Deductive reasoning usually takes place in

Target Corporation prepares its financial statements according to U.S. GAAP. Target’s financial statements and disclosure notes

Mandarinka [93]

Answer:

1. What amounts did Target report for the following items for the year ended January 30, 2016?

b) Income from current operations

$2,669 million

c) Net income or net loss

$2,737 million

d) Total assets

$37,431 million

e) Total equity

$10,953

2) What was Target’s basic earnings per share for the year ended January 30, 2016?

$4.74 per share

Why do you think Target has chosen to have its fiscal year end on January 30, as opposed to December 31?

I guess that Christmas Holiday season is very important for them and a large percentage of their revenue is generated during November and December. It reports at the end of January to have time to consolidate its financial statements.

3) Regarding Target’s audit report:

Who is Target’s auditor?

Ernst & Young

Did Target receive a "clean" (unmodified) audit opinion?

yes, it did

7 0

3 years ago

On January 1, Year 1, Greenfield, Inc. issues $100,000 of 9% bonds maturing in 10 years when the market rate of interest is 8%.

ELEN [110]

Answer:

When using a financial calculator to compute the issue price of the bonds, the applicable periodic interest rate ("I") is 3.923%

Explanation:

Hi, first, the discount interest rate that you have to choose is 8%, because 9% is the coupon rate (which in our case would be 9%/2=4.5% and this is used only to find the amount to be paid semi-annually).

Now we know we have to choose 8%, but this is an effective rate (I know this is an effective rate because no units were mentioned), and by definition it is a periodic rate, but it is not the rate that we need since the payments are going to be made in a semi-annual way, therefore we need to use the following equation.

$r(semi-annual)=[1+r(annual)]^{\frac{1}{2} } -1$

So, everything should look like this.

$r(semi-annual)=[1+0.08]^{\frac{1}{2} } -1=0.03923$

Therefore, the periodic interest that yuo have to use to calculate the price of the bond is 3.923%

Best of luck.

8 0

3 years ago

Suppose someone borrows $552,000 today to buy a house in Davis, CA. If the annual interest rate is 4%, with monthly compounding,

galina1969 [7]

Answer:

Monthly Repayment on Loan = $2634.06

Explanation:

given data

principal = $552,000

annual interest rate = 4% = 0.333% monthly

solution

for get here fair value monthly mortgage payment we consider here time period is 30 year = 360 months

so now we apply here Monthly Repayment on Loan formula that is

Monthly Repayment on Loan = principal × $\frac{r(1+r)^t}{(1+r)^t -1}$ .................1

put here value and we get

Monthly Repayment on Loan = 552000 × $\frac{r(1+0.333)^{360}}{(1+0.333)^{360} -1}$

Monthly Repayment on Loan = $2634.06

4 0

3 years ago

Monkey See. Monkey Take and<br> Humans vs Chimps

DedPeter [7]

Answer:

Monkey do

Explanation:

3 0

2 years ago

Read 2 more answers

Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.

blagie [28]

Answer: I found the complete question on Google:

By 2017, McDonald's had stopped selling Chicken McNuggets and other products made from chickens fed antibiotics. The change increased McDonald's costs, but an article in the Wall Street Journal noted that "...McDonald's ability to raise its prices is limited because of stiff competition."Source: David Kesmodel, Jacob Bunge, and Annie Gasparro, "McDonald's to Curb Antibiotics in Chicken," Wall Street Journal, March 4, 2015. Does this "stiff competition" mean that the demand curve for McDonald's Chicken McNuggets is horizontal? Briefly explain.

And the correct answer is: "B. No, the demand curve is not horizontal because Chicken McNuggets are not identical to other chicken products.".

8 0

3 years ago