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Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Current Year Current year book value (in millions) $ Preceding year book value (in millions) $ Preceding Year $17,085 $16,216 69,797 65,982 8,205 9,075 (58,579) Accumulated depreciation and amortization (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. A comparison of the book values of the current and preceding years indicates that they ( Apple purchased $ b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? A comparison of the total cost and accumulated depreciation reveals million taken during the current year. million of additional fixed assets, which was offset by the additional depreciation expense of $

Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Current Year Current year book value (in millions) $ Preceding year book value (in millions) $ Preceding Year $17,085 $16,216 69,797 65,982 8,205 9,075 (58,579) Accumulated depreciation and amortization (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. A comparison of the book values of the current and preceding years indicates that they ( Apple purchased $ b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? A comparison of the total cost and accumulated depreciation reveals million taken during the current year. million of additional fixed assets, which was offset by the additional depreciation expense of $

Financial Reporting, Financial Statement Analysis and Valuation
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter10: Forecasting Financial Statement
Section: Chapter Questions
Problem 10PC
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Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Current Year Current year book value (in millions) $ Preceding year book value (in millions) $ Preceding Year $17,085 $16,216 69,797 65,982 8,205 9,075 (58,579) Accumulated depreciation and amortization (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. A comparison of the book values of the current and preceding years indicates that they Apple purchased b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? A comparison of the total cost and accumulated depreciation reveals that million taken during the current year. million of additional fixed assets, which was offset by the additional depreciation expense of $
Transcribed Image Text:Apple Inc. (AAPL) designs, manufactures, and markets personal computers and related software. Apple also manufactures and distributes music players (iPod), mobile phones (iPhone), and smartwatches (Apple Watch) along with related accessories and services, including online distribution of third-party music, videos, and applications. The following information was taken from a recent annual report of Apple: Property, Plant, and Equipment (in millions): Land and buildings Machinery, equipment, and internal-use software Other fixed assets Current Year Current year book value (in millions) $ Preceding year book value (in millions) $ Preceding Year $17,085 $16,216 69,797 65,982 8,205 9,075 (58,579) Accumulated depreciation and amortization (49,099) a. Compute the book value of the fixed assets for the current year and the preceding year. A comparison of the book values of the current and preceding years indicates that they Apple purchased b. Would you normally expect Apple's book value of fixed assets to increase or decrease during the year? A comparison of the total cost and accumulated depreciation reveals that million taken during the current year. million of additional fixed assets, which was offset by the additional depreciation expense of $
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