$9$ Assignments

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Required information

$[$The following information applies to the questions displayed below.$]$

FedEx Corporation is the world's leading express$-$distribution company. In addition to its $675$ aircraft, the company has more than $86,000$ ground vehicles that pick up and deliver packages. Assume that FedEx sold a delivery truck for $$16,000.$ FedEx had originally purchased the vehicle and recorded it in the Truck account for $$28,000$ and had recorded depreciation for three years.

Required:

$2.$ Using the following structure, indicate the effects $($accounts$,$ amounts, and $+$ for increase and $-$ for decrease$)$ of the disposal of the truck, assuming Accumulated Depreciation$-$Truck was

a$.$ $$12,000,$

b$.$ $$10,000,$

c$.$ $$15,000.$

If a transaction affects a temporary account, include the account name under "Temporary Accounts" and the financial effect under $"$NI$."$ Do not enter an amount under "Stockholders' Equity" for these transactions; their impact on stockholders' equity will occur later when the temporary accounts are closed at year$-$end. Do not enter No Effect $($NE$)$ or zero for any cells without an effect for each transaction despite what may be shown in textbook demonstration cases as these cells should be left blank.

Note: Enter any decreases to Assets, Liabilities, Stockholders' Equity, or Net Income with a minus sign.

Assets