Plumber Corporation owns 60 percent of Socket Corporations voting common stock. On December 31, 20X4, Plumber paid Socket $276,000 for dump trucks Socket had purchased on January 1, 20X2. Both companies use straight-line depreciation. The consolidation entry included in preparing consolidated financial statements at December 31, 20X4, was

Consolidation Worksheet Entry	Debit	Credit
Trucks	24,000
Gain on Sale of Trucks	36,000
Accumulated Depreciation		60,000

1) What amount did Socket pay to purchase the trucks on January 1, 20X2?

Answer - $300,000

2) What was the economic life of the trucks on January 1, 20X2?

Answer - 15 years.

Prepare the worksheet consolidation entry needed in preparing the consolidated financial statements at December 31, 20X5.

Can you please show the calculation for Journal Entry (B). Please show a clear calculation for how the Accumulated Depreciation is $3000? I just need that part answered. Thanks!