Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about 40 percent. It sold seven used Boeing 767-300 jets to Amazon.com as Amazon plans to expand its growing Amazon Air cargo service. The average age of the jets is about 20 years old. Assume the records of the company reflected the following for the jets that were sold: Aircraft cost Accumulated depreciation Required: $ 62,600,000 47,200,000 1. Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. $15,400,000 cash b. $17,300,000 cash c. $14,100,000 cash View transaction list Journal entry worksheet 2 3 Record the disposal of the aircraft, assuming that the aircraft were sold for $17,300,000 cash. Note: Enter debits before credits Transaction b. General Journal Debit Credit Prey 2 of 6 Next >
Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up about 40 percent. It sold seven used Boeing 767-300 jets to Amazon.com as Amazon plans to expand its growing Amazon Air cargo service. The average age of the jets is about 20 years old. Assume the records of the company reflected the following for the jets that were sold: Aircraft cost Accumulated depreciation Required: $ 62,600,000 47,200,000 1. Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. a. $15,400,000 cash b. $17,300,000 cash c. $14,100,000 cash View transaction list Journal entry worksheet 2 3 Record the disposal of the aircraft, assuming that the aircraft were sold for $17,300,000 cash. Note: Enter debits before credits Transaction b. General Journal Debit Credit Prey 2 of 6 Next >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Don't give solution in image format..
Transcribed Image Text:Delta Air Lines owns hundreds of aircraft, with about 60 percent of its fleet consisting of Boeing aircraft, while Airbus aircraft make up
about 40 percent. It sold seven used Boeing 767-300 jets to Amazon.com as Amazon plans to expand its growing Amazon Air cargo
service. The average age of the jets is about 20 years old.
Assume the records of the company reflected the following for the jets that were sold:
Aircraft cost
Accumulated depreciation
Required:
$ 62,600,000
47,200,000
1. Prepare the journal entry for the disposal of the airplanes, assuming that the airplanes sold for
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
a. $15,400,000 cash
b. $17,300,000 cash
c. $14,100,000 cash
View transaction list
Journal entry worksheet
2
3
Record the disposal of the aircraft, assuming that the aircraft were sold for
$17,300,000 cash.
Note: Enter debits before credits
Transaction
b.
General Journal
Debit
Credit
Prey
2 of 6
Next >
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