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 current liabilities as of September 30, 2017, and
as of September 24, 2016.
5. Did Apple’s liquid assets as a percentage of
current liabilities improve or worsen as of its fiscal 2017
year-end compared to its fiscal 2016 year-end?
Homework Answers
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| Apple | ||
| Answer 1 | ||
| What is the amount of Apple’s accounts receivable as of September 30, 2017? | ||
| $ 17,874 millions. | ||
| Answer 2 | ||
| Accounts Receivable Turnover | ||
| 2017 | ||
| Sales | 229,234.00 | |
| Average Account Receivable | 2017 | 2016 |
| Account Receivable Net | 17,874.00 | 15,754.00 |
| Average Account Receivable | 16,814.00 | |
| Accounts Receivable Turnover | 13.63 | |
| Sales/Average Accounts Receivable | ||
| Ans 3 | ||
| Number of days to collect receivables | 26.77 | |
| 365/Accounts Receivable Turnover | ||
| Ans 4 | 2017 | 2016 |
| Cash and cash equivalents | 20,289.00 | 20,484.00 |
| Short-term marketable securities | 53,892.00 | 45,571.00 |
| Accounts receivable | 17,874.00 | 15,754.00 |
| Inventory | 4,855.00 | 2,132.00 |
| Most liquid assets | 96,910.00 | 83,941.00 |
| Total current liabilities | 100,814.00 | 79,006.00 |
| Liquid assets % of current liabilities | 96.1% | 106.2% |
| Ans 5 | ||
| Apple’s liquid assets as a percentage of current liabilities has worsened as of its fiscal 2017 year-end compared to its fiscal 2016 year-end as it has gone down from 106.2% to 96.1%. | ||
Add Answer to:
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2....
Required: 1. What is the amount of Apple's accounts receivable as of September 30, 2017? 2....
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...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Inc., a company that designs, manufactures, and markets mobile communication and media devices and personal computers; sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: 2017 2016 Net sales $ 229,234 $ 215,639...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Ic., a company that designs, manufactures, and markets mobile communication and media devices and personal computers; sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: Net sales 2017 2016 $ 215,639 $ 229,234 Costs...
Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 30, 2017 48,351 Years ended September...
Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 30, 2017 48,351 Years ended September 24, 2016 45,687 September 26. 2015 53,394 $ Net income Other comprehensive income/loss): Change in foreign currency translation, net of tax effects of $(77), $8 and $201, respectively 224 75 (411) 1,315 2,905 Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(478), $(7) and $(441), respectively Adjustment for net (gains) losses realized and included...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Inc., a company that designs, manufactures, and markets mobile communication and media devices and personal computers; sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: 2017 2016 Net sales $ 229,234 $ 215,639...
Assume that one of the fixed assets listed in Apple’s 2017 balance sheet will be disposed...
Assume that one of the fixed assets listed in Apple’s 2017 balance
sheet will be disposed of. Please provide the journal entry for the
disposition of that asset. (You may have to look in the notes to
the financial statements to see what the amount of accumulated
depreciation is.) Next, assume that the company will sell the fixed
asset for a gain of $20,000. Please provide the journal entry for
the sale of that asset at a $20,000 gain.
Note...
At September 26, 2015, total assets were $290,345 and total shareholders’ equity was $119,355. Required: Calculate...
At September 26, 2015, total assets were $290,345 and total
shareholders’ equity was $119,355.
Required:
Calculate Apple Inc.’s working capital, current ratio, and
acid-test ratio at September 30, 2017, and September 24, 2016.
Calculate Apple’s ROE for the years ended September 30, 2017,
and September 24, 2016.
Calculate Apple’s ROI, showing margin and turnover, for the
years ended September 30, 2017, and September 24, 2016.
The following summarized data (amounts in millions) are taken from the September 30, 2017, and...
September 24, 2016 $ Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which...
September 24, 2016 $ Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 30, 2017 ASSETS Current assets Cash and cash equivalents 20,289 Short-term marketable securities 53.892 Accounts receivable, less allowances of $58 and $53, respectively 17,874 Inventories 4,855 Vendor non-trade receivables 17.799 Other current assets 13,936 Total current assets 128,645 Long-term marketable securities 194,714 Property, plant and equipment, net 33,783 Goodwill 5,717 Acquired intangible assets, net 2,298 Other...
