Libby_7e_MBA_Companion_Solutions

Whole foods will and does report on its 2009 balance

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Unformatted text preview: d does) report on its 2009 balance sheet a current deferred tax asset of $87,757 thousand ($100,000 - $12,243) and a noncurrent deferred 41 tax asset of $91,000 thousand ($119,136 - $28,136). 55 Page 11 of 21 service and / or comp ensation. The Comp any ad opted new accounting guid ance on retirem ent benefits that requ ires measurement of p lan fu nd ed statu s as of the end of the fiscal year. Previou sly, the measu rement d ate for the plans w as June 30. Upon END-OF-CHAPTER MATERIAL ad op tion, the Company rem easu red p lan assets and benefit obligations at the end of fiscal 2008 w hich resulted in a red u ction of $35 m illion to retained earnings and a $100 million benefit to accum u lated other comp rehensive income at the beginning of fiscal 2009. Net p eriod ic benefit cost for fiscal 2009 w as based on this remeasu rement of p lan assets and benefit obligations. The amounts in the tables below for fiscal 2009 reflect an October 3, 2009 measu rem ent d ate S hereas lassifying and fiscal 2008 reflect the Ju ne 30, 2008 m easuobligations w P-5 C the amou nts for reporting defined benefit pension rem ent d ate. LO 6 Below is Disney C...
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This homework help was uploaded on 03/27/2014 for the course ACCOUNTING 151 taught by Professor Chinn during the Spring '12 term at Lehigh University .

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