Accounting Excel sheet

Target

For Target, do the following:
Obtain the fiscal 2021 annual report at:			https://corporate.target.com/annual-reports/2021/download/pdf?parts=part6
I. FINANCIAL STATEMENT REVIEW
	Enter the answers to the following from the Financial Statements (Item 8 of the Annual Report) in the blue box provided. Answers may be found on face of the financial statements or on Footnotes
-	How many retail locations did Target have on average?		1,912
-	How much was Sales?
-	How much was Sales per retail location
-	What % of Sales was from International?		None
-	How many segments does the company have?			( Note 1 - Summary of Accounting Policies)
-	Per Note 3 "Dermstore Sale", Target experienced a gain of $355 million for selling that subsidiary. In what line item of the "Consolidated Statements of Operations" is that gain found?
-	How does the Company recognize online revenue ? (Note 4 - Revenues)
-	What is the policy to return goods to Target? (Note 4 - Revenues)
	How much is the liability for expected returns at year end?
	Target had Sales of $30.6 billion in the fourth fiscal quarter of 2021. What was the expected returns balance as a percentage of fourth-quarter sales?
II. INVENTORY REVIEW
-	What is the Inventory balance at year-end?
-	Calculate Gross Profit Margin (%)
		Formula	Amounts	Answer
		E.g. A - B = C	100 - 70	3000%
-	Calculate Inventory Turnover
		Formula	Amounts	Answer
		E.g. A - B = C	100 - 70	30.0
-	What inventory costing method does the Company use - FIFO, LIFO, etc.? (Note 10 - Inventory)
-	Describe rebate arrangement with the Company's suppliers? (Note 6 - Consideration Received from Vendors)
		Please paraphrase
-	Describe consignments arrangements with the Company's suppliers? (Note 4 - Revenues)
		Refer to the following definition of consignment: Consignment inventory consists of items that other companies still own but that the retailer is willing to sell (for a fee). Consignment inventory is reported on the balance sheet of the owner, not the company holding the inventory.
-	Anything else interesting reported about inventory or sales from reviewing the Financial Statements?
III. MANAGEMENT'S DISCUSSION AND REVIEW (MD&A) ANALYSIS
	Enter the answers to the following from the MD&A (Item 7 of the Annual Report) in the blue box provided.
-	Under the Analysis of Results of Operations --> Sales section, what is included in the "comparable sales" calculation?
-	Under the Results of Operations --> Consolidated Results of Operations section, how did they explain the decrease in the gross margin percentage of .1%.

https://corporate.target.com/annual-reports/2021/download/pdf?parts=part6

Professor to Review in Class

Professor to Review in Class

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