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Question

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Task:

You have been appointed to the position of senior management accountant at Rice Products. It is your responsibility to prepare a master budget for the next quarter (July, August and September 2020). The master budget documents are to consist of the following reports (the budgets should show the figures for each month and a total for the quarter where appropriate and round calculations to the nearest dollar):

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Income Statement (Statement of Financial Performance)

Balance Sheet (Statement of Financial Position)

2104AFE Management Accounting

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