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Required information [The following information applies to the questions displayed below.] OnTime Packaging is the world's leading express-distribution company. In addition to its 643 aircraft,
Required information [The following information applies to the questions displayed below.] OnTime Packaging 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 OnTime sold a delivery truck for $22,000. OnTime had originally purchased the vehicle and recorded it in the Truck account for $37,000 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) $15,000, (b) $13,000, and (c) $21,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities + Stockholders' Equity + (a) (a) (a) = + (b) + (b) = + (b) = + = + ic) ic) (c) +
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