Homework Answers
1. Consolidated statements of financial position
2.a.current assets = 12564
b. Long term assets = 26435
c. Total assets. = 38999
d. current liabilities = 13201
e. Long term liabilities = 14089
f. Total liabilities = 27290
g. Total shareholders equity = 11709
3. a.Largest current Asset = inventory = 8657
b. Largest current liability = accounts payable = 8677
4. a. Current ratio = 0.95
b.Debt equity ratio = 0.97
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Required information [The following information applies to the questions displayed below.) Target Corporation prepares its financial...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com). Target Case (Static) Parts 1 to 4 Required: 1. By what name does Target label its balance sheet? 2. What amounts did Target report for the following items on February...
Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes...
Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company’s website (www.target.com). Required: 1. By what name does Target label its income statement? 2. What amounts did Target report for items llisted below for the year ended February 3, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as...
2015 Analysis and Interpretation of Liquidity and Solvency Refer to the financial information for Target Corporation...
2015 Analysis and Interpretation of Liquidity and Solvency Refer to the financial information for Target Corporation (TGT), presented below, to answer the following. Target Corporation Balance Sheets January 31, February 1, ($ millions) 2014 Assets Cash and cash equivalents $2,210 $670 Inventory 8,790 8,278 Other current assets 3,087 2,625 Total current assets 14,087 11,573 Property and equipment, net 25,958 26,412 Other noncurrent assets 1,359 6,568 Total assets $41,404 $44,553 Liabilities and shareholders' investment Accounts payable $7,759 $7,335 Accrued and other...
Target Case (Static) L04-3,4-4, 4-6, 4-8 Target Corporation prepares its financial statements according to U.S. GAAP....
Target Case (Static) L04-3,4-4, 4-6, 4-8 Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com) Required: 1. By what name does Target label its income statement? 2. What amounts did Target report for Items listed below for the year ended February 3, 2018. (Enter your answers in millions...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124, 100 Selling expenses 102,900 46,920 50,000 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73,600 Income before taxes 117,932 50,660 50,500 Income tax expense 40, 800 10,370...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124, 100 Selling expenses 102,900 46,920 50,000 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73,600 Income before taxes 117,932 50,660 50,500 Income tax expense 40, 800 10,370...
Target Corporation prepares its financial statements according to U.S. GAAP
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material also is available under the Investor Relations link at the company's website (www.target.com). Required: 1. What amounts did Target report for the following items for the year ended February 3, 2018? 2. What was Target's basic earnings per share for the year ended February 3, 2018? (Round your answers to 2 decimal places.) 3. What is...
February 2. January 21 2018 2017 52.643 8652 1.264 12.564 25.018 1.417 538.999 52.512 8309 1.169...
February 2. January 21 2018 2017 52.643 8652 1.264 12.564 25.018 1.417 538.999 52.512 8309 1.169 11.990 24,658 783 (5 millions) Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment, net Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current lite Current portion of long term debt and notes payable Total current liabilities Long-term debit Deferred income taxes Other noncurrent liabilities Total shareholders Investment Total liabilities and shareholders'...
[The following information applies to the questions displayed below.) Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com). Target Case (Static) Parts 1 to 4 Required: 1. By what name does Target label its balance sheet? 2. What amounts did Target report for the following items on February...
2015 Analysis and Interpretation of Liquidity and Solvency Refer to the financial information for Target Corporation (TGT), presented below, to answer the following. Target Corporation Balance Sheets January 31, February 1, ($ millions) 2014 Assets Cash and cash equivalents $2,210 $670 Inventory 8,790 8,278 Other current assets 3,087 2,625 Total current assets 14,087 11,573 Property and equipment, net 25,958 26,412 Other noncurrent assets 1,359 6,568 Total assets $41,404 $44,553 Liabilities and shareholders' investment Accounts payable $7,759 $7,335 Accrued and other...
Target Case (Static) L04-3,4-4, 4-6, 4-8 Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the company's website (www.target.com) Required: 1. By what name does Target label its income statement? 2. What amounts did Target report for Items listed below for the year ended February 3, 2018. (Enter your answers in millions...
Required information The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 557,905 $ 427,401 $ 296,600 Cost of goods sold 335,859 267,980 189,824 Gross profit 222,046 159,421 106,776 Selling expenses 79,223 58,981 39, 151 Administrative expenses 50, 211 24,618 Total expenses 129,434 96,592 63,769 Income before taxes 92,612 62,829 43, 007 Income tax...
Required information [The following information applies to the questions displayed below.) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $ 479,843 $ 367,599 $ 255, 100 Cost of goods sold 288,865 231,587 163,264 Gross profit 190,978 136,012 91,836 Selling expenses 68,138 50,729 33,673 Administrative expenses 43,186 32,349 21,173 Total expenses 111,324 83,078 54,846 Income before taxes 79,654 52,934 36,990 Income tax expense...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124, 100 Selling expenses 102,900 46,920 50,000 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73,600 Income before taxes 117,932 50,660 50,500 Income tax expense 40, 800 10,370...
Required information [The following information applies to the questions displayed below) Selected comparative financial statements of Korbin Company follow. KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2019, 2018, and 2017 2019 2018 2017 Sales $555,000 $340,000 $278,000 Cost of goods sold 283,500 212,500 153,900 Gross profit 271,500 127,500 124, 100 Selling expenses 102,900 46,920 50,000 Administrative expenses 50,668 29,920 22,800 Total expenses 153,568 76,840 73,600 Income before taxes 117,932 50,660 50,500 Income tax expense 40, 800 10,370...
Target Corporation prepares its financial statements according to U.S. GAAP. Target's financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material also is available under the Investor Relations link at the company's website (www.target.com). Required: 1. What amounts did Target report for the following items for the year ended February 3, 2018? 2. What was Target's basic earnings per share for the year ended February 3, 2018? (Round your answers to 2 decimal places.) 3. What is...
February 2. January 21 2018 2017 52.643 8652 1.264 12.564 25.018 1.417 538.999 52.512 8309 1.169 11.990 24,658 783 (5 millions) Assets Cash and cash equivalents Inventory Other current assets Total current assets Property and equipment, net Other noncurrent assets Total assets Liabilities and shareholders' investment Accounts payable Accrued and other current lite Current portion of long term debt and notes payable Total current liabilities Long-term debit Deferred income taxes Other noncurrent liabilities Total shareholders Investment Total liabilities and shareholders'...
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