The following accounts (in millions) were adapted from the financial statements of Apple Computer, Inc., for the
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The following accounts (in millions) were adapted from the financial statements of Apple
Computer, Inc., for the year ending September 25, 2004:
(a) Identify each account as either a balance sheet account or an income statement account.
(b) For each balance sheet account, identify it as an asset, a liability, or stockholders' equity. For each income statement account, identify it as a revenue or an expense.
(c) Indicate the normal balance of theaccount.
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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Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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