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 $31,000. MoveIt had originally purchased the truck for $51,000 and had recorded depreciation for three years.

Required:
1.	Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $20,000, (b) $16,000, and (c) $26,000. (Select "None" if there is no Gain or Loss.)

	Gain/Loss	Amount
a.
b.
c.

2.	Using the following structure, indicate the effects on disposal of the truck, assuming that Accumulated Depreciation was (a) $20,000, (b) $16,000, and (c) $26,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

	Assets		=	Liabilities		+	Stockholders Equity
(a)
(b)
(c)

4.	Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $20,000, (b) $16,000, and (c) $26,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Record the sale of the truck that has an accumulated depreciation balance of $20,000 at the time of disposal.

Record the sale of the truck that has an accumulated depreciation balance of $16,000 at the time of disposal.

Record the sale of the truck that has an accumulated depreciation balance of $26,000 at the time of disposal.