Required Information Analysis Case 16-9 (Static) Reporting deferred taxes; Kroger Co. [L016-2, 16-3, 16-4, 16-7, 16-8] [The following information applies to the questions displayed below.) 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 company's annual report for the year ended January 28, 2017 Analysis Case 16-9 Part 1 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 Kroger's 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 (l.e., 5,000,000 should be entered as 5).) View transaction list Journal entry worksheet Record the summary journal entry for tax expense associated with income from continuing operations. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required Information Analysis Case 16-9 (Static) Reporting deferred taxes; Kroger Co. [LO16-2, 16-3, 16-4, 16-7, 16-8] [The following information applies to the questions displayed below.) 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 company's annual report for the year ended January 28, 2017 Analysis Case 16-9 Part 2a 2a. In 2016 companies could classify their deferred tax assets and liabilities as current or noncurrent. From Kroger's Note 5, calculate the total (current + noncurrent) net deferred tax asset or liability as of January 28, 2017, and January 30, 2016. 2016 2015 Total Required Information Analysis Case 16-9 (Static) Reporting deferred taxes; Kroger Co. [L016-2, 16-3, 16-4, 16-7, 16-8] [The following information applies to the questions displayed below.) 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 company's annual report for the year ended January 28, 2017 Analysis Case 16-9 Part 1 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 Kroger's 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 (l.e., 5,000,000 should be entered as 5).) View transaction list Journal entry worksheet Record the summary journal entry for tax expense associated with income from continuing operations. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required Information Analysis Case 16-9 (Static) Reporting deferred taxes; Kroger Co. [LO16-2, 16-3, 16-4, 16-7, 16-8] [The following information applies to the questions displayed below.) 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 company's annual report for the year ended January 28, 2017 Analysis Case 16-9 Part 2a 2a. In 2016 companies could classify their deferred tax assets and liabilities as current or noncurrent. From Kroger's Note 5, calculate the total (current + noncurrent) net deferred tax asset or liability as of January 28, 2017, and January 30, 2016. 2016 2015 Total
