The amount of accumulated depreciation for the budgeted balance sheet can be obtained from the ________.
A) cash budget
B) selling and administrative expense budget and the prior balance sheet
C) cash payments for selling and administrative expense budget
D) financial budget

Question

Quizplus · Accepted Answer

The selling and administrative expense budget contains information about the depreciation expense that will be incurred in the upcoming period. Combined with the prior period's accumulated depreciation balance from the previous balance sheet, the accumulated depreciation for the budgeted balance sheet can be calculated.

The Amount of Accumulated Depreciation for the Budgeted Balance Sheet