Hillshire Brands owns the following brands: Ball Park franks, Sara Lee bakery goods, Hillshire Farm, Jimmy Dean,
Question:
Cash payments for income taxes from continuing operations were $291 in 2011, $305 in 2010, and $218 in 2009.
Based on this information, answer the following questions:
1. Provide the journal entryies made by Hillshire Brands to record the 2011 income tax expense (net) of $149 million. Remember to allocate the expense and benefit between current and deferred.
2. Provide the journal entry made by Hillshire Brands to record the payment of income taxes during the year 2011.
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