Horngren's Accounting, Student Value Edition (12th Edition)
Horngren's Accounting, Student Value Edition (12th Edition)
12th Edition
ISBN: 9780134487151
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
Question
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Chapter 8, Problem 8.1FSC
To determine

Requirement 1:

The name of the Target’s outside auditing firm and its office

To determine

Requirement 2:

The person who is primarily responsible for maintaining effective internal control over financial reporting.

To determine

Requirement 3:

If it appears that Target’s internal controls are adequate and the reason for this opinion.

To determine

Requirement 4:

The standards of auditing used by the auditors in examining Target’s financial statements.

To determine

Requirement 5:

The changes in cash balance (including cash equivalent) during the year and the beginning and ending cash balance

To determine

Requirement 6:

The type of instrument considered as cash equivalent by Target Corporation

To determine

Cash Ratio

Requirement 7:

Cash Ratio is the measure of company’s liquidity and the ability to pay its current liabilities with its cash and cash equivalent. It is measured by dividing its cash and cash equivalent by its current liabilities.

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Chapter 8 Solutions

Horngren's Accounting, Student Value Edition (12th Edition)

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