Question: Sara Lee Corporation owns the following brands Ball Park franks Sara

Sara Lee Corporation owns the following brands: Ball Park franks, Sara Lee bakery goods, Kiwi shoe care products, Hanes and Hanes Her Way, L’eggs, and about a hundred other products. Information relating to the company’s deferred taxes is shown below.


Based on this information, answer the following questions:
1. Provide the journal entry (ies) made by Sara Lee to record the 2004 income tax expense of $270 million. Remember to allocate the expense between current and deferred.
2. Provide the journal entry made by Sara Lee to record the payment of income taxes during theyear.
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  • CreatedApril 08, 2012
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