Book value of fixed assets Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Book value of fixed assets Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Accumulated depreciation and amortization Current Year Preceding Year $17,085 $16,216 69,797 65,982 9,075 8,205 (58,579) (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value (in millions) $ Preceding year book value (in millions) A comparison of the book values of the current and preceding years indicates that they additional depreciation expense of $ million taken during the current year. b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? . A comparison of the total cost and accumulated depreciation reveals that Apple purchased: million of additional fixed assets, which was offset by the Book value of fixed assets Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Accumulated depreciation and amortization Current Year Preceding Year $17,085 $16,216 69,797 65,982 9,075 8,205 (58,579) (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. Current year book value (in millions) $ Preceding year book value (in millions) A comparison of the book values of the current and preceding years indicates that they additional depreciation expense of $ million taken during the current year. b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? . A comparison of the total cost and accumulated depreciation reveals that Apple purchased: million of additional fixed assets, which was offset by the
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
ME-1" Ltd. acquired 80% equity shares of You-2nd Ltd. on 30/04/2020 for a cost of GHS60,000. At that time the general reserves were GHe6,000 respectively.
-
Which of the following statements would be acceptable in a performance evaluation? Even though Jacquie was out on a few religious retreats, she exceeded June sales goals by 10 percent. Although a...
-
Perez Construction Inc. provided the following information about the sale of property, plant, and equipment during two recent years: Required: 1. Determine the cash flow from the sale of equipment...
-
On November 9, 2011, Dean Foods a Dallas Texas-based food and beverage company, announced that it would write off \($1.6\) billion, net of tax, in goodwill associated with its Fresh Dairy Direct...
-
On January 2, 2008, P Company, a U.S.-based company, acquired for 2,000,000 francs an 80% interest in SFr Company, a Swiss company. On January 2, 2008, SFr Company reported a retained earnings...
-
The ABC Company has net written premiums in the amount of $4.12 billion and a policyholders' surplus of $2.84 billion. LMN Inc. has net written premiums in the amount of $9.85 billion and a...
-
A new management information system MIS department manager had been hired to run the department, he was up to plan with the restructure of the department regarding adopting new software technology...
-
In the public debate over ratification of the NorthAmerican Free Trade Agreement, Ross Perot said he heard agiant sucking sound from U.S. jobs headed south because oflow wage rates in Mexico. Using...
-
What other industries can you think of that fit one of the three patterns noted in the opening paragraph? The U.S. market for computers is dominated by domestic firms such as Dell, Hewlett-Packard,...
-
Do some theories work better than others for different industries? Why? The U.S. market for computers is dominated by domestic firms such as Dell, Hewlett-Packard, and Apple. The U.S. market for...
-
Based on what you know about the Japanese and Korean markets, decide whether the same pattern of competitiveness that exists in the United States for the computer, consumer electronics, and...
-
Do the same theories work as well in making predictions for those industries? The U.S. market for computers is dominated by domestic firms such as Dell, Hewlett-Packard, and Apple. The U.S. market...
-
Your client makes food products that are sold fresh every day. They sell everything, and any leftovers are donated. Which type of item should be used to track the sales of the food products? Choose...
-
The Place-Plus real estate development firm in Problem 24 is dissatisfied with the economists estimate of the probabilities of future interest rate movement, so it is considering having a financial...
-
Graham Corporation used the following data to evaluate its current Kin operating system. The company sells items for \($10\) each and used a budgeted selling price of \($10\) per unit. a. Prepare the...
-
Selected data for Miller Company, which operates three departments, follow: During the year, the companys fixed expenses included the following: Assume that the property tax rate is the same for both...
-
Johnson Company has two sources of funds: long term debt and equity capital. Johnson Company has profit centers in the following locations with the following net incomes and total assets: a....
Study smarter with the SolutionInn App