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:Financial Accounting: Tools for Business Decision Making

Note: The financial statements of Apple, Inc.are presented in Appendix A ofFinancial Accounting. Instructions for accessing and using the company's complete annual report, including the notes to the financial statements, are also provided in Appendix A.

Completea 1,050-word summary of findings and recommendations from the following questions:

• What were the total cost and book value of property, plant, and equipment at September 27, 2014?
• Using the notes to find financial statements, what method or methods of depreciation are used by Apple for financial reporting purposes?
• What was the amount of depreciation and amortization expense for each of the three years 2012-2014? (Hint: Use the statement of cash flows).
• Using the statement of cash flows, what are the amounts of property, plant, and equipment purchased in 2014 and 2013?
• Using the notes to the financial statements, explain in the summary how Apple accounted for its intangible assets in 2014.

Morris Lee ACC/291 ### Chapter 9 Financial Reporting Problem (a) (b) (c) (d) (e) 531 531 Chapter 9 Financial Reporting Problem Apple Inc. 531 531