Fedex corporation 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 53,700 ground vehicles that pick up and deliver packages. assume fedex sold a delivery truck for $16,000. fedex had originally purchased the truck for $28,000, and had recorded depreciation for 3 years.
1) calculate the amount of gain or loss on disposal, assuming that accumulated depreciation was: (a) $12,000, (b) $10,000, (c) $15,000.
2) using the following structure, indicate the effects (accounts, amounts, and + or -) for the disposal of the truck in each of the three preceding situations.
assets = liabilities + stockholders' equity
3) prepare the journal entry to record the disposal of the truck for each situation in requirement 1.

Exercise 18-15 sheffield appliance center is an experienced home appliance dealer. sheffield appliance center also offers a number of services for the home appliances that it sells. assume that sheffield appliance center sells ovens on a standalone basis. sheffield appliance center also sells installation services and maintenance services for ovens. however, sheffield appliance center does not offer installation or maintenance services to customers who buy ovens from other vendors. pricing for ovens is as follows. oven only $790 oven with installation service 850 oven with maintenance services 970 oven with installation and maintenance services 990 in each instance in which maintenance services are provided, the maintenance service is separately priced within the arrangement at $180. additionally, the incremental amount charged by sheffield appliance center for installation approximates the amount charged by independent third parties. ovens are sold subject to a general right of return. if a customer purchases an oven with installation and/or maintenance services, in the event sheffield appliance center does not complete the service satisfactorily, the customer is only entitled to a refund of the portion of the fee that exceeds $790. assume that a customer purchases an oven with both installation and maintenance services for $990. (b) indicate the amount of revenue that should be allocated to the oven, the installation, and to the maintenance contract.