Kroger Company is one of the largest retail food companies in the United States as measured by total annual sales. The Kroger Company operates supermarkets, convenience stores, and manufactures and processes food that its supermarkets sell.
Using EDGAR secgov or the company's website krogercom check the companys annual report for the year ended February
Required:
From the income statement, determine the income tax expense for the fiscal year ended February Tie that number to the first table in disclosure Note : "Taxes Based on Income," and prepare a summary journal entry that records Krogers tax expense from continuing operations in the fiscal year ended February
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers in million ie should be entered as
a From Krogers Note calculate the total net deferred tax asset or liability as of February and February
b By how much did that amount change? To what extent did you account for that change in the journal entry you wrote for the first requirement of this case?
