Business, 20.04.2020 23:10 isabellecannuli

MoveIt 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 MoveIt sold a delivery truck for $26,000. MoveIt had originally purchased the truck for $43,000 and had recorded depreciation for three years.

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

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.

3.Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $17,000, (b) $12,000, and (c) $19,000.

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MoveIt Corporation is the world’s leading express-distribution company. In addition to the world’s l...

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