Question

In: Accounting

Background Info: (Gap Inc owns Gap, Banana Republic, Old Navy, Intermix, Hill City, and Athleta. Gap...

Background Info:

(Gap Inc owns Gap, Banana Republic, Old Navy, Intermix, Hill City, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is 3rd in total international locations.)

  1. What percentage of Gap’s total assets are current assets? ___53%_____
  2. What percentage of Gap’s total assets are noncurrent assets? __47%_____

Question:

  1. Does the percentages of Gap's current assets and non-current assets make sense when you consider Gap’s line of business? Why?

Solutions

Expert Solution

Summary

Definition of the current asset and non current asset.the percentage make sense.

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

In your own words give the info on Old Navy PESTAL analysis of old navy store...
In your own words give the info on Old Navy PESTAL analysis of old navy store brief competitive overview detailed 4P's
Background Info: What is the percentage of debt used to finance Gap? ___56%_____ What is the...
Background Info: What is the percentage of debt used to finance Gap? ___56%_____ What is the percentage of owner’s equity used to finance Gap? _44%_____ Question: What is the significance of these two percentages?
From chapter 11- Revisit the world of business: Despite the differences in Gap-owned Banana Republic stores...
From chapter 11- Revisit the world of business: Despite the differences in Gap-owned Banana Republic stores today, what are similarities the modern retailer shares with its initial stores?
Sage Hill Golf Inc. was formed on July 1, 2019, when Matt Magilke purchased the Old...
Sage Hill Golf Inc. was formed on July 1, 2019, when Matt Magilke purchased the Old Master Golf Company. Old Master provides video golf instruction at kiosks in shopping malls. Magilke plans to integrate the instructional business into his golf equipment and accessory stores. Magilke paid $790,000 cash for Old Master. At the time, Old Master’s balance sheet reported assets of $640,000 and liabilities of $220,000 (thus owners’ equity was $420,000). The fair value of Old Master’s assets is estimated...
Sage Hill Golf Inc. was formed on July 1, 2016, when Matt Magilke purchased the Old...
Sage Hill Golf Inc. was formed on July 1, 2016, when Matt Magilke purchased the Old Master Golf Company. Old Master provides video golf instruction at kiosks in shopping malls. Magilke plans to integrate the instructional business into his golf equipment and accessory stores. Magilke paid $770,000 cash for Old Master. At the time, Old Master’s balance sheet reported assets of $670,000 and liabilities of $190,000 (thus owners’ equity was $480,000). The fair value of Old Master’s assets is estimated...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT