Use Apples financial statements in Appendix A to answer the following. 1. Identify the total amount of
Question:
Use Apple’s financial statements in Appendix A to answer the following.
1. Identify the total amount of cash and cash equivalents for fiscal years ended (a) September 30, 2017, and (b) September 24, 2016.
2. Compute cash and cash equivalents as a percent (rounded to one decimal) of total current assets, total current liabilities, total shareholders’ equity, and total assets at fiscal year-end for both 2017 and 2016.
3. Compute the percent change (rounded to one decimal) between the beginning and ending year amounts of cash and cash equivalents for fiscal years ended (a) September 30, 2017, and (b) September 24, 2016.
4. Compute the days’ sales uncollected (rounded to one decimal) as of
(a) September 30, 2017,
(b) September 24, 2016.
5. Does Apple’s collection of receivables show a favorable or unfavorable change?
Financial StatementsFinancial 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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millions 1 a 20289 b 20484 2 millions Balance September 30 2017 Cash and equivalents as of Balance S...View the full answer
