Alcoa had sales of $24,951 million in 2011 and generated income from continuing operations before income taxes
Question:
The provision (benefit) for income taxes on income (loss) from continuing operations consisted of the following:
1. Provide the journal entries to record income tax expense for 2011.
2. Compute income (loss) from continuing operations for 2011.
Transcribed Image Text:
2011 2010 ($ in millions) Current Federal Foreign State and local $ 10 427 $ 33 409 7) 435 436 Deferred Federal Foreign State and local 37 (211) (320) 2(4) (181) (287) $255 $148 28 Net tax expense
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Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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