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Required information [The following information applies to the questions displayed below.] Liang and Cruz Deliveries is the world's leading express-distribution company. In addition to its
Required information [The following information applies to the questions displayed below.] Liang and Cruz Deliveries 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 Liang and Cruz sold a delivery truck for $31,000. Liang and Cruz had originally purchased the vehicle and recorded it in the Truck account for $51,000 and had recorded depreciation for three years. 2. Using the following structure, Indicate the effects (accounts, amounts, and + for increase and - for decrease) of the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $20,000, (b) $16,000, and (c) $26,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)
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