Starbucks is a coffee company-a big coffee company. During a 10-year period, the number of Starbucks locations in China grew from 24 to over 1,000. The following is adapted from Starbucks's annual report for the year ended October 2, 2016, and dollars are reported in millions. Accounts Payable Accounts Receivable Cash $4,150 770 2,130 Common Stock Equipment Intangible Assets 630 4,530 5,040 1,380 3,200 Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments 400 350 5,950 130 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,000 cash for additional intangible assets. b. Issued additional shares of common stock for $10,000 in cash. c. Purchased equipment; paid $4,000 in cash and signed additional long-term loans for $9,500. d. Paid $800 cash for accounts payable owed at October 2. e. Conducted negotiations to purchase a coffee farm, which is expected to cost $8,400.

Starbucks is a coffee company-a big coffee company. During a 10-year period, the number of Starbucks locations in China grew from 24 to over 1,000. The following is adapted from Starbucks's annual report for the year ended October 2, 2016, and dollars are reported in millions. Accounts Payable Accounts Receivable Cash $4,150 770 2,130 Common Stock Equipment Intangible Assets 630 4,530 5,040 1,380 3,200 Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings Short-Term Investments 400 350 5,950 130 Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,000 cash for additional intangible assets. b. Issued additional shares of common stock for $10,000 in cash. c. Purchased equipment; paid $4,000 in cash and signed additional long-term loans for $9,500. d. Paid $800 cash for accounts payable owed at October 2. e. Conducted negotiations to purchase a coffee farm, which is expected to cost $8,400.

Name: Starbucks is a coffee company-a big coffee company. During a 10-year
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Description: Starbucks is a coffee company-a big coffee company. During a 10-year period, the number ofStarbucks locations in China grew from 24 to over 1,000. The following is adapted from Starbucks'sannual report for the year ended October 2, 2016, and dollars

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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