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! Required information [The following information applies to the questions displayed below.] Campbell Soup Company is a manufacturer and marketer of branded food and

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! Required information [The following information applies to the questions displayed below.] Campbell Soup Company is a manufacturer and marketer of branded food and beverages including familiar products such as Campbell's soups, Swanson broths, Prego pasta sauce, V8 juices, and Pepperidge Farm baked goods. The following information is from a recent annual report (in millions of dollars): Accrued Income Taxes Payable Debit Credit (a) ? 24 15 Beginning balance 174 (b) Ending balance Accrued Compensation and Benefits Payable Debit Credit 234 Beginning balance (c) ? 429 (d) 252 Ending balance Accrued Interest Payable Debit Credit (e) 363 97 ? 79 Beginning balance (f) Ending balance Required: 1. Identify the nature of each of the transactions (a) through (f). Specifically, what activities cause the accounts to increase and decrease? (a) (b) (c) (d) (e) (f)

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