Using either the SEC EDGAR Web site or Starbucks' Web site, find Starbucks' 2011 financial statements. Note
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1. Prepare six summary journal entries for the given data. Use Starbucks' account titles and label your entries a through f. Omit explanations. For simplicity, assume all transactions (except for cost of sales) were for cash. Assume cost of sales is 70% of the "cost of sales including occupancy costs," whereas occupancy costs are 30% and are paid in cash.
2. Starbucks' balance sheet shows $2,355.0 million of Property, Plant, and Equipment, net. Explain what the term "net" means and find both gross and net amounts for Property, Plant, and Equipment.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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1 a Cash 117004 Net revenues 117004 b Cost of sales including occupancy costs 49493 Inventory 34645 ...View the full answer
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Related Book For 
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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