Guide to problem 7-18

Guide to problem 7-18 - See Schedule 9, p. 331 for...

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Guide to problem 7.18
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- The next step is determining the balance amount in each asset, liability, revenue and expense account.  -The cash budget will be derived from the transactions recorded in the cash account. See Schedule 8, p. 329  for formatting. - Use the balances in the revenue and expense accounts to  construct the budgeted income statement  . 
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Unformatted text preview: See Schedule 9, p. 331 for formatting.-Use the balances in the asset and liability accounts, capital and retained earnings account to construct the budgeted balance sheet. Add any budgeted income to the retained earnings balance at 4/30. See Schedule 10, p. 333 for formatting....
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Guide to problem 7-18 - See Schedule 9, p. 331 for...

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