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Problems 10-49 & 10-50
This will be your only homework for Chapter 10, there is no Connect assignment for this chapter.
NOTE: There is an error in problem 10-49. Instead of $100,000, use $162,000 as the balance for Accounts Payable.
I strongly recommend working through as much of the Practice assignment as you can to get a feel for the various pieces of the budget required by this problem.
HINT: Use multiple tabs in a worksheet file to complete this problem. Use the first tab to input all of your data. The remaining tabs (pages) should each be one part of the budget, with a final tab for the comprehensive budgeted income statement. This problem may appear to be overwhelming, but if you break it down into its component parts, it is quite manageable.
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