earnings increase or decrease from the prior year?

	A.	Increasing
	B.	Decreasing
	C.	Stayed the same
	D.	No information given

Question 13

How much did their Retained Earnings increase or decrease from the prior year? Be sure to use a comma, but no dollar sign or cents.

Question 14

What is the name of the companys Income Statement?

A.		Consolidated Statements of Financial Position
B.		Consolidated Statements of Operations
C.		Consolidated Balance Sheets
D.		Consolidated Statements of Income

Question 15

What are the total net sales?

Question 16

What is the cost of products sold?

Question 17

What is the gross margin?

Question 18

What is the amount of selling, general and administrative expense?

Question 19

What is the amount of net earnings/income for the current year?

Question 20

What is the dollar amount that net earnings/income has increased or (decreased) from the previous year? Remember use a comma, but no dollar sign or cents.

Question 21

What is the purpose of the Statement of Shareholder's Equity?

A.		Shows the changes to various equity accounts including common stock, retained earnings, accumulated other comprehensive income and total shareholders' equity.
B.		Shows how the changes to the cash and cash equivalents over the period covered.
C.		Shows the balances in the assets, liabilities and equity accounts.
D.		Shows the accounting policies selected and details not provided on the balance sheet.

Question 22

What is the beginning Retained earnings balance for the year ending Sept.29, 2012?

Question 23

What is the ending Retained earnings balance as Sept. 29, 2012?

Question 24

What are the reasons (items) that affected the change to the RETAINED EARNINGS account from Sept. 2011 to Sept. 2012?

A.		Net income
B.		Net Income and Dividends Declared
C.		Net Income, Dividends Declared and Common Stock issued under stock plans.
D.		Net Income, Dividends Declared, Changes in Foreign Currency Translations, and Common Stock issued under stock plans.

Question 25

What inventory method is used for inventories?

		A.FIFO
		B.LIFO
		C.WEIGHTED AVERAGE
		D.SPECIFIC IDENTIFICATION

Question 26

What depreciation method is used for Property, Plant and Equipment?

		A.Double Declining Balance
		B.Units of Production
	C.	Straight-line
		D.MACRS

Question 27

What is the estimated useful life for Buildings?

		A.2-5 years
		B.5 years
		C.10 years
		D.The lesser of 30 years or the remaining life of the underlying building

Question 28

What is the estimated useful life for Machinery and equipment ?

		A.Between 2-5 years
		B.5 years
		C.10 years
		D.The lesser of 30 years or the remaining life of the underlying building

