Chapter 3, Problem 3.14BYP

Analysis Case 3–14

Balance sheet information

• LO3–2 through LO3–4

Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes for the year ended January 30, 2016, are available in the Connect library. This material also is available under the Investor Relations link at the company’s website (www.target.com).

Real World Financials

Required:

1. What categories does the company use to classify its assets? Its liabilities?

2. Why are investments shown as a current asset?

3. Explain the current liability “Accrued and other current liabilities.”

4. What purpose do the disclosure notes serve?

5. What method does the company use to depreciate its property and equipment?