Tyson, Inc. uses the calendar year as its reporting period. During Year 1, it completed numerous property, plant, and equipment transactions. In particular, Tyson incurred noncurrent debt to build a new warehouse storage facility at its current location. An unrelated building contractor managed the new warehouse construction project.

Tyson has a policy of capitalizing expenditures with a unit cost of at least $1,000 and a useful life greater than 1 year. The company prorates depreciation expense in the year of acquisition based on the date of purchase.

Enter in the shaded cells the gain of loss on each of the following dispositions of property, plant, and equipment assets. A loss should be indicated by a negative number with a leading minus (-) sign. If the answer is zero, enter a 0.

Furniture sold

Original cost of furniture $13,000

Accumulated depreciation on the furniture 11,500

Fair value of replacement furniture 18,000

Sales price of the furniture sold 1,200

Pickup truck exchanged for a new pickup truck

Original cost of truck $25,000

Accumulated depreciation of truck 11,000

Fair value of truck 23,500

Sticker price of new truck 27,000

Fair value of the new truck 25,500

Cash paid to dealer 2,000

Equipment destroyed by fire

Original cost of equipment $17,500

Accumulated depreciation 3,500

Insurance proceeds 15,000

Cost to replace equipment 23,000

The information to the right pertains to Tyson, Inc.'s property, plant and equipment transactions.

Using the information provided, enter in the shaded cells the gain or loss on each of the dispositions of property, plant and equipment assets. A loss should be indicated by a negative number. If the answer is zero, enter a 0.

Gain or Loss Recognized		Amount
1	Furniture
2	Pickup truck
3	Equipment