Requirement 1. On which financial statement would you find Accounts? Receivable?

Accounts Receivable can be found on the

consolidated balance sheets

.

Requirement 2. What was the amount of Accounts Receivable as of January? 30,

20162016??

As of January? 31,

20152015??

?(Enter the amounts in millions as shown in the financial? statements.)

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	(millions)
	January 30,	January 31,
	2016	2015
Accounts receivable	$419	$429

Requirement 3. Review the notes to the financial statements and read the note labeled Allowance for Doubtful Accounts in Note

1dashSummary

of Significant Accounting Policies. What was the amount of Allowance for Doubtful Accounts as of January? 30,

20162016??

As of January? 31,

20152015??

?(Enter the amounts in millions as shown in the notes to the financial? statements.)

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	(millions)
	January 30,	January 31,
	2016	2015
Allowance for doubtful accounts	$34	$25

Requirement 4. Using the information from Requirements 2 and? 3, determine the gross amount of Accounts Receivable as of January? 30,

20162016.

As of January? 31,

20152015.

?(Enter the amounts in? millions.)

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	(millions)
	January 30,	January 31,
	2016	2015
Gross accounts receivable	$453	$454

Requirement 5. Find Schedule

IIlong dashValuation

and Qualifying Accounts included in the notes to the financial statements. Prepare a? T-account that details the changes in the Allowance for Doubtful Accounts account for

20152015.

What would additions charged to costs and expenses? represent? What would deductions from the account? represent?

Start by completing the? T-account below to show the change in

SearsSears

Holding? Corporation's Allowance for Doubtful Accounts account for the year ending January? 30,

20162016.

Enter the opening balance on the first line and use the second line to show any additions to or subtractions from the Allowance for Doubtful Accounts account during the year. Show the ending balance on the last line of the? T-account. Use descriptions as posting references for each amount entered. ?(Enter amounts in millions as provided in the? information.)

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Allowance for Doubtful Accounts

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