Line 42 says if line 38 is 155,650 or less. Multiply 4,050 by the number on line 6d, but the number on our tax return on line 38 is MORE than 155,650 but it still gave us the exemption of 4050x2.

Yes, it is correct.  The $155,650 is just a trigger for you to use the worksheet to figure out the exemption deduction, but that is the threshold for married filing separately, so your threshold will be larger if single or married filing jointly.  You can see the worksheet on pages 40-41 of the Form 1040 instructions if you want further clarification -

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

On my 2015 1040 form my line 38 is smaller than line 40, line 41 says to subtract line 40 from line 38 which is 2618.00 minus 9250.00

Line 41 can be a negative amount. 

I still would need help showing specifically how it's done, thanks in advance

What?

  2,618

- 9,250

= -6,632  or (6,632)  

since you have a negative on line 41 then the exemptions on line 42 will be greater than 41.  So for line 43 you enter 0. 

I made a screen shot of 2015 1040 with lines 39-43 filled out