Required information [The following information applies to the questions displayed below.] VQT Companies 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 VQT sold a delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $33,000 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) $13,000, (b) $7,000, and (c) $17,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) (a) (a) (a) (b) (b) (b) (c) (c) (c) Assets Liabilities Stockholders' Equity + + + + + + + + +
Required information [The following information applies to the questions displayed below.] VQT Companies 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 VQT sold a delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $33,000 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) $13,000, (b) $7,000, and (c) $17,000. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) (a) (a) (a) (b) (b) (b) (c) (c) (c) Assets Liabilities Stockholders' Equity + + + + + + + + +
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Vinubhai
![Required information
[The following information applies to the questions displayed below.]
VQT Companies 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 VQT sold a
delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for
$33,000 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) $13,000, (b) $7,000, and (c) $17,000. (Enter
any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)
(a)
(a)
(a)
(b)
(b)
(b)
(c)
(c)
(c)
Assets
Liabilities
Stockholders' Equity
+
+
+
+
+
+
+
+
+](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc922ea8c-759f-475f-91ef-8da1a3cebdb0%2F61742d8b-b937-477f-be29-24007ea482c9%2Fsiggd0r_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
VQT Companies 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 VQT sold a
delivery truck for $20,000. VQT had originally purchased the vehicle and recorded it in the Truck account for
$33,000 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) $13,000, (b) $7,000, and (c) $17,000. (Enter
any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)
(a)
(a)
(a)
(b)
(b)
(b)
(c)
(c)
(c)
Assets
Liabilities
Stockholders' Equity
+
+
+
+
+
+
+
+
+
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