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Question
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.
Answer
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