Question

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 $14,000. Movelt had originally purchased the truck for $23,000 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 that Accumulated Depreciation was (a) $9,000, (b) $7,000, and (C) $15,000. (Enter any decreases to Assets, Llabilities, or Stockholders' Equity with a minus sign.) Assets Assets Liabilities Stockholders' Equity (a) Cost of Goods Sold

Answer 1

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habilities Stockholders Carity |L08 on Disposal (2000) - Assets (a) Cash 14000 dราะ |(3000) Accumulatto Denunciation Equithout 9000 COSA 14000 - Eauipment (23060) Accumulated Depriciation Equipment 7000 (C) Cash 14000 Equipment 123000) / Accumulated Depreciation Equipment 15000 | Gain on Disposal 6000