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Required information [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,
Required information [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 $6,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $10,000 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) $4,000, (b) $3,000, and (c) $5,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Answer is not complete. Assets Liabilities + Stockholders' Equity Retained Earnings (a Truck (10,000) - + Cash 6,000 + 0 + Accumulated Depreciation-Truck Truck 4,000 (10,000) II + Cash 6,000 + Retained Earnings (a) (a) (b) (b) (b) (c) (c) (c) Accumulated Depreciation-Truck = + Truck 3,000 (10,000) 6,000 6] 6 [ ] = + Retained Earnings Cash = + Accumulated Depreciation-Truck 5,000 +
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