Logan Logistics Ltd. has a fleet of delivery vehicles that are traded in when they reach 400,000 km. Truck #3846 is traded in for a new identical model #9929. The accounting records show the following data for this transaction: #3346 cost = $90,000 #3346 accumulated depreciation = $67,020 Cash paid by Logan to "seal the deal" = $61,650 Sticker price (Manufacturers Suggested Retail Price) for # 9929 = $92,000

 

Required 1: What amount should #9929 be capitalized at? $ 92000 Numeric Response 1.Edit Unavailable. 92000 incorrect.

Required 2: What is the net book value of the asset at the moment of the disposition? If negative use the minus sign "-" $ 12980 Numeric Response 2.Edit Unavailable. 12980 correct.

Required 3: What gain (loss) will Condor show in accounting for the disposal of the asset? If negative use the minus sign "-"