Hillshire Brands owns the following brands: Ball Park franks, Sara Lee bakery goods, Hillshire Farm, Jimmy Dean,

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Hillshire Brands owns the following brands: Ball Park franks, Sara Lee bakery goods, Hillshire Farm, Jimmy Dean, Kiwi shoe care products, and many other products. The following information relates to the company's deferred taxes.
Hillshire Brands owns the following brands: Ball Park franks, Sara

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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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-1133957911

19th edition

Authors: Earl K. Stice, James D. Stice

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