federal express is the worlds leading express distributioncompany . in addition
ID: 2458059 • Letter: F
Question
federal express is the worlds leading express distributioncompany . in addition to the worlds largest fleet of all cargoaircraft the company has more than 645 aircraft and 47000 vehiclesand trailers that pick up and deliever packages. assume that thefederal express sold a small delivery truck that had been used inthe business for 3 years. the rocrods of the comapny reflect thefollow. delievery truck cost $28000, accumulated depreciation$23000 1. give the journal entry for the disposal of the truck.assuming that the truck sold for a. 5000 cash. b. 5600 cash. c.4600 cash. 2. base on three preceding situations, explain the effects ofthe disposal of an asset?? federal express is the worlds leading express distributioncompany . in addition to the worlds largest fleet of all cargoaircraft the company has more than 645 aircraft and 47000 vehiclesand trailers that pick up and deliever packages. assume that thefederal express sold a small delivery truck that had been used inthe business for 3 years. the rocrods of the comapny reflect thefollow. delievery truck cost $28000, accumulated depreciation$23000 1. give the journal entry for the disposal of the truck.assuming that the truck sold for a. 5000 cash. b. 5600 cash. c.4600 cash. 2. base on three preceding situations, explain the effects ofthe disposal of an asset??Explanation / Answer
a Cash 5,000.00 Truck 5,000.00 b Cash 5,600.00 Truck 5,000.00 Gain on Sale 600.00 c Cash 4,600.00 Loss on Sale 400.00 Truck 5,000.00 Effect of the disposal ofasset 1 No Loss No Gain 2 Gain of $600 3 Loss of $400
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.