E9-9 Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5]

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MoveIt Corporation is the worlds leading express-distribution company. In addition to the worlds largest fleet of all-cargo aircraft, the company has more than 54,000 ground vehicles that pick up and deliver packages. Assume that MoveIt sold a delivery truck for $11,000. MoveIt had originally purchased the truck for $18,000 and had recorded depreciation for three years.

Required information Value: 1.00 points E9-9 Part 1 Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $7,0oo, (b) $4,000, and (c) $12,000. Select "None" i there is no ain or Loss. Gain/Loss Amount