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.
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.
Transcribed Image Text:
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
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