Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Check my work 00 8 ! Required information [The following information applies to the questions displayed below.] Part 3 of 3 Movelt Corporation is the
Check my work 00 8 ! Required information [The following information applies to the questions displayed below.] Part 3 of 3 Movelt Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that Movelt sold a delivery truck for $27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $18,000, (b) $12,000, and (c) $21,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet > Record the sale of the truck that has an accumulated depreciation balance of $18,000 at the time of disposal. Note: Enter debits before credits. Transaction Credit a General Journal Accumulated Depreciation-Truck Cash Truck Debit 18,000 27,000 45.000 Record entry Clear entry View general journal Check my work 00 8 ! Required information [The following information applies to the questions displayed below.] Part 3 of 3 Movelt Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that Movelt sold a delivery truck for $27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $18,000, (b) $12,000, and (c) $21,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $12,000 at the time of disposal. Note: Enter debits before credits. Transaction Credit b General Journal Accumulated Depreciation-Truck Cash Debit 12,000 27,000 Record entry Clear entry View general journal Check my work 00 8 ! Required information [The following information applies to the questions displayed below.] Part 3 of 3 Movelt Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up and deliver packages. Assume that Movelt sold a delivery truck for $27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $18,000, (b) $12,000, and (c) $21,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started