Refer to The Home Depot, Inc., 2012 Annual Report (for the fiscal year ended February 3, 2013) in Appendix A.
Under the paragraph Revenues, from Notes to Consolidated Financial Statements, read how the company treats gift card revenues.
1. Identify where the liability for unredeemed gift cards is reported on the financial statements.
2. What was the account balance at FY 2012 year-end, and how does that compare with year-end for FY 2011?