Horngren's Financial & Managerial Accounting, The Managerial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
5th Edition
ISBN: 9780134078922
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 1, Problem 1.1CTFSC
This and similar cases in later chapters focus on the financial statements of a real company—Starbucks Corporation, a premier roaster and retailer of specialty coffee. As you work each case, you will gain confidence in your ability to use the financial statements of real companies.
Visit http://www.pearsonhighered.com/Homgren to view a link to the Starbucks Corporation Fiscal2013 Annual Report.
Requirements
- 1. How much in cash (including cash equivalents) did Starbucks Corporation have on September 29, 2013?
- 2. What were the company’s total assets at September 29, 2013? At September 30, 2012?
- 3. Write the company’s
accounting equation at September 29, 2013, by filling in the dollar amounts:Assets = Liabilities + Equity
- 4. Identify total net sales (revenues) for the year ended September 29, 2013. How much did total revenue increase or decrease from 2012 to 2013?
- 5. How much net income (net earnings) or net loss did Starbucks earn for 2013 and for 2012? Based on net income, was 2013 better or worse than 2012?
- 6. Calculate Starbucks Corporation’s return on assets for the year ending September 29, 2013.
- 7. How did Starbucks Corporation’s return on assets compare to Green Mountain Coffee Roasters, Inc.’s return on assets?
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Getting Better:
Solve the Problem below.
1. Gypsy Co. had the following cash related transaction for the fist month of operation,
March 2018.
the owner invested P 100, 00 0 to start her business
Bought P 50, 200 worth of merchandize inventory
Sold goods for P 80, 500 on account
Collected P 50, 800 from accounts receivable
March
6.
15
17
Sold goods for cash P 75, 300
Paid employees salaries amounting to P 36, 900
paid electricity and water bills amounting to P 23, 600
the owner withdraw P 15, 500 for personal expenses
19
25
29
30
Required: Determine the T-account.
Gaining Mastery:
Summarize the effect of all the transaction above problem and the balance at the end of the
period, consider the table below.
Normal
Debit
Credit
Balance
Date
Assets
Liability
capital
Gypsy
Capital
100,000)
Date
cash
Account
Inventory
Account
Receivable
payable
March I
106, 000
P 501 200
PS0,200
is
17
19
25
29
30
Chapter 1 Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
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