Question

Refer to the most recent balance sheet for Apple in Appendix A. What five main noncurrent asset categories are used on its classified balance sheet?

Short answer

In the company’s classified balance sheet, the current asset and noncurrent assets are both shown under the head of the asset—the noncurrent item ae recorded below the current assets.

Step-by-step solution

Definition of non-current assets

Non-current assets are those assets that cannot convert into cash within 12 months.

Five non-current asset categories

• Long-term marketable securities
• Property, plant and equipment, net
• Goodwill
• Acquired intangible assets, net
• Other assets