Reading Apple Computer's Statement of Cash Flows The following items appeared in the Investing Activities section of
Question:
Reading Apple Computer's Statement of Cash Flows The following items appeared in the Investing Activities section of Apple Computer's 2008 statement of cash flows. (All amounts are in millions of dollars.)
Required
1. What amount did Apple spend in 2008 to purchase short-term investments? How does this amount compare to the amounts spent in the two prior years?
2. What amount did Apple receive from investments that matured in 2008? How does this amount compare to the amounts received in the two prior years?
3. The third line in the preceding excerpt reports proceeds from sales, rather than maturities, of short-term investments. Why would certain types of investments mature while others would besold?
Step by Step Answer:
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton