Required information The following information applies to the questions displayed below Starbucks is a coffee companya 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 Starbuckss annual report for the year ended October 2, 2016, and dollars are reported in millions Accounts Payable $ 4,150 Accounts Receivable 770 Cash 2,130 Common Stock 630 Equipment 4,530 Intangible Assets 5,040 Inventory 1,380 Notes Payable (long term) 3,200 Notes Payable (short term) 400 Prepaid Rent 350 Retained Earnings 5,950 Short Term Investments 130 Assume that the following events occurred in the following quarter, which ended December 31, 2016 Dollars are in millions Paid $1,000 cash for additional intangible assets Issued additional shares of common stock for $10,000 in cash Purchased equipment paid $4,000 in cash and signed additional long term loans for $9,500 Paid $800 cash for accounts payable owed at October 2 Conducted negotiations to purchase a coffee farm, which is expected to cost $8,400 Analyze transactions (a)(e) to determine their effects on the accounting equation (Enter any decreases to account balances with a minus sign Enter your answers in millions (i e , 10,000,000 should be entered as 10) )

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 16, 2024

Required information [The following information applies to the questions displayed below.] Starbucks is a coffee companya big coffee company. During a 10-year period, the number

Required information

[The following information applies to the questions displayed below.]

Starbucks is a coffee companya 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 Starbuckss annual report for the year ended October 2, 2016, and dollars are reported in millions.


Accounts Payable	$	4,150
Accounts Receivable		770
Cash		2,130
Common Stock		630
Equipment		4,530
Intangible Assets		5,040
Inventory		1,380
Notes Payable (long-term)		3,200
Notes Payable (short-term)		400
Prepaid Rent		350
Retained Earnings		5,950
Short-Term Investments		130

Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions.

Paid $1,000 cash for additional intangible assets.
Issued additional shares of common stock for $10,000 in cash.
Purchased equipment; paid $4,000 in cash and signed additional long-term loans for $9,500.
Paid $800 cash for accounts payable owed at October 2.
Conducted negotiations to purchase a coffee farm, which is expected to cost $8,400.

Analyze transactions (a)(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)