Question
Target adopted the new leasing standard for the year ended February 2, 2019, using the modified retrospective approach outlined in ASC Topic 842. All questions
Target adopted the new leasing standard for the year ended February 2, 2019, using the modified retrospective approach outlined in ASC Topic 842. All questions relate to the year ended February 2, 2019 (fiscal 2018) unless stated otherwise. The supplemental information for the fiscal 2018 statement of cash flows reports that $130 of leased assets were obtained in exchange for new finance lease liabilities, and $246 of leased assets were obtained in exchange for new operating lease liabilities.
Show how the fiscal 2018 income statement would change if the operating leases were treated as finance leases.
Show how the fiscal 2018 statement of cash flows would change if the operating leases were treated as finance leases.
Show how the fiscal 2018 balance sheet would change if the operating leases were treated as finance leases.
Farget adopted the new leasing randurd for the year ended February 2.2019, using the modifed retrospective approsch outined in AsC Topic 842. All questions rebse to the year ended February 2 , 2019 ffacal 201 st undess 9ased otherwise. The sipplemencal information for the facal 2018 yasement of cash fows reports thar 3130 of leased assect were obeained in eachange for new france lease labilites and 1245 of leased assets were obcinted in eachange for new operacing lease lablities Presented below is inflormucion from Target Corporation's Form tok. Nose 18. for the year ended February 2.2019. Farget adopted the new leasing randurd for the year ended February 2.2019, using the modifed retrospective approsch outined in AsC Topic 842. All questions rebse to the year ended February 2 , 2019 ffacal 201 st undess 9ased otherwise. The sipplemencal information for the facal 2018 yasement of cash fows reports thar 3130 of leased assect were obeained in eachange for new france lease labilites and 1245 of leased assets were obcinted in eachange for new operacing lease lablities Presented below is inflormucion from Target Corporation's Form tok. Nose 18. for the year ended February 2.2019
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