Research Case 14-6 (Static) FASB codification research; researching the way long-term debt is reported; Macy's, Inc. [LO14-1, LO14-2, LO14-3, LO14-4] EDGAR, the Electronic Data Gathering. Analysls, and Retrieval system. performs automated collection, validation, Indexing, acceptance and forwarding of submissions by companies and others who are required by low to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies do so voluntarily) Form 10-K, including the annual report, is required to be fled on EDGAR. The SEC makes this information avallable on the Internet Required: 1. Access EDGAR on the internet at www.sec. gov or from Investor Relations at the Macy's, Inc. (Www.macys com). Search for Macy's. Access its 10K filing for the year ended January 30,2017 . Search or scroll to find the financial statements and related notes. What is the total debt (including current liabilities and deferred taxes) reported in the balance sheet in the most recent two years? 2. Compare the total liabilities (including current liabaities and deferred taxes) with the shareholders' equity and calculate the debt to equity rato for the most recent two years. 3. Does Macy's obtain more financing through notes, bonds, or commercial paper? Are required debt payments increasing or decreasing over the next three years? 4. Does Mocy's classify any shontterm debt as long-term? 5. Note 6: Financing includes the following statement: "On November 18, 2014, the Company issued $550 millon aggregate principal amount of 4.5% senior notes due 2034. This debt was used to pay for the redemption of the $407million of 7.875% senior notes due 2015 described above." Under some clrcumstances. Macy's could have reported the amounts due in 2015 as long term debt at the end of the previous year even though these amounts were due within the coming yeat. Obtain the relevant authoritative literature on classification of debt expected to be financed using the FASB Accounting Standards Codification. You might gain access from the FASB website (www fasb ora) from your school library, or some other source. Determine the criteria for reporting currently payable debt as longterm. What is the specific nine-digt Codification citation () that Macy's would rely on in applying that accounting treatment? Complete this question by entering your answers in the tabs below. What is Pbegired 1 be (including current labicties and deferred tavs) reported in the batance sheet in the most recent two Research Case 14-6 (Static) FASB codification research; researching the way long-term debt is reported; Macy's, Inc. [LO14-1, LO14-2, LO14-3, LO14-4] EDGAR, the Electronic Data Gothering. Analysis, and Retrieval system, performs automated collection, validation, indexing, acceptance and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies do so voluntarily) Form 10-K, including the annual report, is required to be filed on EDGAR. The SEC makes this information available on the internet. Required: 1. Access EDGAR on the Internet at www. sec gov or from Investor Relations at the Macy's, Inc. (uww. macys. com). Search for Macy's. Access it 10-K filing for the year ended January 30,2017 . Search or scroll to find the financial statements and related notes. What is the total debt (including current ilabilities and deferred taxes) reported in the balance sheet in the most recent two years? 2. Compare the total llablities (lincluding current liabilities and deferred taxes) with the shareholders' equity and calculate the debt to equity ratio for the most recent two years. 3. Does Macy's obtain more financing through notes, bonds, or commerclal paper? Are required debt payments increasing or decreasing over the next three years? 4. Does Macy's classily any short-term debt as long-term? 5. Note 6: Financing includes the following statement "On November 18, 2014, the Company issued $550 million aggregate principal amount of 45% senior notes due 2034 . This debt was used to pay for the redemption of the $407million of 7.875% senior notes due 2015 described above. Under some circumstances, Macy's could have reported the amounts due in 2015 as long-term debt at the end of the previous year even though these amounts were due within the coming year. Obtain the relevant authoritative literature on classificotion of debt expected to be financed using the FASB Accounting Standards Codification You might gain access from the FASB website (uww fasb org), from your school library, or some other source. Determine the criterla for reporting currently payable debt as long-term. What is the specific nine-digit Codification citation () that Macy's would rely on in applying that accounting treatment? Complete this question by entering your answers in the tabs below. Compare the total labiities (including current liabilities and deferred tares) with the shareholders' equily and calculate the cebt to equity ratio for the most recent two years. (Round your answers to 2 decmal places.) EDGAR, the Electronic Data Gathering. Analysis, and Retrieval system, performs automated collection, validation, indexing, acceptance and forwarding of submissions by companies and others who are required by law to flle forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies do so voluntarly.) Form 10-K, including the annual report, is required, to be filed on EDGAR. The SEC makes this information available on the internet. Required: 1. Access EDGAR on the Internet at wmw.sec.gov or from Investor Relations at the Macy's, Inc. (www.macys. com). Search for Macy's. Access its 10-K filing for the year ended January 30,2017. Search or scroll to find the financial statements and related notes. What is the total debt (including current liablities and deferred taxes) reported in the balance sheet in the most recent two years? 2. Compore the total llabilities (including current liabilities and deferred taxes) with the shareholders' equity and calculate the debt to equity ratio for the most recent two years. 3. Does Macy's obtain more financing through notes, bonds, or commercial paper? Are required debt payments increasing or decreasing over the next three years? 