Need help with example 257

s, Na 335 0 Ex. 257 (a) Brown Company purchased equipment in 2008 for $150,000 and estimated a $10,000 salvage value at the end of the equipment's 10-year useful life. At December 31, 2014, there was $98,000 in the Accumulated Depreciation account for this equipment using the straight line method of depreciation. On March 31, 2015, the equipment was sold for $40,000. Prepare the appropriate journal entries to remove the equipment from the books of Brown Company on March 31, 2015 (b) Finney Company sold a machine for $15,000. The machine originally cost $35,000 in 2012 Depreciation on the machine to the date of disposal was $28.000. Prepare the appropriate journal entry to record the disposition of the machine. (c) Staniey Company sold office equipment that had a book value of $12,000 for $16,000AThe office equipment originally cost $40.000 and it is estimated that it would cost $50 replace the office equipment .ieR$ (a) Depreciation Expense Cash Loss on Disposal of Plant Assets Accumulated Depreciation-Equipment ($98,000+$3,500) Eauipment (b) Cash Accumulated Depreciation-Equipment. Equipment (c) Cash.. Accumulated Depreciation--Equipment Equipment Gain on Disposal of Plant Assets