Question: Q1) The basic accounting equation is Assets 5 Liabilities 1 Owners equity. Replacing the words in that equation with dollar amounts, what is Apples accounting

Q1)

The basic accounting equation is Assets 5 Liabilities 1 Owners equity. Replacing the words in that equation with dollar amounts, what is Apples accounting equation at September 24, 2013? (Hint: Owners equity is equivalent to shareholders equity.)

Q2)

A companys net income appears directly on the income statement and the owners equity statement, and it is included indirectly in the companys balance sheet. Do you agree? Explain

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