Accounting HW Ch19 Financial Reporting Problem

Accounting HW Ch19 Financial Reporting Problem - 2002(31.8...

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Financial Reporting Problem (a) Provision for income taxes $2,869 million In current assets: Deferred income taxes $958 million In current liabilities: Taxes payable $2,554 million In noncurrent liabilities: Deferred income taxes $2,261 million In cash flows provided by operating activities: Deferred income taxes $415 million In supplemental disclosure: Cash payments for income taxes $1,634 million
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Unformatted text preview: 2002: (31.8%), 2003: (31.1%), 2004: (30.7%) (c) Provision for income taxes: Current $2,454 Deferred 415 Total $2,869 (d)P&G’s deferred tax assets and liabilities at June 30, 2004 were: Deferred Tax Assets Unrealized loss on financial instruments $ 381 Loss and other carryforwards 365 Advance payments 226 Other postretirement benefits 95 Other 1,169 Valuation allowances (342) Total $1,894 Deferred Tax Liabilities Fixed assets $(1,350) Goodwill and other intangible assets (1,281) Other (352) Total $(2,983)...
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This note was uploaded on 04/26/2010 for the course ACC 639 taught by Professor Mccarthy during the Spring '10 term at St. Johns Duplicate.

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