RWP8-5 (Static) Edgar Research Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report (10-K) for Target Corporation for the year ended February 1, 2020. Locate the "Consolidated Statements of Financial Position" (balance sheet). You may also find the annual report at the company's website. Required: 1. What amount does the company report for current liabilities in the most recent year? 2. What amount does the company report for current assets in the most recent year? 3a. Calculate the current ratio? 3b. Using 1.1 as the industry average, is Target more or less liquid than its industry peers? 4. What amount does the company report as a current liability associated with gift cards, net of estimated breakage? (Hint. See Note 13). 5. The company owes for "debt and other borrowings." What amount is due to be paid back within the next 12 months? (Enter your answers in millions, for example, 15,500,000,000 should be entered as 15,500. Round the current ratio to 2 decimal places.) 1. What amount does the company report for current liabilities in the most recent year? 2. What amount does the company report for current assets in the most recent year? 3a. Calculate the current ratio. $ 17,855 $ 16,294 0.91 Less Liquid 4. What amount does the company report as a current liability associated with gift cards, net of estimated breakage? (Hint: See Note 13) $ 1 5. What amount is due to be paid back within the next 12 months? $ 3,252 3b. Is Target more or less liquid than its industry peers?
RWP8-5 (Static) Edgar Research Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report (10-K) for Target Corporation for the year ended February 1, 2020. Locate the "Consolidated Statements of Financial Position" (balance sheet). You may also find the annual report at the company's website. Required: 1. What amount does the company report for current liabilities in the most recent year? 2. What amount does the company report for current assets in the most recent year? 3a. Calculate the current ratio? 3b. Using 1.1 as the industry average, is Target more or less liquid than its industry peers? 4. What amount does the company report as a current liability associated with gift cards, net of estimated breakage? (Hint. See Note 13). 5. The company owes for "debt and other borrowings." What amount is due to be paid back within the next 12 months? (Enter your answers in millions, for example, 15,500,000,000 should be entered as 15,500. Round the current ratio to 2 decimal places.) 1. What amount does the company report for current liabilities in the most recent year? 2. What amount does the company report for current assets in the most recent year? 3a. Calculate the current ratio. $ 17,855 $ 16,294 0.91 Less Liquid 4. What amount does the company report as a current liability associated with gift cards, net of estimated breakage? (Hint: See Note 13) $ 1 5. What amount is due to be paid back within the next 12 months? $ 3,252 3b. Is Target more or less liquid than its industry peers?
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 10PA: Elegant Universal uses the balance sheet aging method to account for uncollectible debt on...
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Transcribed Image Text:RWP8-5 (Static) Edgar Research
Using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), find the annual report (10-K) for Target Corporation for the
year ended February 1, 2020. Locate the "Consolidated Statements of Financial Position" (balance sheet). You may also find the annual
report at the company's website.
Required:
1. What amount does the company report for current liabilities in the most recent year?
2. What amount does the company report for current assets in the most recent year?
3a. Calculate the current ratio?
3b. Using 1.1 as the industry average, is Target more or less liquid than its industry peers?
4. What amount does the company report as a current liability associated with gift cards, net of estimated breakage? (Hint. See Note
13).
5. The company owes for "debt and other borrowings." What amount is due to be paid back within the next 12 months?
(Enter your answers in millions, for example, 15,500,000,000 should be entered as 15,500. Round the current ratio to 2 decimal
places.)
1. What amount does the company report for current liabilities in the most recent year?
2. What amount does the company report for current assets in the most recent year?
3a. Calculate the current ratio.
$
17,855
$
16,294
0.91
Less Liquid
4. What amount does the company report as a current liability associated with gift cards, net of estimated
breakage? (Hint: See Note 13)
$
1
5. What amount is due to be paid back within the next 12 months?
$
3,252
3b. Is Target more or less liquid than its industry peers?
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