Take a step back in time and imagine Apple in its infancy as a company. The year is 1976, and Steve Wozniak, Steve Jobs, and Ron Wayne are the organizing partners.
1. Read the history of Apple from 1976 to 1980 at Identify the founders of the company. The Apple 1 went on sale in July 1976 at what price?
2. Apple was originally organized as a partnership, but was later incorporated on January 3, 1977. Its income statement in Appendix A varies in several key ways from what it would look like for a partnership. Identify at least two ways in which the Apple corporate income statement differs from a partnership income statement. (Apple’s original partnership agreement is available at
3. Compare the Apple balance sheet in Appendix A to what a partnership balance sheet would have shown. Identify at least two accounts in the Apple corporate balance sheet that would not appear in a partnership balance sheet.

  • CreatedApril 23, 2015
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