The financial statements of Apple Inc. in Appendix A at the back of this textbook contain the

Question:

The of Apple Inc. in Appendix A at the back of this textbook contain the following selected accounts, all in thousands of dollars.
Common Stock...................................................$23,313
Accounts Payable.................................................30,196
Accounts Receivable.............................................17,460
Selling, General, and Administrative Expenses...............11,993
Inventories...........................................................2,111
Net Property, Plant, and Equipment...........................20,624
Net Sales.........................................................182,795
Instructions
(a) Identify the probable other account in the transaction and the effect on that account when:
(1) is decreased.
(2) is decreased.
(3) Inventories is increased.
(b) Identify the other account(s) that ordinarily would be involved when:
(1) is increased.
(2) Property, Plant, and Equipment is increased.
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... Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...