Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required Information The following Information applies to the questions displayed below] Starbucks Is a coffee company-a blg coffee company. During a 10-year perlod, the number
Required Information The following Information applies to the questions displayed below] Starbucks Is a coffee company-a blg coffee company. During a 10-year perlod, 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 $4,5ee 575 Cash 2,710 38e Common Stock Equipment 3,580 3,eee 1,260 Intangible Assets Inventory Notes Payable (long-term) Notes Payable (short-term) Prepaid Rent Retained Earnings 1,810 1,420 585 4,298 Short-Term Investments 69e Assume that the following events occurred In the following quarter, which ended December 31, 2016. Dollars are In millions a. Pald $150 cash for additional intangible assets. b. Issued additional shares of common stock for $10,300 in cash. c. Purchased equipment, pald $4,300 in cash and signed additional long-term loans for $9,200. d. Pald $830 cash for accounts payable owed at October 2 e. Conducted negotlations to purchase a coffee farm, which is expected to cost $8,200 4. Summarize the journal entry effects from part 3 using T-accounts. (Enter your answers in mllions (I.e., 10,000,000 should be entered as 10).) Cash Accounts Receivable Beg. Bal. Beg. Bal. a. End. Bal End. Bal. Inventory Short-term Investments Beg. Bal. Beg. Bal. End. Bal End. Bal. Prepaid Rent Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Intangible Assets Accounts Payable Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Payable (short-term) Notes Payable (long-term) Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started