(Solution) - The financial statements of Procter Gamble P G can be 116509 -(2025 Original AI-Free Solution)

Paper Details

The financial statements of Procter & Gamble (P&G) can be accessed at the book?s website.
Instructions
Refer to P&G?s financial statements and the accompanying notes to answer the following questions.
(a) What amounts relative to income taxes does P&G report in its:
(1) 2006 income statement?
(2) June 30, 2006, balance sheet?
(3) 2006 statement of cash flows?
(b) P&G?s provision for income taxes in 2004, 2005, and 2006 was computed at what effective tax rates? (See the notes to the financial statements.)
(c) How much of P&G?s 2006 total provision for income taxes was current tax expense, and how much was deferred tax expense?
(d) What did P&G report as the significant components (the details) of its June 30, 2006, deferred tax assets and liabilities?