E7-14(Algo) Recording the Disposal of an Asset and Financial Statement Effects LO7-5 FedEx...
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Accounting
EAlgo Recording the Disposal of an Asset and Financial Statement Effects LO
FedEx Corporation is a global leader in express distribution. It has the world's largest fleet of allcargo aircraft and thousands of vehicles, trailers and electricpowered autonomous delivery robots bots and drones to pick up and deliver packages. These bots and drones are used primarily for the "last mile or kilometre of delivery" in the most environmentally sustainable and costeffective way. Assume that FedEx sold some of its robots as part of a modernization process. The bots had been used in the business for three years. The records of the company reflect the following in millions:
Fleet of electric powered, autonomous delivery $ bots
Accumulated depreciation
Required:
Prepare the journal entry to record the disposal of the fleet of bots and the related transaction effects, assuming that the sales price was a $b $ or c $If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Record the disposal of the truck assuming that the sales price was $
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