1. What are the 2015 amounts Starbucks Corp. reports for total assets, total lia

Question

1.    What are the 2015 amounts Starbucks Corp. reports for total assets, total liabilities, and total stockholders’ equity in the balance sheet. Does the basic accounting equation balance? (Hint: Locate “Item 8: Financial Statements and Supplementary Data”)

2.    Starbucks refers to its income statement using another name. What is it?

3.    Who were Starbucks Corp.’s external auditors? (Hint: you may find the auditor information as well as the auditor’s opinion from “REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM” in the annual report.)

4.    What does the Report of Independent Registered Public Accounting firm indicate about the amounts represented in the company’s financial statements?

5.    What does the Report of Independent Registered Public Accounting firm indicate about Starbucks Corp.’s internal controls?

6.    What is the amount of cash reported in the most two most recent years? By how much has cash increased/decreased?

*Here is the link to the annual report*

http://www.sec.gov/Archives/edgar/data/829224/000082922415000038/sbux-9272015x10k.htm

Explanation / Answer

Ans-

1

(All amount in millions $,)

TOTAL ASSETS=12,446.1

TOTAL LIABILITIES AND EQUITY=12,446.1

Total shareholders’ equity=5,818.0

2

RESULTS OF OPERATIONS

3

Deloitte & Touche LLP

4

In Deloitte &Touche LLP opinion, such consolidated financial statements present fairly, in all material respects, the financial position of Starbucks Corporation and subsidiaries as of September 27, 2015, and September 28, 2014, and the results of their operations and their cash flows for each of the three years in the period ended September 27, 2015, in" conformity with accounting principles generally accepted in the United States of America".

5

InDeloitte &Touche LLP opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of September 27, 2015, based on the criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission

6

Cash and cash equivalents

(in millions $)

2015

1,530.1

2014

1,708.4

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