Multiple Choice
On its December 31,2014,balance sheet,Calgary Industries reports equipment of $370,000 and accumulated depreciation of $74,000.During 2015,the company plans to purchase additional equipment costing $80,000 and expects depreciation expense of $30,000.Additionally,it plans to dispose of equipment that originally cost $42,000 and had accumulated depreciation of $5,600.The balances for equipment and accumulated depreciation,respectively,on the December 31,2015 budgeted balance sheet are:
A) $328,000;$74,000.
B) $450,000;$98,400.
C) $450,000;$104,000.
D) $408,000;$104,000.
E) $408,000;$98,400.
Correct Answer:
Verified
Correct Answer:
Verified
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