The financial statements of Apple Inc. in Appendix A contain the following selected accounts, all in thousands

Question:

The financial statements of Apple Inc. in Appendix A contain the following selected accounts, all in thousands of dollars.

Common Stock $ 40,201 Accounts Payable 55,888 Accounts Receivable 23,186 Selling, General, and Administrative Expenses 16,705 Inventories 3.956 Net Property, Plant, and Equipment 41,304 Net Sales 265,595


Instructions

a. Identify the probable other account in the transaction and the effect on that account when:

1. Accounts Receivable is decreased. 

2. Accounts Payable is decreased. 

3. Inventories is increased.

b. Identify the other account(s) that ordinarily would be involved when:

1. Common Stock is increased. 

2. Property, Plant, and Equipment is increased.

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Related Book For  book-img-for-question

Survey Of Accounting

ISBN: 9781119594536

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt

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