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 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) (b) 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) $21000. (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 Record the sale of the truck that has an accumulated depreciation balance of $12,000 at the time of disposal. Note: Enter debits before credits. Transaction General Journal Debit Credit b Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $21,000 at the time of disposal. 36 Note: Enter debits before credits. Transaction General Journal Debit Credit ces