Inferring Balance Sheet Changes from the Cash Flow Statement (In direct Method)
A recent statement of cash flows for Apple contained the following information (dollars in millions):
Operations | |
Net income | $11,875 |
Depreciation | 703 |
Changes in assets and liabilities |
|
Accounts receivable | (939) |
Inventories | 54 |
Other current assets | (1,050) |
Accounts payable | 92 |
Deferred revenue | 6,908 |
Other current liabilities | (184) |
Other adjustments | (7,300) |
Cash generated by operations | $10,159 |
Required:
For each of the asset and liability accounts listed on the statement of cash flows, determine whether the account balances increased or decreased during the period.
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