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PB2-3 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5] (General Ledger) Starbucks
PB2-3 Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-2, LO 2-3, LO 2-4, LO 2-5] (General Ledger) Starbucks is a coffee company a big coffee company. During a 10-year period, the number of Starbucks locations grew from 165 to over 8,800 stores in 50 countries. The following is adapted from Starbucks's annual report for the year ended September 30, 2013, and dollars are reported in millions $4,110 560 2,560 350 3,220 2,850 1,110 1,660 570 4,140 1,270 Accounts Payable Cash Common Stock Equipment Intangible Assets Inventories Notes Payable (long-term) Prepaid Rent Retained Earnings Salaries and Wages Payable Short-Term Investments Assume that the following events occurred in the following quarter, which ended December 31, 2013. Dollars are in millions. a. Paid S1,000 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 S9,500 d. Paid S800 cash for salaries and wages owed at September 30 e Conducted negotiations to purchase a coffee farm, which is expected to cost $8.400 (Enter your answers in millions but not in dollars.)
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