Target Corporation , a major U.S. retailer, reported the following amounts in th

Question

Target Corporation, a major U.S. retailer, reported the following amounts in the asset section of its balance sheets for the years ended January 31, 2009, and February 2, 2008:

31-Jan-09

2-Feb-08

Property and equipment, net

$25,756

$24,095

In addition, the statement of cash flows for the year ended January 31, 2009, included the following items ($ in millions):

Depreciation

$1,814

Additions to property and equipment

3,547

Proceeds from the sale of property and equipment

39

What was the gain or loss Target recognized in the year ended January 31, 2009, from the sale of property and equipment?

31-Jan-09

2-Feb-08

Property and equipment, net

$25,756

$24,095

Explanation / Answer

24095+3547-1814-39-25756 = Loss of 33 to be recognised. Happy to help

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