Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreci...

Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation)

Refer to the information in E8-5.

Required:

Indicate the effects (accounts, amounts, and – or –) of the following on the accounting equation.

1. The adjustment for depreciation at the end of 2010.

2. The two expenditures during 2011.