Starbucks is a coffee company-a big coffee company. During a 10-year period, the number of Starbucks locations
Question:
Assume that the following events (dollars in thousands) occurred in the next quarter that ended December 31, 2007:
(a) Paid $10,000 cash for additional other long-term assets.
(b) Received $5,100 in cash as additional contributions (investments) from owners.
(c) Purchased property, plant, and equipment; paid $11,200 in cash and signed long-term loans for $9,500.
(d) Sold, at cost, other long-term assets for $6,000 cash.
(e) Conducted negotiations to purchase a coffee farm that is expected to cost $8,400.
Required:
Analyze transactions (a)-(e) to determine their effects on the accounting equation. Use the format shown in the demonstration case on page 71.
Step by Step Answer:
Principles Of Accounting
ISBN: 9780077300456
1st Edition
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton