Question

In: Accounting

Answer the following for APPLE INC Income Statement Did its revenue (or sales) increase or decrease...

Answer the following for APPLE INC

Income Statement

Did its revenue (or sales) increase or decrease over the last year?

Describe the company's revenue recognition policy.  

Did its cost of goods sold increase or decrease over the last year?

Did its net income increase or decrease over the last year? By how much?

Balance Sheet

Did its total assets increase or decrease over the last year?

Cash Flow Statement

Did the company have a cash inflow or outflow from operating activities? What two major item(s) reported in operating activities caused the major inflow and the major outflow?

Was there total inflow or outflow of cash, what did this most relate to (Investing, Financing or Operating)?

Solutions

Expert Solution

Ans: we have taken reference for year ended on september 30,2017 and september 30,2016.

1. Its revenue (or sales) increase from the last year. In 2017 it was 229234 million and 2016, it was 215,639 milllion.

2. Net sales consist primarily of revenue from the sale of hardware, software, digital content and applications, accessories, and service and support contracts. The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable and collection is probable. Product is considered delivered to the customer once it has been shipped and title, risk of loss and rewards of ownership have been transferred. For most of the Company’s product sales, these criteria are met at the time the product is shipped.

Ans 3: Cost of goods Sold also increased from 2016 in 2017.

   2016: 131,376 million

   2017: 141,048 million

Ans 4: Net Income Increased from last year by $ 2664 million.

Ans 5: Total asset increased as compared to last year.

                 2016: 321686

                 2017: 375319.

Ans 6: Company had a cash outflow from operating activities. Two major items were purchase of marketable securities and payment for acquisition of plant and equipments.

Ans7: Operating activities. total net inflow from operating activities were 63,598 million.

ekkarill92 answered 11 months ago
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