Wills Tooling Shops cash budget for 20x5 shows a planned purchase of new machinery costing...
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Accounting
Wills Tooling Shops cash budget for 20x5 shows a planned purchase of new machinery costing $175,000. Wills manufacturing overhead budget shows annual depreciation on machinery of $10,174. Will also owns office equipment that cost $52,000. Depreciation on that equipment is expected to be $6,595 in 20x5. Wills December 31, 20x4, balance sheet shows net machinery and equipment at $245,000. Calculate Wills net machinery and equipment balance on the budgeted balance sheet for December 31, 20x5.
a) 351,231
b) 420,231
c) 455,231
d) 403,231
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