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WeDeliver Incorporated is the worlds leading express-distribution company. In addition to its 643 aircraft, the company has more than 57,000 ground vehicles that pick up
WeDeliver Incorporated is the worlds 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 WeDeliver sold a delivery truck for $28,000. WeDeliver had originally purchased the vehicle and recorded it in the Truck account for $47,000 and had recorded depreciation for three years.
1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $19,000, (b) $15,000, and (c) $23,000. (Select "None" if there is no Gain or Loss.) 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) $19,000, (b) $15,000, and (c) $23,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $19,000 at the time of disposal. Note: Enter debits before credits. Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $15,000 at the time of disposal. Note: Enter debits before credits. Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $23,000 at the time of disposal. Note: Enter debits before creditsStep by Step Solution
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