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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 58
Financial statements often serve as a starting point in formulating budgets. Review Apple 's financial statements in Appendix A to determine its cash paid for acquisitions of property, plant, and equipment in the current year and the budgeted cash needed for such acquisitions in the next year.
Required
1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported.
2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income.
Fast Forward
3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate.
Reference: Apple 's financial statements and notes in Appendix A
![Financial statements often serve as a starting point in formulating budgets. Review Apple 's financial statements in Appendix A to determine its cash paid for acquisitions of property, plant, and equipment in the current year and the budgeted cash needed for such acquisitions in the next year. Required 1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported. 2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income. Fast Forward 3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate. Reference: Apple 's financial statements and notes in Appendix A](https://storage.examlex.com/SM1965/11eb91e1_3294_222d_ad16_4dda915fc195_SM1965_00.jpg)
![Financial statements often serve as a starting point in formulating budgets. Review Apple 's financial statements in Appendix A to determine its cash paid for acquisitions of property, plant, and equipment in the current year and the budgeted cash needed for such acquisitions in the next year. Required 1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported. 2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income. Fast Forward 3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate. Reference: Apple 's financial statements and notes in Appendix A](https://storage.examlex.com/SM1965/11eb91e1_3294_222e_ad16_a796cbcffa4d_SM1965_00.jpg)
![Financial statements often serve as a starting point in formulating budgets. Review Apple 's financial statements in Appendix A to determine its cash paid for acquisitions of property, plant, and equipment in the current year and the budgeted cash needed for such acquisitions in the next year. Required 1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported. 2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income. Fast Forward 3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate. Reference: Apple 's financial statements and notes in Appendix A](https://storage.examlex.com/SM1965/11eb91e1_3294_493f_ad16_bd866924142d_SM1965_00.jpg)
![Financial statements often serve as a starting point in formulating budgets. Review Apple 's financial statements in Appendix A to determine its cash paid for acquisitions of property, plant, and equipment in the current year and the budgeted cash needed for such acquisitions in the next year. Required 1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported. 2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income. Fast Forward 3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate. Reference: Apple 's financial statements and notes in Appendix A](https://storage.examlex.com/SM1965/11eb91e1_3294_4940_ad16_abe3c1f39e8a_SM1965_00.jpg)
Required
1. Which financial statement reports the amount of cash paid for acquisitions of property, plant, and equipment Explain where on the statement this information is reported.
2. Indicate the amount of cash (a) paid for acquisitions of property and equipment in the year ended September 28, 2013, and (b) to be paid (budgeted for) next year under the assumption that annual acquisitions of property and equipment equal 20% of the prior year's net income.
Fast Forward
3. Access Apple's financial statements for a year ending after September 28, 2013, from either its website [ Apple.com ] or the SEC's EDGAR database [ www.SEC.gov ]. Compare your answer for part 2 with actual cash paid for acquisitions of property and equipment for that fiscal year. Compute the error, if any, in your estimate. Speculate as to why cash paid for acquisitions of property and equipment was higher or lower than your estimate.
Reference: Apple 's financial statements and notes in Appendix A
Explanation
Verified
Verified
1.
Financial statements refer to a forma...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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