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Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281

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BuyFindarrow_forward

Intermediate Accounting: Reporting...

3rd Edition
James M. Wahlen + 2 others
ISBN: 9781337788281
Textbook Problem
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Analyzing Starbucks’s Balance Sheet Disclosures

Review the financial statements and related notes of Starbucks in Appendix A.

Required:

Answer the following questions pertaining to Starbucks’s balance sheet as of October 1, 2017, and related information. (Note: You do not need to make any calculations. All answers may be found in the financial report.)

  1. 1. What was the amount of the current assets and current liabilities?
  2. 2. What was the single largest current asset and current liability?
  3. 3. What was the amount in the allowance for doubtful accounts?
  4. 4. What is the par value of the company’s common stock? How many shares were issued and outstanding?
  5. 5. What was the total amount of inventory? What were the principal categories of inventory?
  6. 6. What costing method was used for inventories?
  7. 7. What was the total property, plant, and equipment before and after accumulated depreciation?
  8. 8. What was the accumulated depreciation? What method does the company use to depreciate its property, plant, and equipment?
  9. 9. What was the long-term debt? When is the debt due?
  10. 10. What was the retained earnings balance? What caused retained earnings to change in 2017?
  11. 11. What was the accumulated other comprehensive income/(loss) balance?
  12. 12. What was the noncontrolling interest balance?

1.

To determine

Find the amount of current assets and current liabilities.

Explanation

The amount of current assets and current liabilities of Corporation S as of October 1, 2017 are $5,283.4 million and $4,220...

2.

To determine

Find the amount of single largest current asset and current liability.

3.

To determine

Find the amount in the allowance for doubtful accounts.

4.

To determine

Find the par value of the company’s common stock and the numbers of shares were issued and outstanding.

5.

To determine

Find the total amount of inventory and find the principal categories of inventory

6.

To determine

Find the costing method used for inventories.

7.

To determine

Find the total property, plant, and equipment before and after accumulated depreciation.

8.

To determine

Find the accumulated depreciation and find the method used by the company to depreciate its property, plant, and equipment.

9.

To determine

Find the long-term debt and find the due period.

10.

To determine

Find the amount of retained earnings balance and find the reason for changing the retained earnings in 2017.

11.

To determine

Find the accumulated other comprehensive income/loss balance.

12.

To determine

Find the non-controllable interest balance.

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