Financial Statements: Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements. Requirement 1: The values of sales for company A and company B for 2017 and 2016.

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Answer 1

Question

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

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Suppose a firm has had the following historic sales figures. What would be the forecast for next year's sales using the average approach? You must use the built-in Excel function to answer this question. Input area: Year Sales 2016 2017 2018 es es e $ 1,500,000 $ 1,750,000 $ 1,400,000 2019 $ 2,000,000 2020 $ 1,600,000 Output area: Next year's sales

As a consultant you have been asked to generate a unit demand forecast for a product for year 2017 using exponential smoothing. The actual demand in year 2016 was 750. The forecast demand in year 2016 was 960. Using this data and a smoothing constant alpha of 0.3, which of the following is the resulting year 2017 forecast value? A) 1,023 B) 1,120 C) 897 D) 813 E) 766

Using the Microsoft 10K for the Fiscal Year ended June 30, 2018 to answer questions: 1. Interpret the results of 2018 "above the line" compared to 2017 "above the line" and then 2017 "below the line" and 2017 "below the line". 2. What is the revenue and cost streams of MSFT using the 10K. How are the costs allocated between the product and service streams? 3. What are the revenue recognition policy of MSFT?4. What are some examples of the revenue recognition for each area as mentioned in the report?5. What is the EBIT and EBITDA for MSFT for 2018 and 2017? How did you calculate this? 6. Using the MSFT financial statements, what is the variance for the balances listed below). The answer must include: % change from 2017 to 2018$ change from 2017 to 2018please state whether it is a favorable or unfavorable variance from 2017 to 2018 Cost of services Selling, general, administration and other Gross Profit of services Gross Profit of products 7. In the financial statement, what is the…

Answer 2

Question

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Answer 6

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

Answer 7

Chapter 8, Problem 2AA

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 1:

The values of sales for company A and company B for 2017 and 2016.

Answer 8

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

Answer 9

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 2:

What is company A’s 2017 estimated sales?

Answer 10

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

Answer 11

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization which show financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 3:

Company B’s 2017 estimated sales.

Answer 12

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Answer 13

To determine

Concept introduction:

Financial Statements:

Financial statements refer to the annual written records of the organization, which shows financial affairs of the organization. In other words, we can say that annual statements that are prepared to measure the financial progress of the organization are known as financial statements.

Requirement 4:

A company which has its estimated 2017 sales closer to its actual 2017 sales.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 8 - Prob. 1MCQ Ch. 8 - Prob. 2MCQ Ch. 8 - Prob. 3MCQ Ch. 8 - A Company’s standard for a unit of its single...Ch. 8 - Prob. 5MCQ Ch. 8 - Prob. 1DQ Ch. 8 - Prob. 2DQ Ch. 8 - Prob. 3DQ Ch. 8 - Prob. 4DQ Ch. 8 - Prob. 5DQ

Solution Summary: The author explains that financial statements refer to the annual written records of an organization, which show financial affairs of the organization.

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Chapter 8 Solutions