Deere & Company
LIFO Net Income
LIFO Net Income after tax
Adjustment to tax deferred liability
Deere & Company and CNH Global N.V. Inventory
Holding Inventory avoids loss of sales: In case a firm maintains adequate inventory, it can
execute the customers orders without any delay and thus avoid any possibility of losing the
a) What does return on equity measure? Why is it important to consider ROE and not just income
in dollar terms?
Return on equity (ROE) is the amount of net income returned as a percentage of shareholders
equity. Return on equity measures a corporation's p
f. Consider the information disclosed in Note 8 Income Taxes to answer the following questions:
i. Using information in the first table of note 8 show the journal entry Zagg recorded for the income tax
provision in the year 2012.
An income tax provision i
f) When does the company recognize revenue for the following types of sales?
i) iTunes songs sold online.
For certain sales made through the iTunes store, Apple is not the primary owner to users of the software
and third-party developers determine the sel
a. Secured debt is protected by assets given up as collateral by the borrower to protect the
lender in the event of default. Unsecured debt is not protected by any such collateral
and is generally more risky. Secured debt restricts the use of assets. Ther
Apple Inc. Revenue Recognition
a) In your own words, define revenues. Explain how revenues are different from gains.
Revenue is the income that a company receives by producing/ selling goods, performing services, or any
other business activiti
a) What do you think of the situation at Blackheath.
Lee High based the unit cost computation on an assumption of 500 unit per week sales and split
the cost of producing the units into average variable and fixed cost to get the unit cost but used