Ask Question
5 July, 09:58

On October 2, 2016 Starbucks Corporation reported, on its Form 10-K, the following (in millions):

Total assets $14,329.5

Total stockholders' equity 5,890.7

Total current liabilities 4,546.9

1. What did Starbucks report as total liabilities on October 2, 2016?

+4
Answers (1)
  1. 5 July, 13:11
    0
    The total liabilities of the Starbucks on October 2, 2016 will be $12,985.7

    Explanation:

    The total liabilities will be computed using the accounting equation, which is as:

    Accounting Equation

    Assets = Liabilities + Shareholders Equity

    Assets = (Current liabilities + Long term liabilities) + Shareholders Equity

    Putting the values here in the accounting equation:

    $14,329.5 = Liabilities + $5,890.7

    Liabilities = $14,329.5 - $5,890.7

    = $8,438.8

    So, the total liabilities will be:

    Total liabilities = Liabilities (long term) + Current liabilities

    = $8,438.8 + $4,546.9

    = $12,985.7
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On October 2, 2016 Starbucks Corporation reported, on its Form 10-K, the following (in millions): Total assets $14,329.5 Total ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers