Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)

11th Edition

ISBN: 9780134078960

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…

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Textbook Question

Chapter 9, Problem 9.1FSC

> Financial Statement Case 9-1

Use Starbucks Corporation’s Fiscal 2013 Annual Report and the Note 1 data on “Allowance for Doubtful Accounts to answer the following questions. Visit http://www.pearsonhighered.com/Homgren to view a link to Starbucks Corporation’s annual report.

Requirements

How much accounts receivables did Starbucks report as of September 29, 2013? As of September 30, 2012?
Refer to Note 1, “Allowance for Doubtful Accounts.” How does Starbucks calculate allowance for doubtful accounts? What was the amount of the account as of September 29, 2013? As of September 30, 2012?
Compute Starbucks’s acid-test ratio at the end of 2013. If all the current liabilities came due immediately, could Starbucks pay them?
Compute Starbucks’s accounts receivable turnover at the end of 2013. Use total net revenues.
Compute Starbucks’s days’ sales in receivables at the end of 2013.
How does Starbucks compare to Green Mountain Coffee Roasters, Inc. on the basis of the acid-test ratio, accounts receivable turnover, and days’ sales in receivables?

Expert Solution & Answer

Chapter 9 Solutions

Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)

Ch. 9 - 1. With good internal controls, the person who...Ch. 9 - Prob. 2QC Ch. 9 - Which of the following is a limitation of the...Ch. 9 - 3. The entry to record a write-off of an...Ch. 9 - Brickman Company uses the allowance method to...Ch. 9 - Brickman’s ending balance of accounts Receivable...Ch. 9 - At December 31 year-end, Crain Company has an...Ch. 9 - Using the data in the preceding question, what...Ch. 9 - At year-end, Schultz Company has cash of $11,600,...Ch. 9 - Using the data in the preceding question, assume...

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