Question: Analysis Case 39 Balance sheet information LO32 through LO34 Real World Financials Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements

Analysis Case 39

Balance sheet information

LO32 through

LO34

Real World Financials

Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure notes for the year ended February 1, 2020, are available in the Connect library. This material also is available under the Investor Relations link at the companys website (www.target.com).

Required:

Does the company separately report current assets and long-term assets, as well as current liabilities and long-term liabilities?

Are any investments shown as a current asset? Why?

In which liability account would the company report the balance of its gift card liability?

What method does the company use to depreciate its property and equipment?

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