155.Williams Company acquired machinery on July 1, 2009, at a cost of $130,000. The estimated useful life of the machinery was 10 years and the estimated residual value was $10,000. Williams uses the double-declining-balance method of depreciation. On October 1, 2012, Williams sold the equipment for $75,000.

1) Record the journal entry for the depreciation on this machinery for 2012.

2) Record the journal entry for the sale of the machinery.

156.Equipment was purchased on January 5, 2011, at a cost of $90,000. The equipment had an estimated useful life of 8 years and an estimated residual value of $8,000.

After using the equipment for 3 years, the useful life was revised to a total of 10 years and the residual value was reduced to $2,004.

Determine the straight-line depreciation expense for the year 2014 and following years.