Question

he following information applies to the questions displayed below] tarbucks is a hina grew from 24 to over 1,000. The following is adapted from Starbucks's annual report for the year ended October 2, 016, and dollars are reported in millions riod, the number of Starbucks locations in $6,060 635 3,310 500 ts Receivable Cash Common Stock Equipment Intangible Assets Inventory 5,020 3,600 1,860 Notes Payable (long-term) 2,410 Notes Payable (short-term) 2,020 645 4,890 810 Rent ngs Assume that the following events occurred in the following quarter, which ended December 31, 2016. Dollars are in millions. a. Paid $1,750 cash for additional intangible assets. b. Issued additional shares of common stock for $11,500 in cash c. Purchased equipment paid $3,400 in cash and signed additional long-term loans for $10,400 d. Paid $950 cash for accounts payable owed at October 2 ucted negotiations to purchase a coffee farm, which is expected to cost $9,400 marize the journal entry effects from part 3 using T-accounts. (Enter your answers in millions (Le.. 10,000,000 should be tered as 1o).) Cash

Answer 1

Notes Payable(short term) (S Are In Millions) Accounts Receivable Are In Millions) ($ Are In Millions) $3,310 intangible assets $1,750 Cash $2,020Beg. Bal $635 Beg. Bal Common stock $11,500 Equipments Beg. Bal $3,400 End Bal $2,020 End Bal $635 Accounts Payable$950 $8,710 $14,810 End Bal $2,020 $2,020 $14,810 $635 $635 Inventories $1,860 Are In Millions) Common stock ($Are In Millions) 11,500 12,000 Notes Payable(long term) (S Are In Millions) Prepaid Rent (SAre In Millions Beg. Bal Beg. Bal Beg. Bal $645 $1,860End Bal. $12,000 Cash $645 $645 Equipment Are In Millions) End Bal End Bal 1,860 $1,860 12,000 $645 Short term Investments Are In Millions) $810 $2,410Beg. Bal $5,020 $3,400 Beg. Bal Beg. Bal End Bal $810 End B $12,810 Equipments $10,400Cash Notes Payable(Long Term$10,400 End Bal. $18,820 $18,820 Accounts Payable (SAre In Millions) $12,810 $12,810 $810 $810 $18,820 Intangible asssets Are In Millions) Retained earnings ($Are In Millions) $950 Beg. Bal.$6,060 Beg. Bal Cash Beg. Bal $4,890Cas $1,750 End Bal $5,350 End Bal $4,890 $5,110 End Bal $5,350 $5,350 $4,890 $4,890 $6,060 $6,060