1In deep fryer or 4-quart heavy saucepan, heat oil to 350°F.
2In large bowl, stir Bisquick mix, water, egg, granulated sugar and cinnamon. Fold in apple. Working in batches, drop batter by tablespoonfuls into hot oil. Cook 2 to 3 minutes, turning occasionally, or until golden brown. Use a metal slotted spoon to remove fritters from oil; drain on paper towels.
3Before serving, sprinkle fritters with powdered sugar.