4. Does Macy's classily any short-term debt as long-term? 5. Note 6: Financing includes the following statement: "On November 18, 2014, the Company issued $550 million aggregate principal amount of 4.5% senior notes due 2034 . This debt was used to pay for the redemption of the $407million of 7.875% senior notes due 2015 described above." Under some circumstances, Macy's could have reported the amounts due in 2015 as long-term debt at the end of the previous year even though these amounts were due within the coming year, Obtain the relevant authoritative literature on clossification of debt expected to be financed using the FASB Accounting Standards Codification. You might gain access from the FASB website (umwi fasb org). from your school library, or some other source. Determine the criteria for reporting currently payable debt as long-term. What is the specific nine-digit Codification citation (XXXXXXX ) that Macy's would rely on in applying that accounting treatment? Complete this question by entering your answers in the tabs below. Does Macys obtain more financing through notes, bonds, or commeroal paper? Are required debt payments increasing or decreasing over the next three years? EDGAR, the Electronic Data Gathering. Analysis, and Retrieval system, performs automated collection, validation, Indexing, acceptance and forwarding of submissions by companies and others who are required by law to flle forms with the U.S. Securities and Exchange Commission (SEC). Al publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies do so voluntarily) Form 10K, including the annual report, is required to be filed on EDGAR. The SEC makes this information avallable on the internet. Required: 1. Access EDGAR on the internet at www.sec gov or from investor Relations at the Macy's, Inc. (www macys.com). Search for Macy's. Access its 10-K filing for the year ended January 30,2017 . Search or scroll to find the financial statements and related notes, What is the total debt (including current liablities and deferred taxes) reported in the balance sheet in the most recent two years? 2. Compare the total llablilies (including current liabilites and deferred taxes) with the shareholders' equily and calculate the debt to equity ratio for the most recent two years. 3. Does Macy's obtain more financing through notes, bonds, or commercial paper? Are required debt payments incresing or decreasing over the next three years? 4. Does Macy's classity any short-term debt as longterm? 5. Note 6: Financing includes the following statement "On November 18, 2014, the Company issued $550 million aggregate principal amount of 4.5\% senior notes due 2034. This debt was used to pay for the redemption of the $407mlllion of 7.875% senior notes due 2015 described above. Under some circumstances, Macy's could have reported the amounts due in 2015 as long-term debt at the end of the previous year even though these amounts were due within the coming year. Obtoin the relevant authoritative sterature on clossification of debt expected to be financed using the FASA Accounting Standards Codifcation You might gain access from the FASB website (www fasb org), from your school library, or some other source. Determine the criteria for feporting currently payable debt as longterm. What is the specific nine-digt Codification citation (xxxxxx) that Macy's would rely on in applying that. accounting treatment? Complete this question by entering your answers in the thas below. Does Macy's classity any short term debt as long-term? EDGAR, the Electronic Data Gathering. Analysis, and Retrieval system, performs automated coliection, validation, indexing, acceptance and forwarding of submissions by companies and others who are required by low to file forms with the U.S. Securities and Exchange Commission (SEC. All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies do so voluntarily) Form 10-K, including the annual report, is requlred to be filed on EDGAR. The SEC makes this information avaliable on the internet. Required: 1. Access EDGAR on the Internet at wwwsec gov or from Investor Relations at the Macy's. Inc. (wmwmocys com). Search for Macy's. Access its 10K fliling for the year ended January 30, 2017. Search of scroll to find the financial statements and related notes. What is the total debt (including current liabilities and deferred taxes) reported in the balance sheet in the most recent fwo years? 2. Compare the total Eablities (including current liabilities and deferred takes) with the shareholders' equity and calculate the debt to equity ratio for the most recent two years. 3. Does Macy's obtain more financing through notes, bonds, or commercial paper? Are required debt payments increasing or decreasing over the next three years? 4. Does Mocy's classify any short-term debt as long-term? 5. Note 6: Financing includes the following statement: "On November 18, 2014, the Company issued $550 million aggregate principal amount of 4.5% senior notes due 2034. This debt was used to pay for the redemption of the $407million of 7.875% sensior notes due 2015 described obove." Under some circumstances, Macy's could have reported the amounts due in 2015 as long-term debt at the end of the previous year even though these amounts were due within the coming year, Obtain the relevant authoritative literature on classification of debt expected to be financed using the FASB Accounting Standards Codification You might gain access from the FASB website (mwwiasb ora), from your school library, or some other source. Determine the criteria for reporting currently poyable debt as long-term. What is the specific nine-digit Codification citation (xxx) that Mocy's would rely on in applying that accounting treatment? Complete this question by entering your answers in the tabs below. Determine the criteria for reporting currently payable debt as long-term. What is the specific nine-digit Codification citation (xooc-ox--00--ox) that Macy's would rely on in applying that accounting treatment