Review the Apple, Inc. Annual Report
Complete the Apple Annual Report Review Questions spreadsheet –
20 questions to complete please make sure you read the directions before you answer the numerical questions.
The information to the Applw Review will be attached at the bottom of the project plus the review questions that has to be answered on the spreadsheet. Do not worry about question 0.
ACC 561 – Week 1 Individal Assignment – Apple Annual Report Review
*Note: Each question is worth 5 points (except question 0)
*Note: Type only in yellow boxes and DO NOT change the formatting of this file!
IMPORTANT!: All numerical answers must be written out in long form. For example, you will not receive credit if you write 14 billion or $14B. The correct response required to receive credit would be $14,000,000,000 or $14,000,000,000.00.
IMPORTANT!: Please see post in Class Messages from your instructor BEFORE you begin this assignment.
0 ) What is your name? Additionally, rename the tab “Put Your Name Here” with YOUR name. Ex: “Jared Jones”
1 ) Which CPA Firm audits Apple’s financial statements?
2 ) What is the most recent fiscal year end reported on Apple’s financial statements? (Month, Day, Year)
3 ) How many years are presented on the Consolidated Statements of Operations?
4 ) How many years are presented on the Consolidated Balance Sheets?
5 ) Are Apples financial statements reported in thousands, millions or billions of dollars?
6 ) As per the question above, if Apple’s cash and cash equivalents were reported on the financial statement as $13,844, how would you write out that number in long form?
7 ) What is apple’s Net Income for the most recent year ended? (Write it out in Long form)
8 ) How much income tax did Apple pay in cash for the most recent year ended? (Write it out in Long form)
9 ) There is a difference between Net Income and Comprehensive Income. What is Apple’s Total Comprehensive Income for the most recent year ended? (Write it out in Long form)
10 ) There are three specific items that make up the difference between Net Income and Comprehensive Income. Name one of the three items.
11 ) What is Apple’s Total Assets for the most recent year ended? (Write it out in Long form)
12 ) What is Apple’s Long Term Debt for the most recent year ended? (Write it out in Long form)
13 ) How much cash was generated only by operating activities for the most recent year ended? (Write it out in Long form)
14 ) What does Note 4 to the financial statements pertain to?
15 ) Name one corporate officer (and his/her title) that signed and certified that the financial statements are presented fairly?
16 ) According to the report, if I invested $100 in Apple stock in September of 2009, how much would it be worth in September of 2014?
17 ) According to the report, how many iPhones ( in units) did Apple sell in 2014? (Write it out in Long Form)
18 ) For 2014, what was the percentage (%) of total net sales in Greater China?
19 ) Note 10 to the financial statements mentions two different lawsuits involving Apple, Inc. Name one of the two companies which has legal proceedings involving Apple.
20 ) Did Apple record any loss or gain in its financial statements as a result of either of these lawsuits? (Answer with a “Yes” or “No” ONLY.)
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