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Record the transaction: SBUX sells $180,000 in coffee to customers who uses Starbucks Cards to make...
Record transaction: In January, SBUX sells coffee totaling $300,000 to customers for cash. (IMPORTANT ASIDE: The...
Record transaction:
In January, SBUX sells coffee totaling $300,000 to customers
for cash. (IMPORTANT ASIDE: The customer might use a credit card to
make the purchase. Credit companies charge 2-3% processing fee.
SBUX would treat the credit card transaction the same as a cash
purchase, except that the amount recorded would be the net cash
flow, 97-98% of the selling price.)
Transactions to record: Company-owned stores. In January, SBUX sells coffee totaling $300,000 to customers for cash. (Important aside: The...
Record the transaction: May 26: SBUX sells $10,000 of coffee to Valentine, payment due in 45...
Record the transaction:
May 26: SBUX sells $10,000 of coffee to Valentine, payment due
in 45 days.
Income Statement Balance Sheet Date (if any Cash Noncash given) Asset Assets 2/14 5/26 Contributed Earned Liabilities Capital surplus Revenues Expenses Net Income
Record the transaction: Customers go online and load $200,000 on their Starbucks Cards. Date (ifany Cash...
Record the transaction:
Customers go online and load $200,000 on their Starbucks
Cards.
Date (ifany Cash Noncash given) AssetAssets Balance Sheet Income Statement Contributed Earned surplius Revenues Expenses Net Income
Record the transaction: February 14: SBUX granted a license to Valentine Partners to operate a SBUX...
Record the transaction:
February 14: SBUX granted a license to Valentine Partners to
operate a SBUX store in the City of Brotherly Love, Philadelphia,
Pennsylvania. Under the terms of the agreement SBUX will assist
Valentine in determining store location and train Valentine’s
employees to meet SBUX standards of service before officially
opening of the store. The fee for these services is $400,000 due up
front. SBUX will sell coffee to Valentine on credit. Valentine will
pay a 10% royalty to...
Record the transaction: June 15: the new store opened. SBUX determines that it has satisfied the...
Record the transaction:
June 15: the new store opened. SBUX determines that it has
satisfied the promises made to Valentine relating to store location
and training.
February 14: SBUX granted a license to Valentine Partners to operate a SBUX a store in (that's right you guessed it) the City of Brotherly Love, Philadelphia, Pennsylvania. Under the terms of the agreement SBUX will assist Valentine in determining store location and train Valentine's employees to meet SBUX standards for service before the...
Record the transaction: June 20: SBUX receives $8,000 payment from Valentine relating to the May 26...
Record the transaction:
June 20: SBUX receives $8,000 payment from Valentine relating
to the May 26 sale.
Income Statement Balance Sheet Date ash sh contributed Earned -Revenues Revenues Expenses Net Income -Spenses Net Income Liabilities Liabilities Capital given) Asset Assets 2/14 5/26 6/15 6/20 6/30 7/5 Assets
Record the transaction: June 30: Valentine reports that it has made $40,000 of sales in June....
Record the transaction:
June 30: Valentine reports that it has made $40,000 of sales
in June.
Date Balance Sheet Income Statement Contributed Earned (if any Cash Noncash given) A 2/14 5/26 6/15 6/20 6/30 7/5 sset Assets Liabilities Capital Srplus Revenues Expenses Net Incon
Marketable Debt Securities Use the financial statement effects template to record the accounts and amounts for...
Marketable Debt Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable debt securities classified as available-for-sale securities. Assume that these transactions occur in 2016 (before the new rules for securities went into effect). a. Loudder Inc. purchases 4,000 bonds with a face value of $1,000 per bond. The bonds are purchased at par for cash and pay interest at a semi-annual rate of 4%. b. Loudder receives...
Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record...
