Compute net profit margin for the year ended

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Reference no: EM132090285

Question: Preparing Closing Entries and Computing and Analyzing Net Profit Margin Starbucks Corporation purchases and roasts high-quality whole bean coffees and sells them along with fresh-brewed coffees, its exclusive line of Frappucino blended beverages, Italian-style espresso beverages, and premium teas. The following is a simplified list of accounts and amounts reported in its accounting records. The accounts have normal debit or credit balances, and the dollars are rounded to the nearest million. Assume that the year ended on September 30, 2010.

Required: 1. Prepare the closing entries required at September 30, 2010.

2. Compute net profit margin for the year ended September 30, 2010.

3. In the year ended September 30, 2009, assume that Starbucks had an 8.6% net profit margin and that the industry ratio was 10.5%. What does this information suggest to you about Starbucks?

Reference no: EM132090285

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