! Required information [The following information applies to the questions displayed below.] FedEx Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 91,000 ground vehicles that pick up and deliver packages. Assume that FedEx sold a delivery truck for $16,000. FedEx had originally purchased the vehicle and recorded it in the Truck account for $28,000, 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 Accumulated Depreciation-Truck was (a) $12,000, (b) $10,000, and (c) $15,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) (a) (a) (e) (b) (b) (b) (c) (c) (c) Assets Liabilities + + + + + Stockholders' Equity
! Required information [The following information applies to the questions displayed below.] FedEx Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has more than 91,000 ground vehicles that pick up and deliver packages. Assume that FedEx sold a delivery truck for $16,000. FedEx had originally purchased the vehicle and recorded it in the Truck account for $28,000, 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 Accumulated Depreciation-Truck was (a) $12,000, (b) $10,000, and (c) $15,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) (a) (a) (e) (b) (b) (b) (c) (c) (c) Assets Liabilities + + + + + Stockholders' Equity
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[The following information applies to the questions displayed below.]
FedEx Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has
more than 91,000 ground vehicles that pick up and deliver packages. Assume that FedEx sold a delivery truck for $16,000.
FedEx had originally purchased the vehicle and recorded it in the Truck account for $28,000, 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 Accumulated Depreciation-Truck was (a) $12,000, (b) $10,000, and (c) $15,000. (Enter any decreases to Assets,
Liabilities, or Stockholders' Equity with a minus sign.)
(a)
(a)
(e)
(b)
(b)
(b)
(c)
(c)
(c)
Assets
Liabilities
+
+
+
+
+
Stockholders' Equity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb1c1a89c-9e90-418b-9f2d-8146c32f2d82%2Fec408a91-2c30-4b97-8bbf-6cd6ef668069%2Fcb6c3m4_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[The following information applies to the questions displayed below.]
FedEx Corporation is the world's leading express-distribution company. In addition to its 643 aircraft, the company has
more than 91,000 ground vehicles that pick up and deliver packages. Assume that FedEx sold a delivery truck for $16,000.
FedEx had originally purchased the vehicle and recorded it in the Truck account for $28,000, 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 Accumulated Depreciation-Truck was (a) $12,000, (b) $10,000, and (c) $15,000. (Enter any decreases to Assets,
Liabilities, or Stockholders' Equity with a minus sign.)
(a)
(a)
(e)
(b)
(b)
(b)
(c)
(c)
(c)
Assets
Liabilities
+
+
+
+
+
Stockholders' Equity
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