User Account

All Pages

What are the components of target current liabilities

Assignment Help Financial Accounting
Reference no: EM133103989

Question - 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.

Required - The Case Brief response to the questions below is a 2-3 page paper. The case brief must be in an APA format.

Target's Consolidated Statement of Financial Position (its balance sheet) discloses its current assets and current liabilities. After reviewing Targets Financial Reports and Disclosures, please answer the following questions:

1. What are the three components of Target's current liabilities?

2. Are current assets sufficient to cover current liabilities? What is the current ratio for the year ended February 3, 2018? How does the ratio compare with the prior year?

3. Why might a company want to avoid having its current ratio be too low? Too high?

4. Disclosure Note 19 discusses Target's accounting for contingencies. What is Target's approach for accruing losses for litigation liabilities? Is their approach appropriate?

5. In conclusion, what suggested solution will you recommend in order to improve the current ratio of Target?

Reference no: EM133103989

Questions Cloud

Record the journal entry to correct the december amounts : Record the journal entry to correct the December 24 payroll amounts. Record the journal entry to accrue the payroll amount
Would you expect workers at airbus : Would you expect workers at Airbus to have the same marginal product as workers at Boeing? Explain carefully
Calculate the capital gains and losses : Calculate the capital gains and losses for the scenarios: An art collector bought a statue for $750,000 in 2019 and sold it earlier this year for $655,000
Compare the calculated values from K : Compare the calculated values from K to the calculated values for Q samples. Explain your selection of IN or DS for each sample
What are the components of target current liabilities : What are the three components of Target's current liabilities? Why might a company want to avoid having its current ratio be too low? Too high
Prepare december year-end adjusting entry for uncollectibles : Warner Company's year-end unadjusted trial balance shows accounts receivable of $99,000, Prepare December year-end adjusting entry for uncollectibles
Calculate the WACC for Lulia Apparel plc : The expected return on the market portfolio is 15% and the expected risk-free rate is 4%. Calculate the WACC for Lulia Apparel plc
Data Governance Assignment : Data Governance Assignment Help and Solution, Ascencia Business School - Assessment Writing Service - How can organizations protect data, information, AI models
What should be estimate as the dealer cost : Travis Whitcomb wants to purchase a new car with a $25,000 base price and options totaling $2,190. What should be estimate as the dealer cost

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the projected stock price in six year

Ghost Riders Co. has an EPS of $1.59 that is expected to grow at 7.9 percent per year. If the PE ratio is 18.55 times, what is projected stock price in 6 year

  Prepare a month -by-month purchases budget for may and june

Due to this concern, you want to maintain an end of month inventory equal to 50% of each approaching month. You expect to begin May with only 100 units on hand. Prepare a month -by-month purchases budget for May, June and July.

  Enter up the sales day book from the given details

You are to enter up the Sales Day Book from the following details. Post the items to the relevant accounts in the Sales Ledger and then show the transfer to the sales account in the General Ledger.

  Conversion costs are incurred evenly throughout production

Cosby uses a weighted-average process-costing system. All materials are added at the beginning of the process; conversion costs are incurred evenly throughout production. The company finished 40,000 units during the period and had 15,000 units in pro..

  What is the balance sheet presentation for each independent

What is the balance sheet presentation for each independent case provided above In each case, the company successfully negotiated the financing

  Revaluation for building and impairment loss for machinery

MAA261 FINANCIAL ACCOUNTING ASSIGNMENT - CASE DATA FOR GYM LIFE PTY LTD. Record the revaluation for the building and impairment loss for the machinery

  Compute its current price

Suppose Gomas Enterprises has issued a bond that pays 11% interest ($55 semiannual coupons), If the bond matures in 20 years, compute its current price

  Find and calculate operating cash flow

Calculate operating cash flow if a firm has sales of $1,000,000, depreciation of $220,000 operating profit (EBIT) of $280,000, interest expense of $50,000

  How transaction would be reflected in financial statements

Explain why Believer believes this lease should be categorised as a finance lease. You should refer to relevant international accounting standards to justify your answer.

  Equation to forecast broussards additional funds

Broussard Skateboard's sales are expected to increase by 25% from $7.4 million in 2013 to $9.25 million in 2014. Its assets totaled $2 million at the end of 2013. Broussard is already at full capacity, so its assets must grow at the same rate as proj..

  Determine what does deegan mean by the statement

Created primarily to provide benefits to the parties that actually develop or commission the frameworks'. What does Deegan mean by this statement?

  Counted their inventory at the end of the year

Comstock Company counted their inventory at the end of the year and had 220 units.Included in that amount were 20 units Comstock held on consignment from DavidsonInc. Comstock purchased 50 units of inventory on December 27, FOB shipping point. How ma..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd