Question
Kroger Co. is one of the largest retail food companies in the United States as measured by total annual sales. The Kroger Co. operates supermarkets,
Kroger Co. is one of the largest retail food companies in the United States as measured by total annual sales. The Kroger Co. operates supermarkets, convenience stores, and manufactures and processes food that its supermarkets sell. Using EDGAR (sec.gov) or the company's website (kroger.com), check the companys annual report for the year ended January 28, 2017.
Required: 1. From the income statement, determine the income tax expense for the most recent year. Tie that number to the first table in disclosure Note 5: "Taxes Based on Income," and prepare a summary journal entry that records Krogers tax expense from continuing operations in the most recent year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 5,000,000 should be entered as 5).)
2a. In 2016 companies could classify their deferred tax assets and liabilities as current or noncurrent. From Krogers Note 5, calculate the total (current + noncurrent) net deferred tax asset or liability as of January 28, 2017, and January 30, 2016.
i posted this question 3 times already but haven't gotten the correct answer. :( Please help. i can't get it.
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