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target corporation prepares its financial statements according to U.S. G.A.A.P. targets financial statements and disclosure notes for the year ended 30,. 2016, are available in Connect. this material also is available under the Investor Relations Link at the company's website (www.target.com) require:

1- On what line of target's income statement is revenue reported? what was the amount of revenue target reported for the fiscal year ended january 30, 2016?

2- Disclosure note 2 indicates that target generally records revenue in retail stores at the point of sale. does that sugesst that target generally records revenue at a point in time? explain

3- Disclosure note 2 indicate that customers (guests) can return some merchandise within 90 days of purchase and can return other merchandise within a year of purchase. how is target revenue and net income affected by returns, given that it does not know at the time a sale is made which irems will be returned?

4- Disclosure note 2 indicates that "commissions eraned on sales generated by leased departments are included within sales and were $ 37 million... in 2015." do you think it likely that target is accounting for those sales as a principal or an agent? explain.

5- Disclosure note 2 discusses target's accounting for gift cards sales. does target recognize revenue when it sells a gift card to a customer? if not, when does it recognize revenue? explain.

6- Disclosure note 4 discussed how target accounts for consideration received from vendors, which they call "vendor income". does that considreation produce for target? does that considration produce revenue for "target's vendors? explain.

these are question from intermediate accounting 9th edition "Target Corporation" case

from chapter 5 problem 1 TC. would you please solve these questions?

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