Apple Inc. CONSOLIDATED STATEMENTS OF OPERATIONS On millors, optrumber of shares which are relected in thousands and per shore amounts) Bapter 28 September 28 September 23, 2020 2010 2018 5 Notes: Products Services Totalt 220,747 $ 58.70 274,515 213.2005 297 45.291 3.700 280.174 206. 151,26 18.273 160.00 104,956 1646 18.786 181,182 190 148.164 15.502 163790 101 Goet gt pules Products Services Total cost of Gross margin Operating Pearch and development Seling.gracal and administrative Total operating perces Opening incre Other incompetent Income before provision for Income Provision for incontes Nut income 18,750 19,916 38.000 18.217 18 245 3452 14.20 16. Os 30. 86,286 80s 67001 9.680 57,411 83.330 1.807 737 10.491 56 256 S 70. 2005 72,000 12.12 56,531 mings per te 301 $ 2.995 2.97 3.00 2.50 Deulod Share and in computing suming per share: Basic 17.322,119 Duted 17,629.254 Sue comparing Consolidated Financial 19,121,510 1.56.661 20.000,436 Apple nel 2020 Fom 10K 131 Apleine CONSOLIDATED BALANCE SHEETS in millions, repuber of share which are reflected in thousands and paralel September 200 Seber 2008 ASSETS: $ Current Cash and cash Quilts Marketable securities Accounts receivable, niet Inwes Vendor non-do Other current Totalcument assets 38,016 $ 52,90 16,120 4,061 21,325 11,264 143718 51718 22.826 4.106 22.878 162.819 Non-cument Marketable securities Property, plant and equipment, net Other curs Total non-cumon Total 100,7 35,786 42.622 180,175 23 106.21 37 378 32.78 17 31518 LIABILITIES AND SHAREHOLDERS' EQUITY: Current Accounts payable Oheroument abilities Defender Carucippu Term debt Total current abilities 220 684 6.648 4,986 8,779 103,29 37,720 5.192 5.900 10.200 106.710 Non-current Turm date Other non-current Total cuore Total abilities 39.00 5430 153,157 20.50 91,07 5050 142.310 . Comments and can Shareholders' equity Carrmon stock and additional paid in capital, 80.00001 par value 50,400.000 shares authorized 16,978,763 and 17,772,845 shares issued and outstanding respectively Pandang Accumulated the comprehensive income Total shareholders' equity Total abilities and shareholders' equilty Sergio Correder 30.770 14.956 (406) 45,17 45.00 1584 4 201510 30 303 AM Apple Tree For OKI Apple Inc. CONSOLIDATED STATENENTS OF SHARDHOLDERS' EQUITY ihn milions, except per share amounts) Yousanded Beptember 2, September ser 2020 2010 2016 $ 90,488 107.1473 100 Total standere uity beginning blues Common stock and anal poid-in capital Beginning barcos Commons Common stock withold mined to not store serant of equity Share-based commission Ending balances 45,174 880 40.201 781 36.87 800 (1.77 12,250 6,95 50.779 2,000 4,194 45.174 40201 45, 57411 70.400 56.256 (14.12 50 113.735 Retained Beginning balance Net income Dividends and dividend equivalent declared Common lock with led to not share soment of equity ada Correton lock purch Curruisine eledes at changes in accounting principle Ending balances kader comprehensive income Beginning balances Other comprehensive income! Cumulative cols of changes in accounting principles Ending balance 11,600 (72,5160 (136) 14.966 (1.02 (87,101) 2.501 45 18 073.00 2ra 70,400 (150 1584) 42 2.781 89 (584 1270 1.450 90483 107,147 Total shareholders'yanding bal 65,3305 Dividence and dividend equivalent declared per share or RSU 0.746 5 Se accompanying Netto Corseddated Financial Statement 0.75 0.69 Apple Tree For OKI Apple Inc. Notes to Consolidated Financial Statements Note 1 - Summary of Significant Accounting Policies Besla al Presentation and Preparation The consolidated financial statements include the accounts of ople Inc and its wholly owned subsidiaries collectively anley of the Company intercompany accounts and transactions have been eliminated in the opinion of the Company's management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for tar financial statement preservation. The preparation of these consolidated financial statements and accompanying notes in conformity with u.8. generally accepted accounting principles requires management to make estimates and assumption that elect the amounts reported. Actual results could offer materially from those estimates. Certain prior period amounts in the coded financial statements and accompanying notes have been relied to conform to the current periods pron The Company's fiscal year is the 52- or period that ends on the last Saturday of Setember, The Company's focal years 2020, 2019 and 2018 spanned 52 weeks each. An additional work is included in the first cal quarter weryths or ste years to resign the Company's focal quarters with older res Une chwisted, mences to partyears, quarters, months and periods refer to the Company's scal years ended in September and the dated stor months and periods of those focal years Common Stock split On August 28, 2020, the Company affected a four barna stock to shareholders of record as of August 24, 2020. All share estadounit rRSU) and per share or per RSU information has been retroactively adjusted to reflect the stock split Recently Adopied Accounting Pronouncements Leases At the beginning of the first quarter of 2000, the Company adopted the Frencial Accounting Standarde Bourd's the TASS Accounting Standards Update AS No. 2016-c. Toe 2 TASU 2016-02"), and scral Assad och and update the guidance in ASU 2016-2 (collectively. therwisandard), which made accounting for to Increase transparency and comparably by moorings wat and be for sporting and deding kay information about losing aangements. The Company stopied the names standarditing the modified retrospective transition method, under which amounts in prior periods presented were not related for dig the time of adoption, the Company elected to not whether or combination, and initial direct cosis Upon adoption the Company recorded $75 bilion right (ROU) and $2.1 billion and on Condensed Consolidated Balance Sheet Hedging At the beginning of the quarter of the Company adapted FASE ASU No. 2017-12. Derivative and Hedge Top 18 Yargeted improvement to Accounting for Hedging Activos CASU 2017-12) ASU 2017-12 expands component and tai walde hedging species the presentation of the act of hedging instruments, eliminates the separate measurement and pritional hedge ineffectiveness and updates declosure requirements related to hedging. The Company adopted ASU 2017-12 tizing the modified frospective transition method. Upon adoption, the Company recorded a $138 milion increase in accumulated the comprehensive incontroC) and a corresponding decrease in retained earnings in the Condensed Cormicided Statement of Shareholders Equity Advertising Coats Advertising costs and as loured and included in garal and administrative Share-Based Comparation The Company penerally measures share-based compensation based on the closing price of the Company's common stock on the date al grant, and recognizes purse on a straight line basis for its estimate of equity awards that wil ultimately yet Further information regarding share-based compensation can be found in Norte 0. Senefit Plans Apple Inc. For OKIM Earnings Per Share The following while shows the computation of basic and diluted comings per share for 2000, 2019 and 2018 net income in milions and share in thousands 2019 Numerator Net income 574115 562565 2011 Denom Weighted average basic shares outstanding 17.252,119 18.471,336 10,121.510 Eroot of dilutive securities 175,096 124,315 Weighted average died shares 17.628,214 18.585,651 20.000495 Basic aming per share 8.31 2.90 8.00 Diluted aming per share 3.25 2.97 $ The Company plus the reasy stockathod to hermine the dative effect of potentially the soutie. Potentially dutive presenting 2 million shares of common stock were excluded from the computation of duted earnings per are for 2019 because her affect would have been adduve. Cash Equivalents and Maritable Securities All Nighty Biquid imasiments with matures of three months or less at the date of purchase and disted crash equwwarta. The Company's mostres in marketable de curtos e bandited and accounted for severe. The Company does markedet me what shoe-m or long-lambdach na nying contractual matury Urdained on marketable del cred as before are recognized in other comprensivo Coch. The Company's main may we are cod besed on the nature of the securities and the waliability for use in cur operation. The Company's marketable equity Secuies are measured at fair walu w gains and recoged in other incomparate The cost of securities sold is determined using the specification method Inventories mentories are measured using the entirst-out method Property, plant and Equipment Depreciation on property, plant and equipment is recognized on a straighine basis over the estimated well as of the assets. which for buildings is the lesser of 40 years or the remaining He of the building between one and five years for machinery and quinient, including product tooling and manufacturing process equipment and the shorter of lease term or a life for Weld improvernos Capitalized costs led to internal use software are amortized on a straight-in basis over the maled se lives of the assets, which sage from the seven years. Depreciation and amortization pense on property and equipment was $2.7 bilion, $11.3 billion and 39.8 bilion during 2020, 2018 and 2018, respectively Non-cash investing activities olving property, plant and equipment resulted in a rather turta payle and other current obfes at 12:00 bilion and $3.4 billion during 2013 and 2010, napedively Aspere. For K3