VQT Companies is the world's leading express-distribution company. In addition to its 643 aircraft, the...

80.2K

Verified Solution

Question

Accounting

image
image
image
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 $29,000. VQT had originally purchased the vehicle and recorded it in the Truck account for $49,000 and had recorded depreciation for three years. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciation-Truck was (a)$20,000,(b) $17,000, and (c) $25,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $20,000 at the time of disposal. Note: Enter debits before credits. VQT Companies is the world's leading express-distribution company. In addition to its 643 ai than 57,000 ground vehicles that pick up and deliver packages. Assume that VQT sold a del had originally purchased the vehicle and recorded it in the Truck account for $49,000 and h three years. 4. Prepare the journal entry to record the disposal of the truck, assuming Accumulated Depreciatio $17,000, and (c) $25,000. (If no entry is required for a transaction/event, select "No Journal En field.) Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $17,000 at the time of disposal. Note: Enter debits before credits. VQT Companies is the world's leading express-distribution company. In addition to its 6 than 57,000 ground vehicles that pick up and deliver packages. Assume that VQT sold had originally purchased the vehicle and recorded it in the Truck account for $49,000 a three years. repare the journal entry to record the disposal of the truck, assuming Accumulated Deprec 17,000 , and (c)$25,000. (If no entry is required for a transaction/event, select "No Journ eld.) Journal entry worksheet Record the sale of the truck that has an accumulated depreciation balance of $25,000 at the time of disposal. Note: Enter debits before credits

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students