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Dodd Delivery Company and Hess Delivery Company Exchanged Delivery Trucks

question 333

Essay

Dodd Delivery Company and Hess Delivery Company exchanged delivery trucks on January 1, 2014. Dodd's truck cost $84,000, had accumulated depreciation of $69,000, and has a fair value of $11,000. Hess's truck cost $65,000, had accumulated depreciation of $54,000, and has a fair value of $11,000.
Instructions
(a) Journalize the exchange for Dodd Delivery Company.
(b) Journalize the exchange for Hess Delivery Company.


Definitions:

Lower-Level Needs

Fundamental physiological and safety needs in Maslow's hierarchy, such as food, water, and security, that must be satisfied before higher-level needs.

Self-Esteem

An individual's subjective evaluation of their own worth or value.

Health Promotion

The process of enabling people to increase control over and to improve their health, through lifestyle and environmental changes.

Wellness Education

Educational activities focused on promoting behaviors that contribute to a healthy lifestyle.

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