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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?

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?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.) X Answer is complete but not entirely correct. 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. 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. What amount is due to be paid back within the next 12 months? $ $ 17,855 x 16,294 x 0.91 X Less Liquid $ $ 1,036 3,252 x
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.) X Answer is complete but not entirely correct. 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. 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. What amount is due to be paid back within the next 12 months? $ $ 17,855 x 16,294 x 0.91 X Less Liquid $ $ 1,036 3,252 x
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