a) What is commercial paper, and how does Apple use it? What is the value of the
Question:
a) What is commercial paper, and how does Apple use it? What is the value of the outstanding commercial paper on September 25, 2021? Use the balance sheet (statement of financial position) to confirm this. What is the cost (interest rate paid by Apple) of this form of financing?
b) How much new ‘term debt’ did Apple borrow in fiscal 2021? When will this new debt be repaid? Does this new debt pay fixed or variable rates of interest? What is the financing cost (interest rate) of the new ‘term debt’ added in fiscal 2021?
c) What is the total term debt outstanding on the balance sheet (statement of financial position) on September 25, 2021? Why is the term debt shown this way? Find the table of future principal repayments in Note 7. What is the purpose of this table?
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield