Fast Delvery is the world's largest express transportation company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 657 aircraft and 62,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following Delivery truck cost Accueulsted depreciation $ 43,000 28,000 Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $15.000 cash b. $17,300 cash c. $13,300 cash View transaction list Journal entry worksheet 2. 3. Record the disposal of the truck, assuming the truck was sold for $15,000

Fast Delvery is the world's largest express transportation company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 657 aircraft and 62,000 vehicles and trailers that pick up and deliver packages. Assume that Fast Delivery sold a delivery truck that had been used in the business for three years. The records of the company reflected the following Delivery truck cost Accueulsted depreciation $ 43,000 28,000 Required: 1. Prepare the journal entry for the disposal of the truck, assuming that the truck sold for: (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. $15.000 cash b. $17,300 cash c. $13,300 cash View transaction list Journal entry worksheet 2. 3. Record the disposal of the truck, assuming the truck was sold for $15,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 46,700,000 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. $15,900,000 cash b. $16,400,000 cash c. $14,600,000 cash View transaction list Journal entry worksheet 1 2 3 Record the disposal of the aircraft, assuming the aircraft were sold for $15,900,000 cash. Note: Enter debits before credits. Transaction a. General Journal Debit Credit
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