Equipment cost $168,000 has an estimated useful life of 18 years, has an estimated useful life of 18 years and has an estimated residual value of 15,000 and is depreciated by the straight line method.

a. What is the depreciation for the first year?

b. Sold in year 15 for 40,500 Determine loss or gain and what is the journal entry

c. Sold in year 15 for 41,000 Determine loss or gain and what is the journal entry

d. Sold in year 15 for 38,000 Determine loss or gain and what is the journal entry