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What budgeted balance sheet are

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Question 1: On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $385,000 and accumulated depreciation of $77,000. During 2018, the company plans to purchase additional equipment costing $83,000 and expects depreciation expense of $31,500. Additionally, it plans to dispose of equipment that originally cost $43,500 and had accumulated depreciation of $5,900. The balances for equipment and accumulated depreciation, respectively, on the December 31, 2018 budgeted balance sheet are:

Reference no: EM132516819

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