Apple Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables,...

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Accounting

Apple Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services.

 The following is Apple's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September).

APPLE INCORPORATED
CONSOLIDATED BALANCE SHEET
September 28, 2019
(dollars in millions)
ASSETS
Current assets:
Cash$ 48,844
Short-term investments51,713
Accounts receivable22,926
Inventories4,106
Other current assets35,230
Total current assets162,819
Long-term investments105,341
Property, plant, and equipment, net37,378
Other noncurrent assets32,978
Total assets$ 338,516
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable$ 46,236
Accrued expenses43,700
Unearned revenue5,522
Short-term debt10,260
Total current liabilities105,718
Long-term debt91,807
Other noncurrent liabilities50,503
Total liabilities248,028
Stockholders’ equity:
Common stock ($0.00001 par value)1
Additional paid-in capital45,173
Retained earnings45,314
Total stockholders’ equity90,488
Total liabilities and shareholders' equity$ 338,516


Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020):

  1. 1. Borrowed $18,266 from banks due in two years.
  2. 2. Purchased additional investments for $21,000 cash; one-fifth were long term and the rest were short term.
  3. 3. Purchased property, plant, and equipment; paid $9,571 in cash and signed a short-term note for $1,410.
  4. 4. Issued additional shares of common stock for $1,469 in cash; total par value was $1 and the rest was in excess of par value.
  5. 5. Sold short-term investments costing $18,810 for $18,810 cash.
  6. 6. Declared $11,126 in dividends to be paid at the beginning of the next fiscal year.


Prepare a balance sheet

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