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Target corporation prepares its financial statements according to US GAAP. Targets financial statement and disclosure...

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Accounting

Target corporation prepares its financial statements according to US GAAP. Targets financial statement and disclosure notes for the year end January 302016 are available in Connect. This material is also available under investor relations link at the companys website.
1 Compare the property and equipment in the balance sheet with the list in Note 14. What are the estimated useful lives for recording depreciation? Why
Is land not listed?
2 Which depreciation method does Target use for property and equipment for financial reporting? Which depreciation method is used for tax purposes? Why might these methods be chosen?
3 How does Target record repairs and maintence expenses?
4 How does Target account for impairment of property and Equipment? Were any impairments recorded for the year end January 302016? If So what was the amount and what were the reasons for the impairments?
5 From Notes 15 & 16 what was the amount of intangible assets for the year end January 30,2016? If so what was If So what was the amount and what were the reasons for the impairments?

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