Identifying and classifying balance sheet and income


Question: Identifying and Classifying Balance Sheet and Income Statement Accounts. Following are selected accounts for Target Corporation, for the ?scal year ended February 2, 2013.

a. Indicate whether each account appears on the balance sheet (B) or income statement (I).

b. Using the following data, compute total assets and total expenses.

c. Compute net pro?t margin (net income/sales) and total liabilities-to-equity ratio (total liabilities/ stockholders' equity)

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Accounting Basics: Identifying and classifying balance sheet and income
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