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[The following information applies to the questions displayed below.] Movelt Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of
[The following information applies to the questions displayed below.] Movelt Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 54,000 ground vehicles that pick up and deliver packages. Assume that Movelt sold a delivery truck for $26,000. Movelt had originally purchased the truck for $43,000 and had recorded depreciation for three years. Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) $17,000, (b) $12,000, and (c) $19,000. (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) $17,000, (b) $12,000, and (c) $19,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Assets Liabilities + Stockholders' Equity (a) (b) (c)
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