12.4 Preparing the Financial Budgets Pipers Tooling Shops cash budget for 2022 shows a planned...
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Accounting
12.4 Preparing the Financial Budgets
Pipers Tooling Shops cash budget for 2022 shows a planned purchase of new machinery costing $175,000. Pipers 2022 manufacturing overhead budget shows annual depreciation on machinery of $10,174. Piper also owns office equipment that cost $52,000 with depreciation expected to be $6,595 in 2022. Pipers December 31, 2021, balance sheet reported the machinery net of accumulated depreciation at $245,000. Calculate the amount of net machinery and equipment that would be reported on the budgeted balance sheet for December 31, 2022.
Select answer from the options below
$455,231
$351,231
$420,231
$403,231
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