Balance Sheet Information

Target Corporation prepares its financial statements according to U.S. GAAP. Target’s 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 company’s website (www.target.com).

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

2. Are any investments shown as a current asset? Why?

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

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

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