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VQT Companies 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
VQT Companies 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 VQT sold a delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $33,000 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) $13,000, (b) $7,000, and (c) $17,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) (a) (a) (a) (b) (b) (b) (c) (c) (c) Assets Accumulated Depreciation-Truck 13,000 = = = = = = = = - Liabilities + + ++++++ Stockholders' Equity
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