Starbucks is a coffee company-a big coffee company. During a 10-year period, 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.
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- This year, a business bought $10,000,000 worth of products from its suppliers. Its accounts payable balance shown on the balance sheet is $1,000,000. During the following year, the company expects to buy $12,000,000 worth of products from its suppliers and estimate its accounts payable to increase by $300,000. This year's average payment period is ______.Apple Inc. designs, manufactures, and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Substantially all of the companys sales over the last five years are from sales of its Macs, iPods, iPads, and related software and peripherals. For two recent fiscal years, Apple reported the following (in millions): Assume that the accounts receivable (in millions) were 24,094 at the beginning of fiscal Year 1. 1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decimal places. 2. Compute the days sales in receivables at the end of Year 2 and Year 1. Use 365 days and round to one decimal place. 3. What conclusions can be drawn from (1) and (2) regarding Apples efficiency in collecting receivables?At year end,Elliott counted the office supplies on hand,which amounted to $1500.The firm had $900 of supplies on hand at the start of the year, and had purchased $600 of supplies during the year.What was the total office supplies expense for the year？
- The T.P. Jarmon Company manufactures and sells a line of exclusive sportswear. The firm’s sales were $600, 100 for the year just ended, and its total assets exceeded $500,000. The company was started by My. Jarmon just 10 years ago and has been profitable every year since its inception. The chief financial officer for the firm, Brent Behlim, has decided to seek a line of credit from the firm’s bank totaling $86,000. In the past, the company has relied on its suppliers to finance a large part of its needs for inventory. However, in recent months, tight money conditions have led the firm’s suppliers to offer sizable cash discounts to speed up payments for purchases. Mr. Vehlim wants to use the line of credit to supplant a large portion of the firm’s payables during the summer, which is the firm’s peak seasonal sales period. // The firm’s two most recent balance sheets were presented to the bank in support of its loan request. In addition, the firm’s income statement for the year just…Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000. What are total expenses for Kyzera in its most recent year?For 2014, Kasay Company initiated a sales promotion campaign that included the expenditure of an additional $30,000 for advertising. At the end of the year, Scott Brown, the president, is presented with the following condensed comparative income statement: Instructions1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to net sales for each of the years. Round to one decimal place.2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in(1).
- SAAC Inc. Has developed many software applications for coding and data analytics. In 2020, it had a retained earnings balance of $100,000 on April 1, and the company had the following transactions during April: Issued common stock for cash, $50,000 Provided services to customers on account, $20,000 Provided services to customers in exchange for cash, $9,000 Purchased equipment and paid cash, $43,000 Paid April rent, $8000 Paid employees' salaries for April, $7000 What was SAAS's retained earnings balance at the end of April?Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is$250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000. Required What are total expenses for Kyzera in its most recent year?Following are the transactions of Green Energy Company. May 1 The company provided $2,000 of sustainability consulting services on credit to a customer. May 3 The company purchased $300 of energy-efficient supplies on credit. May 9 The company collected $500 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $300 cash toward the payable for energy-efficient supplies. May 31 The company paid $100 cash for May’s renewable energy Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense. Date Assets = Liabilities + Equity May 1 = + May 3 = + May 9 = + May 9 = + May 20 =…
- Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000. What is the average total amount of liabilities plus equity for Kyzera?Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics. The December 31, 2021, year-end trial balance contained the following income statement items: Account Title Debits CreditsSales revenue $ 12,500,000Interest revenue 50,000Loss on sale of investments $ 100,000Cost of goods sold 6,200,000Selling expense 620,000General and administrative expense 1,520,000Interest expense 40,000Research and development expense 1,200,000Income tax expense 900,000 Required:Calculate…Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $250,000. In its most recent year, Kyzera reported net income of $65,000 on revenues of $475,000. What is Kyzera’s return on assets?
