The amount of accumulated depreciation for the budgeted balance sheet can be obtained from:

Question

Quizplus · Accepted Answer

The accumulated depreciation is a balance sheet item that shows the amount of depreciation expense that has been recognized in prior periods against the assets that are still in use. Therefore, to obtain the amount of accumulated depreciation for the budgeted balance sheet, we need to know the depreciation expense from prior periods, which can be found on the prior balance sheet, and the expected depreciation expense for the current period, which can be estimated from the selling and administrative expenses budget. The other options do not provide the necessary information to calculate the accumulated depreciation.

The Amount of Accumulated Depreciation for the Budgeted Balance Sheet