Chapter 8 Homework Problems_FORMATTED

Chapter 8 Homework Problems_FORMATTED - Chapter 8 Homework...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 8 Homework Problems E8-13 Recording the Disposal of an Asset at Three Different Sale Prices LO5 FedEx is the world's leading express-distribution company. In addition to the world's largest fleet of all cargo aircraft, the company has more than 669 aircraft and 66,000 vehicles and trailers that pick up and deliver packages. Assume that FedEx sold a delivery truck that had been used in the business for three years. The records of the company reflected the following: Delivery truck cost $ 44,000 Accumulated depreciation 28,800 1a . Prepare the journal entry for the disposal of the truck, assuming that the truck sold for $15,100 cash. General Journal Debit Credit Cash 15,100 Accumulated depreciation 29,900 Delivery truck 45,000 1b . Prepare the journal entry for the disposal of the truck, assuming that the truck sold for $16,400 cash.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
General Journal Debit Credit Cash 16,400 Accumulated depreciation 29,900 Gain on sale of long- lived asset 1,300 Delivery truck 45,000 1c . Prepare the journal entry for the disposal of the truck, assuming that the truck sold for $12,800 cash. General Journal Debit Credit Cash 12,800 Accumulated depreciation 29,900 Loss on sale of long-lived asset 2,300 Delivery truck 45,000
Background image of page 2
E8-1 Preparing a Classified Balance Sheet LO1 The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Hasbro, Inc., a leading manufacturer of games, toys, and interactive entertainment software for children and families: Buildings and improvements $ 189 Goodwill $ 484
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 11

Chapter 8 Homework Problems_FORMATTED - Chapter 8 Homework...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online