Multiple Choice
On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $370,000 and accumulated depreciation of $74,000. During 2018, 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, 2018 budgeted balance sheet are:
A) $408,000; $98,400.
B) $450,000; $98,400.
C) $408,000; $104,000.
D) $450,000; $104,000.
E) $328,000; $74,000.
Correct Answer:
Verified
Correct Answer:
Verified
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