E9-9 Demonstrating the Effect of Book Value on Reporting an Asset Disposal (LO 9-5) [The following information applies to the questions displayed below.] 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 $21,000. Movelt had originally purchased the truck for $35,000 and had recorded depreciation for three years. 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $14,000, (b) $11,000, and (c) $19,000. (Select "None" if there is no Gain or Loss.) Gain/Loss Amount 2. Using the following structure, indicate the effects (accounts, amounts, and + for increase and - for decrease) of the disposal of the truck, assuming that Accumulated Depreciation was (a) $14,000, (b) $11,000, and (c) $19,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets = Liabilities + Stockholders' Equity Journal entry worksheet