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 investments | 51,713 |
Accounts receivable | 22,926 |
Inventories | 4,106 |
Other current assets | 35,230 |
Total current assets | 162,819 |
Long-term investments | 105,341 |
Property, plant, and equipment, net | 37,378 |
Other noncurrent assets | 32,978 |
Total assets | $ 338,516 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | |
Current Liabilities: | |
Accounts payable | $ 46,236 |
Accrued expenses | 43,700 |
Unearned revenue | 5,522 |
Short-term debt | 10,260 |
Total current liabilities | 105,718 |
Long-term debt | 91,807 |
Other noncurrent liabilities | 50,503 |
Total liabilities | 248,028 |
Stockholders’ equity: | |
Common stock ($0.00001 par value) | 1 |
Additional paid-in capital | 45,173 |
Retained earnings | 45,314 |
Total stockholders’ equity | 90,488 |
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. Borrowed $18,266 from banks due in two years.
- 2. Purchased additional investments for $21,000 cash; one-fifth were long term and the rest were short term.
- 3. Purchased property, plant, and equipment; paid $9,571 in cash and signed a short-term note for $1,410.
- 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. Sold short-term investments costing $18,810 for $18,810 cash.
- 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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