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Focusing on the third table in Note 23, Net Deferred Tax Asset/(Liability), calculate the change in net deferred tax asset/liability. To what extent did you

Focusing on the third table in Note 23, “Net Deferred Tax Asset/(Liability),” calculate the change in net deferred tax asset/liability. To what extent did you account for this change in the journal entry you prepared in the question above? What are some possible causes for any difference?









Net Deferred Tax Asset/(Liability)
(millions)
February 3,
2018

January 28,
2017

Gross deferred tax assets:


Accrued and deferred compensation
$
262

$
455

Accruals and reserves not currently deductible
256

328

Self-insured benefits
109

178

Prepaid store-in-store lease income
164

258

Other
42

62

Total gross deferred tax assets
833

1,281

Gross deferred tax liabilities:


Property and equipment
(1,292
)
(1,822
)
Inventory
(130
)
(182
)
Other
(91
)
(102
)
Total gross deferred tax liabilities
(1,513
)
(2,106
)
Total net deferred tax liability
$
(680
)
$
(825
)

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