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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Research and Analysis Using the Annual Report

Obtain John Deere’s 2016 annual report either through the “Investor Relations” portion of their website (do a web search for John Deere investor relations) or go to www.sec.gov and click “Company Filings Search” under “Filings."

What amount did the company pay for interest during the most current year? For taxes during the most current year? ( Hint: You may need to refer to the notes to the financial statements.)

To determine

Introduction:

Company incur various expenses, whether direct or indirect, to operate a business. The direct expenses include labor, raw material etc. whereas indirect expenses include interest expense, depreciation expense etc. In absence of either, it becomes difficult for a business to run its operations.

Interest and Income tax expense for the year 2016.

Explanation

Interest expense is paid to lender periodically. Any company can raise finances either by issue of shares or by borrowing money. The lender charges a specific interest rate for the borrowed amount. The borrower has an obligation to pay off the amount within specified time period along with the interest (which is generally paid periodically, unless stated).

As per the date of J.D...

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