1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Jacob wants to buy a $500,000 15-year term life policy, and the annual premium rate (per $1000 of face value for his age group i
Charra [1.4K]
I just took this test the answer is $50,850 
4 0
4 years ago
Read 2 more answers
Ramona owns a small coffee shop, where she works full-time. Her total revenue last year was $100,000, and her rent was $3,000 pe
Radda [10]

Answer:

Implicit Costs = $35,000

correct option is b. $35,000

Explanation:

given data

total revenue = $100,000

rent = $3,000

overhead averages = $500 per month

Ramona earn = $35,000 per year

to find out

total implicit costs

solution

we know that here Total Rent paid is

Total Rent paid = 3000 × 12

Total Rent paid = $36000

and

Total employee payment = 2000 ×  12

Total employee payment  = $24000

and

Total ingredient and overhead = 500×  12

Total ingredient and overhead = $6000

and

Explicit Costs = 36000 + 24000 + 6000 = $66000

so here

Implicit Costs = The opportunity cost of not working as a manager

Implicit Costs = $35,000

correct option is b. $35,000

5 0
4 years ago
Suppose that the velocity of money is stable, 4% real economic growth is occurring, the rate of inflation is 4%, unemployment is
svp [43]

Answer:

8%

Explanation:

  • Growth in money supply + Growth in velocity = Inflation + Real economic growth

Given:

  • Growth in velocity = 0 (stable at 4% hence 0 growth)
  • Inflation = 4%
  • Real economic growth = 4%

Using formula

  • Growth in money supply + Growth in velocity = Inflation + Real economic growth

  • Growth in money supply + 0 = 4% + 4%
  • Growth in money supply = 8%
7 0
3 years ago
Calculating Economic Value Added East Mullett Manufacturing earned operating income last year as shown in the following income s
Serjik [45]

Answer:

$14,880

Explanation:

The formula to compute EVA is shown below:

= Net operating income or earnings after taxes - (Total capital employed × cost)

= $45,360 - ($381,000 × 8%)

= $45,360 - $30,480

= $14,880

We simply applied the economic value added formula so that the accurate value can come.

All other information which is given is not relevant. Hence, ignored it

3 0
4 years ago
What is the most frequently reported relational maintenance strategy?
inna [77]
The most frequently reported relational maintenance strategy is OPENNESS IN COMMUNICATION.
Relational maintenance strategies refers to the methods used by individuals to keep their relationships with other people alive. There are different types of relational maintenance strategy, these include: assurance, positivity, openness, sharing tasks and activities and social network.
8 0
3 years ago
Other questions:
  • If accounts receivable and inventories increased by $85,000 (total), accounts payable increased by $14,000, and depreciation add
    10·1 answer
  • Dolce Co. estimates its sales at 180,000 units in the first quarter and that sales will increase by 18,000 units each quarter ov
    8·1 answer
  • Quality Builders, a home builder in the United States, makes use of many suppliers to provide quality products in the homes it b
    15·1 answer
  • HURRY!!!!!!!!! Thank you
    7·1 answer
  • Liquidity example in business
    15·2 answers
  • What is an example of a<br> government limit on the use of business<br> property?
    12·1 answer
  • The long-run Fisher effect links rises in inflation with rises in nominal interest rates by the same proportion, resulting in __
    9·1 answer
  • Masterson, Inc., has 8 million shares of common stock outstanding. The current share price is $68, and the book value per share
    8·1 answer
  • In need of some general advice.
    14·1 answer
  • Purchases transactions
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!