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Apple Inc. accumulates large amounts of excess cash throughout the year. It typically invests these funds in marketable securities until they are needed. The company’s most recent financial statements revealed a nearly $160 million unrealized gain on short-term investments. Footnotes to the financial statements disclosed that Apple Inc. reports its short-term investments at fair value.
a. Explain the meaning of the company’s unrealized gain on short-term investments.
b. How does the unrealized gain impact the company’s financial statements?
c. Is the unrealized gain included in the computation of the company’s taxable income? Explain.
d. Evaluate fair value accounting from the perspective of the company’s creditors.
The Cycle Division buys its body frames from an outside supplier. However Ayala has another division, Frame Body, that makes body frames for other cycle companies
Sales in the first quarter of 2015 are expected to be 25% higher than sales in the same quarter in 2014 - Prepare quarterly production budgets for each quarter and in total for 2014.
What general types of information must public companies regulated by the SEC disclose in their annual reports regarding their dividend policies? Why is this information important to potential investors?
What information is contained in the balance sheet? What are limitations of the balance sheet? How can balance sheet limitations be overcome?
What would the normal balance be of a liability account a post closing trial balance? A revenue account? Drawing? Explain.
It is virtually certain that material costs will be incurred but the amount of resultant costs cannot be adequately predicted.
Which of the following is indicative of primary demand?
Calculate the net cash flows from operating activities. Show your work. Calculate the net cash flows from investing activities. Show your work. Calculate the net cash flows from financing activities. Show your work. Calculate the net change in cash. ..
Compute General Mills' accounts receivable turnover ratio for 2004. (Assume that all sales are on credit. and determine the average collection period, in days, for an account receivable? Explain your answer.
fundamental question on accounting for corporations.boswell corporation has the following stockholders equity
Identify four quality of earnings issues reported in the case and the analysts' concern about each. In percentage terms, what is the impact of the currency changes on fourth quarter earnings?
Compare real GDP per person in the two countries after 10 years and after 20 years. Approximately how many years will it take Poorland to catch up to Richland?
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