Decoding Apple ’s Balance Sheet In March of 2009‚ Apple had its best March quarter revenue and earnings in Apple history (Apple). In order to see how this occurred‚ it is important to look over the financial statements of Apple. There is a lot of information available to investors who are interested in investing in a company. By looking specifically at the balance sheet of Apple I am going to determine if investing in Apple is a good idea or a bad idea. Some things I am going to consider are
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500 Depreciation 28‚500 Other 45‚000 Total Expenses 275‚340 ------------------------------------------------- Net Income $246‚660 Grennell Farm Balance Sheet (Sales/Delivery Method) ------------------------------------------------- Year Ending December 31‚ 2009 Assets Liabilities Current Assets Total Liabilities 33‚000 Cash 30‚900 Paid-In Capital 450‚000 Inventory 92‚100 Common Stock 7‚500 A.R. 59‚600 Long-Term Assets Retained
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stock since the early 1980s. As you know‚ our portfolio people place a lot of emphasis on the quality of a company’s earnings and the return on owners’ equity in making stock selections. Well‚ they are worried. The 1994 Basic Industries annual report shows a decline in the return on owners’ equity. Now‚ they want us to comment on the way that the company has achieved its return on equity over the last 10 years‚ starting with 1985. I would like you to prepare this analysis. I suggest you forget the strike
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ACCOUNTING FOR INTANGIBLE ASSETS “WHY NOT ELIMINATE GOODWILL?” INTRODUCTION The Balance Sheet is one of the financial statements necessary to help different kinds of individuals – owners of enterprises‚ management of companies‚ analysts‚ creditors‚ inventors in making business decisions. It is a statement that tells about the financial position of the company. It encompasses the three main elements of the accounting equation – the assets‚ the liabilities and owner’s equity. The assets are
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statement and balance sheet. Their preparation is also desirable but not compulsory. However‚ they are generally prepared. In the case of trading concern‚ a trading account and in the case of a manufacturing concern‚ a manufacturing account and a trading account can also be prepared. In such a case‚ the account heading is mentioned as follows: Manufacturing/trading and profit and loss account. In the case of joint stock companies’ preparation of the profit and loss account and balance sheet every year
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June 1‚ 2011 to June 30‚ 2011 Revenues Sales Revenue $7000 Expenses Wage expense $1400 Supplies expense $1000 Gas and Oil expense $ 600 Advertising expense $ 400 Utilities expense $300 Total Expenses $3700 Net Income $3300 __________________________________________________________________________ Eckersley Service Company Retained Earnings Statement For the period June 1‚ 2011 to June 30‚ 2011 Retained
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accounts payable owed as of the balance sheet date are included in the financial statements- Completeness(Do the balances contain all transactions for the period) 3. All purchase returns recorded in the general ledger are valid- Existence/Occurrence(Do the recorded accounts represent valid liabilities at the balance sheet date) 4. There is a risk that purchases made in the last week of the month might be recorded in the following period- Completeness(Do the balances contain all transactions for
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cash flows in the current period. T158. Revenue cannot be recognized unless delivery of goods has occurred or services have been rendered. F159. Accrual accounting recognizes revenues and expenses at the point that cash changes hands. F160. A deferral is the recognition of an expense that has arisen but has not yet been recorded. T161. Adjusting entries are useful in apportioning costs among two or more accounting periods. T162. An adjusting entry includes at least one balance sheet account and at least
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and use the debit part where they are automatically able to withdraw from your checking account. You’re able to sign up for this program and still receive your 5 percent off with every purchase at target also. 1. The firm’s auditors are Roxanne S. Austin and Douglas M. Baker. (Target 2012 Annual Report‚ 2012‚ p.77). Mrs. Austin is also part of the financing for the firm. (Target 2012 Annual Report‚ 2012‚ p.77). Mr. Baker is apart of the nominating and governance for the firm. (Target 2012 Annual
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The decision to change your accounting software is not one to be taken lightly. The initial recognition that there is a need for change‚ including a full review of the current system‚ can itself be a long process. Then there is the task of selecting the right package for your business from the vast array on offer - making the wrong decision can have detrimental effects on your business. This briefing is designed to give you some helpful advice on what you should be looking out for throughout
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