! 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. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $13,000, (b) $7,000, and (c) $17,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the sale of the truck that has an accumulated depreciation balance of $13,000 at the time of disposal. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry View general journal Clear entry

! 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. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation--Truck was (a) $13,000, (b) $7,000, and (c) $17,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 Record the sale of the truck that has an accumulated depreciation balance of $13,000 at the time of disposal. Note: Enter debits before credits. Transaction a General Journal Debit Credit Record entry View general journal Clear entry

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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Required Information [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. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a) $18,000. (b) $12,000, and (c) $21.000. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 2 3 Record the sale of the truck that has an accumulated depreciation balance of $21,000 at the time of disposal. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear…
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