Lulu Vs. Macy's
Which two global factors have caused Lululemon’s cost of goods sold to increase?
COVID-19 and Inflation
Did Lululemon's Net Income Increase, Deteriorate, or stay the same from 2019-2021?
Increase
What major type of clothing did Lululemon first create to rise to fame?
Yoga
Finish the equation:
A=L+_
A=L+E
Does Lululemon or Macy's have a higher Stock Price?
Lululemon
Lululemon bought a fitness start up company and recognized the expenses– $0 recognized in 2019, $29.8 million in 2020, $41.3 million in 2021. Sales of the device have continuously increased since 2018 and show minimal signs of retracting, even considering the $1,400 market price with an additional $39 monthly service fee. Lululemon expects this new product to generate between $250,000,000 and $275,000,000, which is likely to increase as years go on. What is the name of this acquisition?
MIRROR
In 2021 Lululemon became the official sponsor for what Olympic team?
Canada
What is the Journal Entry when you purchase Office Supplies with Cash?
Debit: Office Supplies
Credit: Cash
Would it be smarter to invest in Lululemon or Macy's, and why?
Lululemon
What method does Lululemon use to compute its inventory?
Weighted-Average-Method
What year did Lululemon start providing Men's clothes?
2014
How do you calculate interest on an Amortization Table?
Market Interest Rate x Carrying Value
In 2021, How much did Macy's and Lululemon issue in Dividends?
Macy's: 90 Million
Lululemon: None
What was Lululemon's largest Investing Activity?
Property, Plant, and Equipment (P,P&E)
The first major item Lululemon sold for men were their ABC pants, what does ABC stand for?
Anti Ball Crusher
What is the Journal Entry for Selling Treasury Stock for more than it was originally repurchased for?
Credit: Additional Paid In Capital
Treasury Stock (Shares x Original Purchase Price)
In 2021, what was the Cost of Goods Sold (COGS) for Lululemon and Macy's?
Lululemon: 2.6 Billion
Macy's: 14.9 Million
Lululemon does not “anticipate paying any cash dividends on [its] common stock in the foreseeable future” (L.L.23). This means that there is no deduction from its retained earnings due to the payment of dividends. However, the increase in net income - around 65% - should have caused a similar impact on retained earnings, yet the account only had a $166,412 increase. What is Lululemon’s primary deduction on retained earnings - aka what is Lululemon using its retained earnings for?
Repurchase of Stock
When was Lululemon's Initial Public Offering (IPO)?
July 2nd, 2007
Perform the Adjusting Entry for a Patent purchased in August for 127,800 with no Interest and residual value? Assuming the company closes their books on 12/31 each year
Debit: Amortization Expense
Credit: Patent