Item 1Item 1 The usefulness of budgets, variances, and related analyses often depends on the...
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Accounting
Item 1Item 1 The usefulness of budgets, variances, and related analyses often depends on the accuracy of managements estimates of future sales activity. Required 1. Identify and enter the 2016 and 2017 sales (in dollars) into a table for Apple and Google using their financial statements in Appendix A. 2. Assume that at the end of 2016 we feel Apples 2017 sales will increase by 5% from its 2016 sales. What is Apples 2017 estimated sales? 3. Assume that at the end of 2016 we feel Googles 2017 sales will increase by 20% from its 2016 sales. What is Googles 2017 estimated sales? 4. Using answers to parts 2 and 3, which companys estimated 2017 sales is closer to its actual 2017 sales?
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