The following information applies to the questions displayed

The following information applies to the questions displayed below] Movelt Corporation all-cargo aircraft, the company that Moveit sold a deivery truc is the world\'s leading express-distribution company. In addition to the world\'s largest fneet of has more than 54,000 ground vehicles that pick up and deliver packages. Assume k for $28,000. Movelt hed oniginally purchased the truck for $47,000 and hed recorded deprecietion for three years 11.11 points Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation was (a) S19.000 (b) $15,000, and (c) $23,000. (Select \"None\" if there is no Gain or Loss) Amount O Type here to search

Solution

Calculate gain or loss :

a) (47000-19000)-28000 = None

b) (47000-15000)-28000 = Loss $4000

c (47000-23000)-28000 = Gain $4000