Libby_7e_MBA_Companion_Solutions

Deferred revenue

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Unformatted text preview: . . . . . . . . . . . . . . . . . . . . . . . . . . Deferred revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Current portion of long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . See Notes to Consolidated Financial Statements. 41 Page 14 of 21 Note 12: Leases In the fourth quarter of fiscal 2009 Starbucks determined that there was an immaterial classification error in the lease footnote of the 2008 10-K. Amounts of $25.7 million and $22.7 million for the fiscal years ended E 30, 2007, respectively, were incorrectly classified as contingent rent that September 28, 2008 and SeptemberND-OF-CHAPTER MATERIAL should have been classified as minimum rentals. The total for rent expense under operating leases was not impacted. The following table reflects the corrected amounts for fiscal 2008 and 2007. STARBUCKS’ 2009 LEASE FOOTNOTE EXCERPTS Rental expense under operating lease agreements (in millions): Fiscal Year Ended Sep 27, 2009...
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