can someone show me how this is done please??

the old shelving und 1. The shelving was sold 2. The shelving was sol LO9-5 PROBLEM 9.4A Disposal of Plant Assets ets in the following transactions. ving was sold for $1,100 2. ne shelving was sold for $175 cash. During the current year, Hi ear, Hitchcock Developers disposed of plant assets in the Feb. 10 Office equipment cost ment costing $24,000 was given to a scrap dealer at Apr. cock's records showed th Aug. 15 Hitchcock traded in an scrap dealer at no charge. At the date the office equipment amounted to $21,800 of disposal, accumulated depreciat pool Associates for $900,000, receiving 1 Hitchcock sold land and a build e receivable for the remaining balance. Hitch- $100,000 cash and a 5-year, 9 percento S records showed the following amounts: Land, $50,000; Building, $550.000 mulated Depreciation: Building (at the date of disposal), $250,000. chcock traded in an old truck for a new one. The old truck had cost $26,000, and ccumulated depreciation amounted to $18,000. The list price of the new truck was 000, but Hitchcock received a $10,000 trade-in allowance for the old truck and paid 6,000 in cash. Hitchcock includes trucks in its Vehicles account. cock traded in its old computer system as part of the purchase of a new sys- n. The old system had cost $15,000, and its accumulated depreciation amounted 1,000. The new computer's list price was $8,000. Hitchcock accepted a trade omputer system, paying $1,500 down in cash and issuing Oct. 1 Hitchcock traded in its allowance of $500 for the old computer system, paying piye a 1-year, 8 percent note payable for the $6,000 balance owed. 425 Instructions a. Prepare journal entries to record each of the disposal transactions. Assume that depreciation expense on each asset has been recorded up to the date of disposal. Thus, you need not update the accumulated depreciation figures stated in the problem. b. Will the gains and losses recorded in part a affect the gross profit reported in Hitchcock's income statement? Explain. c. Explain how the financial reporting of gains and losses on plant assets differs from the man "reporting of unrealized gains and losses on marketable securities discussed in Chapter 7. During the nnditures which must be