The financial statements of Apple Inc. are presented in Appendix A. The complete annual report, including the

Question:

The financial statements of Apple Inc. are presented in Appendix A. The complete annual report, including the notes to the financial statements, is available at the company’s website.

Instructions

Answer the following questions.

a. What were the total cost and book value of property, plant, and equipment at September 30, 2017?

b. Using the notes to the financial statements, what method or methods of depreciation are used by Apple for financial reporting purposes?

c. What was the amount of depreciation and amortization expense for each of the 3 years 2015–2017?

d. Using the statement of cash flows, what are the amounts of property, plant, and equipment purchased in 2017 and 2016?

e. Using the notes to the financial statements, explain how Apple accounted for its intangible assets in 2017.

Intangible Assets
An intangible asset is a resource controlled by an entity without physical substance. Unlike other assets, an intangible asset has no physical existence and you cannot touch it.Types of Intangible Assets and ExamplesSome examples are patented... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...

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