In its 2009 balance sheet walmart reported as a noncurrent


The income tax disclosure note accompanying the January 31, 2009, financial statements of Walmart Stores is reproduced below:

Required:

1. In its 2009 balance sheet, Walmart reported as a noncurrent liability, "Deferred income taxes" of $3,076 million. Why is this different from the $1,605 million "net deferred tax liability" reported in the disclosure note?

2. Re-create the journal entry that summarizes the entries Walmart used to record its 2009 income taxes.

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Accounting Basics: In its 2009 balance sheet walmart reported as a noncurrent
Reference No:- TGS01350533

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