The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook.

Question:

The of Apple Inc. are presented in Appendix A at the end of this textbook. Instructions for accessing and using the company’s complete annual report, including the notes to the are also provided in Appendix A.

Instructions
Answer the questions below using Apple’s Consolidated Balance Sheets.
(a) What were Apple’s total current assets at September 24, 2011, and September 25, 2010?
(b) Are assets that Apple included under current assets listed in proper order? Explain.
(c) How are Apple’s assets classified?
(d) What was Apple’s “Cash and cash equivalents” at September 24, 2011?
(e) What were Apple’s total current liabilities at September 24, 2011, and September 25, 2010?

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...