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erica [24]
3 years ago
6

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. This material also is available under the Investor
1. What amounts did Target report for the following items for the year ended January 30, 2016?
b) Income from current operations
c) Net income or net loss
d) Total assets
e) Total equity
2) What was Target’s basic earnings per share for the year ended January 30, 2016?
Why do you think Target has chosen to have its fiscal year end on January 30, as opposed to December 31?
3) Regarding Target’s audit report:
Who is Target’s auditor?
Did Target receive a "clean" (unmodified) audit opinion?
Business
1 answer:
Mandarinka [93]3 years ago
7 0

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

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Yakvenalex [24]

<u>Foreign Exchange Market</u> are electronic markets in which banks and institutional traders buy and sell various currencies on behalf of businesses and other clients

<h3>What is Foreign Exchange Market?</h3>

A decentralized, open market where currencies are traded on a worldwide scale is known as the foreign exchange market. For every currency, this market establishes exchange rates. It covers every facet of acquiring, disposing of, and exchanging currencies at the going rate or set rate.

<h3>Why foreign exchange is important?</h3>

Foreign exchange refers to the exchange of various national currencies or units of account. It is crucial because a country's economic health and, consequently, the happiness of all its citizens, are determined by the exchange rate, or the cost of one currency in relation to another.

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3 0
2 years ago
If total liabilities decreased by $15,000 and stockholders' equity increased by $10,000 during a period of time, then total asse
scoray [572]

Answer:

The total assets must change by B) $5,000 decrease

Explanation:

hi, remember that:

Assets=Liabilities+Equity

If liabilities decrease by $15,000 and equity increases by $10,000...

Assets=(Liabilities-15,000)+(Equity+10,000)

Assets=Liabilities+Equity-5,000

Therefore, to balance this equation, we have to substract -$5,000 from the assets, therefore, the assets decrease by 5,000, which is B)

Best of luck.

4 0
3 years ago
Use the following data to determine the total dollar amount of assets to be classified as current assets
borishaifa [10]

Answer:

the total dollar amount of assets to be classified as current assets is $220,000.

Note that the correct option is $220,000 based on the information provided in the question. However, this is not included in the option. Kindly confirm the correct options from your teacher.

Explanation:

Current assets can be described as a group of assets that are can be easily converted to cash within a year. Current assets are therefore assets which are expected to be used, sold or consumed in a normal business operations within a financial year.

Current assets is one of th component of a balance sheet and its components include cash, inventories, account receivables, advance payment (prepayments), and others.

For this question, the total dollar amount of assets to be classified as current assets can be determined as follows:

                  Carne Auto Supplies

    Current Assets Amount Determination

                  December 31, 2012

<u>Particulars                                      Amount ($)</u>

Cash                                                   60,000  

Prepaid Insurance                             40,000  

Accounts Receivable                        50,000  

Inventory                                           <u> 70,000  </u>

Total current assets                      <u> 220,000   </u>

Therefore, the total dollar amount of assets to be classified as current assets is $220,000.

6 0
3 years ago
Benjamin Graham, the father of value investing, once said, "In the short run, the market is a voting machine, but in the long ru
Ber [7]

Answer:

1- a. A stock's intrinsic value is based on true investor return.

2- a. Most investors prefer companies that can rise prices beyond reasonable levels.

b. Successful companies can avoid raising external funds in the financial markets.

Explanation:

Intrinsic value of a company's stock is the real value of stock which is based on systematic factors affecting the company. The factors affecting the intrinsic value of company are usually internal factors. The performance of company management, employee satisfaction and its operational efficiencies are the factor which drive intrinsic value of a company.

6 0
2 years ago
Suppose that the federal reserve decides to decrease the money supply with a $300 sale of treasury bills. Complete the tables th
ANEK [815]

The monetary base is a liability, whereas Treasury notes are assets.

tables that represent the financial position of the federal reserve and commercial banks after this open-market operation:

A $ 300, B $ 300, C $ -300, D $ 300

a negative sign use for reduced values.

<h3>What do we mean by asset?</h3>

A resource having economic worth that a person, business, or nation owns or manages with the hope that it will someday be useful is referred to as an asset. A company's balance sheet lists assets. They are acquired or produced to raise a company's value or improve the operations of the company. Physical commodities like equipment, real estate, raw materials, and inventories are considered assets. Intangible objects like patents, royalties, and other forms of intellectual property are also considered assets.

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