1. Based upon the T accounts in Exercise 4–8, prepare the nine journal entries from which the postings were made.
2. The following accounts (in millions) were adapted from the financial statements of Apple Computer, Inc., for the year ending September 25, 2004: Accounts Payable $2,680 Other Assets $ 651 Accounts Receivable 1,005 Other Income (net) 57 Capital Stock 2,406 Other Liabilities 294 Cash 2,969 Other Operating Expenses 23 Cost of Sales 6,020 Property, Plant, and Equipment 707 Goodwill and Other Intangible Assets 122 Research and Development Expenses 489 Income Tax Expense 107 Retained Earnings, September 27, 2003 2,394 Inventories 101 Sales 8,279 Investments 2,495 Selling, General, and Administrative Expenses 1,421 (a) Identify each account as either a balance sheet account or an income statement account. (b) For each balance sheet account, identify it as an asset, a liability, or stockholders’ equity. For each income statement account, identify it as a revenue or an expense. (c) Indicate the normal balance of the account.