2017 $ 229, 234 114,048 61,344 $ 48,351 2016 $ 215, 639 131,376 60,024 $ 45,687...
2017 $ 229, 234 114,048 61,344 $ 48,351 2016 $ 215, 639 131,376 60,024 $ 45,687 (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: Net sales Costs of sales Operating income Net income At Year End: Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowance of $58 and $53, respectively Inventories Vendor nontrade receivables Other current assets Total current assets Long-term marketable securities Property, plant, and equipment, net...
Questions: Report: Apple Inc. - Analysis of Fiscal 2017 Annual Report Apple Inc. is an American...
Questions:
Report:
Apple Inc. - Analysis of Fiscal 2017 Annual Report Apple Inc. is an American multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. The company's hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, and the Apple Watch smartwatch. Apple's consumer software includes the macOS and iOS operating systems, the iTunes media player, and the Safari web browser. Its online services include...
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...
The following summarized data (amounts in millions) are taken from the September 30, 2017, and September 24, 2016, comparative financial statements of Apple Ic., a company that designs, manufactures, and markets mobile communication and media devices and personal computers; sells a variety of related software, services, accessories, networking solutions, and offers third-party digital content and applications: (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: Net sales 2017 2016 $ 215,639 $ 229,234 Costs...
Apple Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) September 30, 2017 48,351 Years ended September 24, 2016 45,687 September 26. 2015 53,394 $ Net income Other comprehensive income/loss): Change in foreign currency translation, net of tax effects of $(77), $8 and $201, respectively 224 75 (411) 1,315 2,905 Change in unrealized gains/losses on derivative instruments: Change in fair value of derivatives, net of tax benefit/(expense) of $(478), $(7) and $(441), respectively Adjustment for net (gains) losses realized and included...
Assume that one of the fixed assets listed in Apple’s 2017 balance
sheet will be disposed of. Please provide the journal entry for the
disposition of that asset. (You may have to look in the notes to
the financial statements to see what the amount of accumulated
depreciation is.) Next, assume that the company will sell the fixed
asset for a gain of $20,000. Please provide the journal entry for
the sale of that asset at a $20,000 gain.
Note...
At September 26, 2015, total assets were $290,345 and total
shareholders’ equity was $119,355.
Required:
Calculate Apple Inc.’s working capital, current ratio, and
acid-test ratio at September 30, 2017, and September 24, 2016.
Calculate Apple’s ROE for the years ended September 30, 2017,
and September 24, 2016.
Calculate Apple’s ROI, showing margin and turnover, for the
years ended September 30, 2017, and September 24, 2016.
The following summarized data (amounts in millions) are taken from the September 30, 2017, and...
September 24, 2016 $ Apple Inc. CONSOLIDATED BALANCE SHEETS (In millions, except number of shares which are reflected in thousands and par value) September 30, 2017 ASSETS Current assets Cash and cash equivalents 20,289 Short-term marketable securities 53.892 Accounts receivable, less allowances of $58 and $53, respectively 17,874 Inventories 4,855 Vendor non-trade receivables 17.799 Other current assets 13,936 Total current assets 128,645 Long-term marketable securities 194,714 Property, plant and equipment, net 33,783 Goodwill 5,717 Acquired intangible assets, net 2,298 Other...
2017 $ 229, 234 114,048 61,344 $ 48,351 2016 $ 215, 639 131,376 60,024 $ 45,687 (Amounts Expressed in Millions) For the Fiscal Years Ended September 30 and September 24, respectively: Net sales Costs of sales Operating income Net income At Year End: Assets Current assets: Cash and cash equivalents Short-term marketable securities Accounts receivable, less allowance of $58 and $53, respectively Inventories Vendor nontrade receivables Other current assets Total current assets Long-term marketable securities Property, plant, and equipment, net...
Questions:
Report:
Apple Inc. - Analysis of Fiscal 2017 Annual Report Apple Inc. is an American multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. The company's hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, and the Apple Watch smartwatch. Apple's consumer software includes the macOS and iOS operating systems, the iTunes media player, and the Safari web browser. Its online services include...
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