The following is a portion of the balance sheets of Macys, Inc., for the years ended February
Question:
The following is a portion of the balance sheets of Macy’s, Inc., for the years ended February 1, 2020, and February 2, 2019:
Required:
1. What is Macy’s debt to equity ratio for the year ended February 1, 2020?
2. What would Macy’s debt to equity ratio be if we excluded long-term net deferred tax liabilities from its calculation? What would be the percentage change?
3. What might be the rationale for not excluding long-term net deferred tax liabilities from liabilities when computing the debt to equity ratio?
Transcribed Image Text:
Liabilities and Shareholders' Equity Current Liabilities: Short-term debt Merchandise accounts payable Accounts payable and accrued liabilities Income taxes Total Current Liabilities Long-Term Debt Long-Term Lease Liabilities Deferred Income Taxes Other Liabilities Shareholders' Equity: Common stock Additional paid-in capital Accumulated equity Treasury stock Accumulated other comprehensive loss Total Shareholders' Equity Total Liabilities and Shareholders' Equity February 1, 2020 $ 539 1,682 3,448 81 5,750 3,621 2,918 1,169 1,337 3 621 7,989 (1,241) (995) 6,377 $21,172 February 2, 2019 $ 43 1,655 3,366 168 5,232 4,708 1,238 1,580 3 652 8,050 (1,318) (951) 6,436 $19,194
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 56% (16 reviews)
Requirement 1 Macys debt to equity ratio for the year ended February 1 2020 was 232 calculated as 21...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The following is a portion of the balance sheets of Macy's, Inc. for the years ended January 30, 2016 and January 31, 2015: Macy's debt to equity ratio for the year ended January 30, 2016, was 3.84,...
-
The following is a portion of the balance sheets of Macys, Inc. for the years ended January 28, 2017 and January 30, 2016: Required: 1. What is Macys debt to equity ratio for the year ended January...
-
The following is a portion of the January 31, 2009 and 2008, balance sheets ofMacy's, Inc.: Macy's debt to equity ratio for the year ended January 31, 2009 was 3.8, calculated as $17,499 $4,646....
-
Cadmium is a highly toxic substance with lethal effects on the human body in concentrations greater than 4.4 x 10-mol/L. Cadmium (II) carbonate has a Kp of 5.2 x 10-12 at 25C. Calculate the...
-
Suppose that the Fed is able to target real GDP when there is instability in either commodity demand or the demand for money. Explain how the Fed must conduct open market operations, that is, either...
-
First make a substitution and then use integration by parts to evaluate the integral. arcsin(In x) dx
-
Contrast the purposes of (a) the preliminary review, (b) the preliminary review assessment, (c) completion of the review, and (d) the completion of review assessment.
-
Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111)....
-
1. Explain why these schools are generally recognized as Hamiltonian, Jeffersonian, Jacksonian, and Wilsonian. Some scholars also recognize Transcendentalists, who are intensely individualistic. 2....
-
Kevin is the owner of Flyties Pty Ltd. He has just built a large, state-of-the-art indoor skydiving arena. Kevin organises a competition where entrants compete to see who can complete the most...
-
Williams-Santana Inc. is a manufacturer of high-tech industrial parts that was started in 2010 by two talented engineers with little business training. In 2024, the company was acquired by one of its...
-
Fore Farms reported a pretax operating loss of $137 million for financial reporting purposes in 2024. Contributing to the loss were (a) a penalty of $5 million assessed by the Environmental...
-
The following graph shows the percent of U.S. homes with a smart television for the years 2013 and 2014. Percent of U.S. Homes with a Smart Television Draw a bar graph that shows the entire scale...
-
Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic...
-
Suppose you are committed to owning a $194,000 Ferrari. If you believe your mutual fund can achieve an annual rate of return of 11 percent and you want to buy the car in 8 years on the day you turn...
-
Shannon Company segments its income statement into North and South Divisions. The company's overall sales, contribution margin ratio, and net operating income are $1,050,000, 40%, and $21,000,...
-
Assume a merchandising company provides the following information from its master budget for the month of May: Sales Cash paid for merchandise purchases Selling and administrative expenses Accounts...
-
Micah and Lin Davos file a joint tax return. Each spouse contributed the maximum $6,500 to a traditional IRA. Required: In each of the following cases, compute the deduction for these contributions....
-
What reagents would be required to carry out the following transformations? ga, q- CH-CHCOCH;CH CH=CHCCH3 CH=CHO CH
-
Evaluate the integral, if it exists. Jo y(y + 1) dy
-
One of the longest debates in accounting history is the issue of deferred taxes. The controversy began in the 1940s and has continued, even after the FASB issued Statement of Financial Accounting...
-
One of the longest debates in accounting history is the issue of deferred taxes. The controversy began in the 1940s and has continued, even after the FASB issued Statement of Financial Accounting...
-
One of the longest debates in accounting history is the issue of deferred taxes. The controversy began in the 1940s and has continued, even after the FASB issued Statement of Financial Accounting...
-
Diaz Company issued $91,000 face value of bonds on January 1, Year 1. The bonds had a 9 percent stated rate of interest and a ten- year term. Interest is paid in cash annually, beginning December 31,...
-
Manvir had to make payments of $1,125 every 6 months to settle a $22,000 loan that he received at 4.52% compounded semi-annually. a. How long did it take to settle the loan?
-
If I invest a single amount of $14,000 in an account earning 8% p.a. compounding quarterly for 5 years, how much interest will I have earned in those 5 years?
Study smarter with the SolutionInn App