Effects of the disposal of an asset

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Reference no: EM13258575

Federal express is the worlds leading express distribution company. In addition to the worlds largest fleet of all cargo aircraft the company has more than 645 aircraft and 47000 vehicles and trailers that pick up and deliever packages. assume that the federal express sold a small delivery truck that had been used in the business for 3 years. the rocrods of the comapny reflect the follow. delievery truck cost $28000, accumulated depreciation $23000

1. give the journal entry for the disposal of the truck.assuming that the truck sold for a. 5000 cash. b. 5600 cash. c.4600 cash.

2. base on three preceding situations, explain the effects of the disposal of an asset??

Reference no: EM13258575

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