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After preparation of Operating budgets, the next step is to prepare the Budgeted income statement as the revenue has already been computed in sales budgets and various cost like cost of goods sold and selling and admin expense has already been computed under the respective budgets.
On the basis of income statement and various ending balances of operating assets and liabilities available from the operating budgets, the Budgeted Balance Sheet need to be prepared.
And as the
Requirement1:
The preparation of Budgeted Income Statement.
Requirement2:
The preparation of Budgeted Balance Sheet.
Requirement3:
The Budgeted Cash flow Statement shall be prepared.
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Chapter 24 Solutions
Horngren's Accounting, The Financial Chapters, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (11th Edition)
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