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Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal...

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Required information E9-11 (Algo) Demonstrating the Effect of Book Value on Reporting an Asset Disposal (LO 9-5) (The following information applies to the questions displayed below.) Liang and Cruz Deliveries 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 Liang and Cruz sold a delivery truck for $21,000. Liang and Cruz had originally purchased the vehicle and recorded it in the Truck account for $35,000 and had recorded depreciation for three years. E9-11 (Algo) Part 1 Required: 1. Calculate the amount of gain or loss on disposal, assuming that Accumulated Depreciation --Truck was (a) $14,000, (b) $11,000, and (c) $19,000. (Select "None" if there is no Gain or loss.) Gain/Loss Amount (a) (b) (c)

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