Question

Start your research by referring to Apple’s fiscal 2016 (September 24, 2016) in Appendix A of Wild Financial Accounting 9 edition textbook. Find the financial statement that lists the number of shares of common stock authorized, issued and outstanding. Note the name of that financial statement to include in your post. Here are the number of share information you should locate in the textbook Appendix: Authorized: 12,600,000 Issued and outstanding 9/24/2016 5,336,166 Issued and outstanding 9/26/2015 5,578,753 How to find Apple’s fiscal 2018 annual financial statements. Suggested steps to follow: Search for Apple Investor Relations, SEC Filings, Annual Filings, 10-K. For fiscal year-end 9/29/2018 and 9/30/2017 answer the following questions. Name of the financial statement you are finding this information on (see above background) How many shares of common stock are authorized? How many shares of common stock are issued and outstanding for 9/29/2018? How many shares of common stock are issued and outstanding for 9/30/2017? If a financial statement reader wants to see the detail of change in a number of shares of stock from the beginning of each year to the end of each fiscal year, which financial statement would he/she refer to? Explain why Apple’s fiscal year-end does not always fall on the same day. Hint: Apple’s 10-K Part I, Item 1..

Answer 1

Name of the financial statement you are finding this information on: Balance Sheet

How many shares of common stock are authorized? 12,600,000

How many shares of common stock are issued and outstanding for 9/29/2018? 4,754,986

How many shares of common stock are issued and outstanding for 9/30/2017? 5,126,201

If a financial statement reader wants to see the detail of change in a number of shares of stock from the beginning of each year to the end of each fiscal year, which financial statement would he/she refer to? Statement of Shareholder’s equity

Explain why Apple’s fiscal year-end does not always fall on the same day: This is because the company follows a fiscal year which can be 52 week or 53 week period that ends on last Saturday of September. Now the date for last Saturday of September will obviously change each year and hence Apple’s fiscal year-end does not always fall on the same day.