What were Apple”s total current assets at September 24, 2011, and September 25, 2010?

The financial statements of Apple Inc. are presented at the end of this textbook. Instructions for accessing and using the company”s complete annual report, including the notes to the financial statements, are also provided.

Instructions

Answer the questions below using Apple”s Consolidated Balance Sheets.

(a) What were Apple”s total current assets at September 24, 2011, and September 25, 2010?

(b) Are assets that Apple included under current assets listed in proper order? Explain.

(c) How are Apple”s assets classified?

(d) What was Apple”s “Cash and cash equivalents” at September 24, 2011?

(e) What were Apple”s total current liabilities at September 24, 2011, and September 25, 2010?

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