The financial statements of Apple Inc. are presented in Appendix A at the end of this textbook.

Question:

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

Instructions
a. Using the consolidated financial statements and related information, identify items that may result in adjusting entries for prepayments.
b. Using the consolidated financial statements and related information, identify items that may result in adjusting entries for accruals.
c. What has been the trend since 2013 for net income?

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...