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 $27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years. E9-11 (Algo) Part 1 Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $18,000, (b) $12,000, an (c) $21,000. (Select "None" if there is no Gain or Loss.) Gain/Loss (a) None (b) Loss (c) Gain Amount

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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
$27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded
depreciation for three years.
E9-11 (Algo) Part 1
Required:
1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $18,000, (b) $12,000, and
(c) $21,000. (Select "None" if there is no Gain or Loss.)
Gain/Loss Amount
(a) None
(b) Loss
(c) Gain
Transcribed Image Text: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 $27,000. Movelt had originally purchased the vehicle and recorded it in the Truck account for $45,000 and had recorded depreciation for three years. E9-11 (Algo) Part 1 Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation-Truck was (a) $18,000, (b) $12,000, and (c) $21,000. (Select "None" if there is no Gain or Loss.) Gain/Loss Amount (a) None (b) Loss (c) Gain
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