Accounting Internet Research

Description

AP 2 – 6: Internet Research – Apple Inc.

“Obtain a copy of the annual report for Apple Inc. for the most recent year. You can find the annual report at the company’s website (www.apple.com (Links to an external site.)) in the investor information section or at the Securities and Exchange Commission’s website (www.sec.gov (Links to an external site.)) using EDGAR (Electronic Data Gathering, Analysis, and Retrieval). Form 10-K , which includes the annual report, is required to be filed on EDGAR. Search or scroll within the annual report to find the financial statements.

Required: Determine the following from the company’s financial statements:

What amount does the company report for accounts receivable? What does this amount represent?
What amount does the company report for accounts payable? What does this amount represent?
The company reports a single amount for accrued expenses in the liability section of the balance sheet. What are some possible liabilities included in this amount?
What does the company report for common stock (including additional paid-in capital)? What does this amount represent?
Determine whether the company’s total assets equal total liabilities plus stockholders’ (or shareholders’) equity.
Apple refers to its income statement as the statement of operations. What amount does the company report for net sales? This amount represents sales of the company’s products over what period of time?
What are some of the expenses listed in the income statement?
Do the company’s total revenues exceed total expenses? By how much?” (Spiceland 2019)

AP 3 – 6: Internet Research – McDonald’s Corporation

“Obtain a copy of the annual report of McDonald’s Corporation for the most recent year. You can find the annual report at the company’s website (www.mcdonalds.com (Links to an external site.)) in the investor information section or at the Securities and Exchange Commission’s website (www.sec.gov (Links to an external site.)) using EDGAR (Electronic Data Gathering, Analysis, and Retrieval). Form 10-K , which includes the annual report, is required to be filed on EDGAR. Search or scroll within the annual report to find the financial statements.

Required: Determine the following from the company’s financial statements:

Do the company’s revenues exceed expenses? What is the amount of net income?
Did net income increase in the most recent year compared to the previous year?
Which assets are listed in current assets? Why are other assets not listed as current assets?
Which liabilities are listed as current liabilities? Why are other liabilities not listed as current liabilities?
By how much did retained earnings increase/decrease in the most recent year compared to the previous year?
What is the amount of dividends paid to common stockholders? This information can be found in the statement of stockholders’ equity or the statement of cash flows.
Explain the relationship between the change in retained earnings, net income, and dividends.” (Spiceland 2019)