The Target Corporation income statement, balance sheet, and statement of cash flows in Appendix A provide details
Question:
The Target Corporation income statement, balance sheet, and statement of cash flows in Appendix A provide details about the company's long-term debt. Use those data to answer the following questions. Required 1. How much did Target owe on long-term debt at January 29, 2000? How much was payable in the coming year? 2. Examine the statement of cash flows for 1999. Journalize the two transactions that affected long-term debt during the year. Ignore the notes payable transaction. 3. Journalize in a single entry Target's interest expense for 1999. Target paid cash of $405 million for interest, including $12 million capitalized to the Building account.
Step by Step Answer:
Accounting
ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones