Accounting Excel sheet

obtain the fiscal 2021 Annual Report for the  company Target and answer the questions in the blue cells in the excel template attached below. (Attached below)

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.

Answer

s 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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