ces ! Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5] [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 $17,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $29,000 and had recorded depreciation for three years, E9-11 (Algo) Part 4 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $12,000, (b) $8,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
ces ! Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5] [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 $17,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $29,000 and had recorded depreciation for three years, E9-11 (Algo) Part 4 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $12,000, (b) $8,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Journal entry worksheet
<
1
2
Record the sale of the truck that has an accumulated depreciation balance of
$12,000 at the time of disposal.
Transaction
Note: Enter debits before credits.
a
3
Record entry
General Journal
Clear entry
Debit
Credit
+
View general journal
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0bd6a818-7e37-4788-a935-d00731e924b3%2F073fdbe8-9921-4ec2-a95e-97825677e92c%2F2ryhama_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Journal entry worksheet
<
1
2
Record the sale of the truck that has an accumulated depreciation balance of
$12,000 at the time of disposal.
Transaction
Note: Enter debits before credits.
a
3
Record entry
General Journal
Clear entry
Debit
Credit
+
View general journal
>
![ces
!
Required information
E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5]
[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
$17,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $29,000 and had recorded
depreciation for three years.
E9-11 (Algo) Part 4
4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $12,000, (b)
$8,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account
field.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0bd6a818-7e37-4788-a935-d00731e924b3%2F073fdbe8-9921-4ec2-a95e-97825677e92c%2Fbi3ysz_processed.jpeg&w=3840&q=75)
Transcribed Image Text:ces
!
Required information
E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal [LO 9-5]
[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
$17,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $29,000 and had recorded
depreciation for three years.
E9-11 (Algo) Part 4
4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $12,000, (b)
$8,000, and (c) $14,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account
field.)
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