On July 1, 2015, the Company accepted for repurchase $794 million aggregate principal amount of certain...
On July 1, 2015, the Company accepted for repurchase $794 million aggregate principal amount of certain of its outstanding debentures (the “Debentures”) validly tendered and not withdrawn. Pursuant to the terms of its previously announced cash tender offers, the Company paid aggregate total consideration of $961 million for the Debentures accepted for repurchase. In September 2015, the Company redeemed $141 million of its 5.45% outstanding debentures for $156 million. These cash tender offers and the debt redemption were financed by the Euro-denominated debt issued on June 24, 2015. The Company recognized a debt extinguishment charge of $189 million, including transaction expenses of $7 million,
In the quarter ended September 30, 2015 pertaining to these transactions / the bond has an interest rate of 5.45%
a. Describe this transaction in accounting terms.
b. What was the gain or loss on this transaction? Using the financial statements, reconstruct the journal entry for the repurchase of the bonds.
c. Were the bonds issued at a premium or a discount? Estimate the effective yield on the bonds issue
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On July 1, 2015, the Company accepted for repurchase $794
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Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
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