MoveIt 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 MoveIt sold a delivery truck for $26,000. MoveIt had originally purchased the truck for $43,000 and had recorded depreciation for three years. Prepare the journal entry to record the disposal of the truck, assuming that Accumulated Depreciation was (a) $17,000, (b) $12,000, and (c) $19,000. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1. No loss or No Gain

2. Loss = $5,000

3. Gain = $2,000

Explanation:

Requirement 1

If the accumulated depreciation of the machine was $17,000, the journal entry to record the transaction of disposal of machine will be as follows:

December 31   Cash                                       Debit        $26,000

                        Accumulated depreciation   Debit        $17,000

                        Machine                                      Credit        $43,000

Calculation:

Book value of the machine = Purchase price - Accumulated depreciation = $(43,000 - 17,000) = $26,000

We know, Gain (Loss) on sale of machine = Book value of the machine - Sale price = $(26,000 - 26,000) = $0. As the book value and the disposal value are same, there is no loss and no gain.

Requirement 2

If the accumulated depreciation of the machine was $12,000, the journal entry to record the transaction of disposal of machine will be as follows:

December 31   Cash                                       Debit       $26,000

                        Accumulated depreciation   Debit       $12,000

                        Loss on sale of equipment   Debit       $5,000

                        Machine                                      Credit        $43,000

Calculation:

Book value of the machine = Purchase price - Accumulated depreciation = $(43,000 - 12,000) = $31,000

We know, Loss on sale of machine = Sale price - Book value of the machine = $(31,000 - 26,000) = $5,000. Loss is a debit as it shows as the expense.

Requirement 3

If the accumulated depreciation of the machine was $19,000, the journal entry to record the transaction of disposal of machine will be as follows:

December 31   Cash                                Debit        $26,000

                 Accumulated depreciation   Debit        $19,000

                 Gain on sale of machine            Credit               $2,000

                 Machine                                      Credit              $43,000

Calculation:

Book value of the machine = Purchase price - Accumulated depreciation = $(43,000 - 19,000) = $24,000

We know, Gain on sale of machine = Sale price - Book value of the machine = $(26,000 - 24,000) = $2,000. Gain is a credit as it shows as the income.

so they can see what that city is producing and to also see if they can some how get that product. like gold in africa.

if kj of heat is transferred o 1200 g liquid water at 36'c, what would the new temperature of the water be? (he specific heat capacity of liquid water is 4.186 j/g''c)

a. 15'c

b.100'c

c.51'c

d.36'c