Assessing Financial Statement Effects of Marketable Equity Securities Use the financial statement effects template to record the following four transactions involving investments in marketable equity securities. Assume that these transactions occur in 2018. Purchased 18,000 common shares of Baez, Inc., at $12 cash per share. Received a cash dividend of $1.20 per common share from Baez. Year-end market price of Baez common stock is $11.25 per share. Sold all 18,000 common shares of Baez for $213,600. Use negative signs with...
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use elther...
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use elther of two credit cards: Zisa or Access. Zisa deducts a 5.5 % service charge for sales on its credit card. Access deducts a 4.5% service charge for sales on its card. Mayfair completes the following transactions In June 4 Sold $500 of merchandise on eredit (that Sad coat $200) t0 Natara Morria terma n/30. S Sold $9,700 of merchandiee (that had cOst $3,880) o...
Record transaction:
In January, SBUX sells coffee totaling $300,000 to customers
for cash. (IMPORTANT ASIDE: The customer might use a credit card to
make the purchase. Credit companies charge 2-3% processing fee.
SBUX would treat the credit card transaction the same as a cash
purchase, except that the amount recorded would be the net cash
flow, 97-98% of the selling price.)
Transactions to record: Company-owned stores. In January, SBUX sells coffee totaling $300,000 to customers for cash. (Important aside: The...
Record the transaction:
May 26: SBUX sells $10,000 of coffee to Valentine, payment due
in 45 days.
Income Statement Balance Sheet Date (if any Cash Noncash given) Asset Assets 2/14 5/26 Contributed Earned Liabilities Capital surplus Revenues Expenses Net Income
Record the transaction:
Customers go online and load $200,000 on their Starbucks
Cards.
Date (ifany Cash Noncash given) AssetAssets Balance Sheet Income Statement Contributed Earned surplius Revenues Expenses Net Income
Record the transaction:
February 14: SBUX granted a license to Valentine Partners to
operate a SBUX store in the City of Brotherly Love, Philadelphia,
Pennsylvania. Under the terms of the agreement SBUX will assist
Valentine in determining store location and train Valentine’s
employees to meet SBUX standards of service before officially
opening of the store. The fee for these services is $400,000 due up
front. SBUX will sell coffee to Valentine on credit. Valentine will
pay a 10% royalty to...
Record the transaction:
June 15: the new store opened. SBUX determines that it has
satisfied the promises made to Valentine relating to store location
and training.
February 14: SBUX granted a license to Valentine Partners to operate a SBUX a store in (that's right you guessed it) the City of Brotherly Love, Philadelphia, Pennsylvania. Under the terms of the agreement SBUX will assist Valentine in determining store location and train Valentine's employees to meet SBUX standards for service before the...
Record the transaction:
June 20: SBUX receives $8,000 payment from Valentine relating
to the May 26 sale.
Income Statement Balance Sheet Date ash sh contributed Earned -Revenues Revenues Expenses Net Income -Spenses Net Income Liabilities Liabilities Capital given) Asset Assets 2/14 5/26 6/15 6/20 6/30 7/5 Assets
Record the transaction:
June 30: Valentine reports that it has made $40,000 of sales
in June.
Date Balance Sheet Income Statement Contributed Earned (if any Cash Noncash given) A 2/14 5/26 6/15 6/20 6/30 7/5 sset Assets Liabilities Capital Srplus Revenues Expenses Net Incon
Marketable Debt Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable debt securities classified as available-for-sale securities. Assume that these transactions occur in 2016 (before the new rules for securities went into effect). a. Loudder Inc. purchases 4,000 bonds with a face value of $1,000 per bond. The bonds are purchased at par for cash and pay interest at a semi-annual rate of 4%. b. Loudder receives...
Mayfair Co. allows select customers to make purchases on credit. Its other customers can use elther of two credit cards: Zisa or Access. Zisa deducts a 5.5 % service charge for sales on its credit card. Access deducts a 4.5% service charge for sales on its card. Mayfair completes the following transactions In June 4 Sold $500 of merchandise on eredit (that Sad coat $200) t0 Natara Morria terma n/30. S Sold $9,700 of merchandiee (that had cOst $3,880) o...
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