Grant Company has the following post closing trial balance on December
Grant Company has the following post-closing trial balance on December 31, 2016:
Additional information:
Rent and income tax expenses are paid as incurred. Insurance expense is an expiration of the prepaid amount.
Requirements
1. Prepare a budgeted income statement for the quarter ended March 31, 2017.
2. Prepare a budgeted balance sheet as of March 31, 2017.
3. Prepare a budgeted statement of cash flows for the quarter ended March 31, 2017.
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