Homework Lance
During the financial year ending September 29th, 2019, Apple Inc. recorded a net income of $55,258 (in millions). During this fiscal year, modifications are required to the operational part of the cash flow statement. Cash inflows and outflows were included. Other entries were made as a result of changes in operating assets and liabilities, while others were made as changes to balance operating earnings to income produced by operating activities. Adjustments were made to reconcile net income to cash generated by operational operations, as follows: adjustments resulting from depreciation and amortization was an increase of $12,547 (in millions). The devaluation of plants and equipment was measured using a straight-line basis. The share-based expense generated an increase of $6,068 (in millions). The adjustments on deferred income tax expense/ (benefit) and other adjustments caused a decrease of $340 (in millions) and $652 (in millions), respectively.
The adjustments from the operating assets and liabilities included an increase of $245 (in millions) from accounts receivables, while the inventories adjustment generated a decrease of $289 (in millions). An additional $2,931 (in millions) resulted from vendor-non-trade receivables, bedsides other current and non-current assets reported an increase of $873 (in millions).
Accounts payable showed a negative adjustment in the cash flow statement of $1,923 (in millions), while the deferred revenue also showed a negative adjustment of $625 (in millions). Other current and non-current liabilities that were reported in the cash flow statement of the 2018/2019 financial year recorded a negative adjustment of $4,700 (in millions). The total amount of cash generated from the operating activities by Apple Inc. during this financial year was $69,391 (in millions).
References
https://www.annualreports.com/Company/apple-inc
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