The following information applies to the questions displayed below.] Movelt Corp

Question

The following information applies to the questions displayed below.] Movelt Corporation is the world's leading express-distribution company. In addition to the world's largest fleet of all-cargo aircraft, the company has more than 54,000 ground vehicles that pick up and deliver packages. Assume that Movelt sold a delivery truck for $15,000. Movelt had originally purchased the truck for $25,000 and had recorded depreciation for three years. value: 1.87 points Required informatic Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation (b) $9,000, and (c) $14,000. (Select "None" if there is no Gain or Loss.) was (a) $10,000, ain/Loss unt b. c.

Explanation / Answer

Cost = 25,000

Sale price = 15,000

1.

2.

Cost Accumulated depreciation Carrying value a. 25,000 10,000 15,000 b. 25,000 9,000 16,000 c. 25,000 14,000 11,000

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